Navient (NASDAQ:NAVI) Price Target Cut to $13.00 by Analysts at TD Cowen

Navient (NASDAQ:NAVI - Free Report) had its price objective reduced by TD Cowen from $14.00 to $13.00 in a research report report published on Friday morning, Benzinga reports. They currently have a sell rating on the credit services provider's stock.

Several other analysts also recently weighed in on NAVI. Barclays raised their target price on Navient from $10.00 to $11.00 and gave the company an "underweight" rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. raised their price objective on Navient from $15.00 to $16.00 and gave the company a "neutral" rating in a research note on Monday, October 7th. Bank of America initiated coverage on Navient in a research report on Monday, September 30th. They issued a "neutral" rating and a $17.00 target price on the stock. Finally, Keefe, Bruyette & Woods raised their price target on shares of Navient from $15.00 to $16.00 and gave the stock a "market perform" rating in a research report on Thursday, July 25th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $15.78.

Navient Stock Down 1.7 %

Shares of NASDAQ:NAVI traded down $0.24 during mid-day trading on Friday, hitting $13.99. 702,822 shares of the company traded hands, compared to its average volume of 784,376. The firm has a market cap of $1.53 billion, a P/E ratio of 20.28 and a beta of 1.39. Navient has a 52-week low of $13.95 and a 52-week high of $19.68. The firm's 50 day simple moving average is $15.62 and its 200 day simple moving average is $15.31. The company has a debt-to-equity ratio of 16.59, a quick ratio of 9.99 and a current ratio of 9.49.

Navient Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were given a dividend of $0.16 per share. The ex-dividend date was Friday, September 6th. This represents a $0.64 annualized dividend and a dividend yield of 4.57%. Navient's dividend payout ratio (DPR) is 92.75%.

Institutional Investors Weigh In On Navient

Several hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC acquired a new stake in Navient during the 1st quarter worth about $36,000. IAG Wealth Partners LLC acquired a new stake in shares of Navient during the second quarter valued at approximately $50,000. Signaturefd LLC raised its holdings in shares of Navient by 22.1% during the second quarter. Signaturefd LLC now owns 4,797 shares of the credit services provider's stock valued at $70,000 after acquiring an additional 869 shares during the period. nVerses Capital LLC purchased a new stake in shares of Navient in the 3rd quarter valued at approximately $87,000. Finally, Harbor Capital Advisors Inc. acquired a new position in Navient in the 3rd quarter worth approximately $95,000. 97.14% of the stock is owned by hedge funds and other institutional investors.

Navient Company Profile

Navient Corporation provides technology-enabled education finance and business processing solutions for education, health care, and government clients in the United States. It operates through three segments: Federal Education Loans, Consumer Lending, and Business Processing. The company owns Federal Family Education Loan Program (FFELP) loans that are insured or guaranteed by state or not-for-profit agencies; and performs servicing on its portfolios, as well as federal education loans held by other institutions.