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Navient (NASDAQ:NAVI) Given New $16.50 Price Target at Keefe, Bruyette & Woods

Navient logo with Finance background

Navient (NASDAQ:NAVI - Free Report) had its price target lifted by Keefe, Bruyette & Woods from $14.00 to $16.50 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has a market perform rating on the credit services provider's stock.

NAVI has been the topic of several other reports. Jefferies Financial Group decreased their target price on shares of Navient from $14.00 to $12.00 and set a "hold" rating on the stock in a report on Monday, April 21st. TD Securities raised their price target on shares of Navient from $11.00 to $12.00 and gave the company a "sell" rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. raised their price target on shares of Navient from $11.00 to $12.50 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Finally, TD Cowen downgraded shares of Navient from a "hold" rating to a "strong sell" rating in a research note on Thursday, May 1st. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $13.71.

Get Our Latest Stock Analysis on Navient

Navient Stock Performance

Shares of NAVI traded down $0.35 during trading hours on Wednesday, hitting $15.24. The company had a trading volume of 626,031 shares, compared to its average volume of 767,673. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of 30.48 and a beta of 1.40. The business has a fifty day moving average of $13.80 and a 200-day moving average of $13.34. Navient has a 12 month low of $10.53 and a 12 month high of $16.97. The company has a quick ratio of 9.88, a current ratio of 9.88 and a debt-to-equity ratio of 16.56.

Navient (NASDAQ:NAVI - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The credit services provider reported $0.28 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.09. Navient had a net margin of 1.37% and a return on equity of 5.20%. The business had revenue of $156.00 million for the quarter, compared to analyst estimates of $150.40 million. During the same period last year, the firm earned $0.47 earnings per share. Equities analysts anticipate that Navient will post 1.04 EPS for the current fiscal year.

Navient Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were issued a dividend of $0.16 per share. The ex-dividend date was Friday, June 6th. This represents a $0.64 annualized dividend and a yield of 4.20%. Navient's payout ratio is 128.00%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NAVI. Sterling Capital Management LLC increased its stake in shares of Navient by 815.0% in the 4th quarter. Sterling Capital Management LLC now owns 2,443 shares of the credit services provider's stock valued at $32,000 after acquiring an additional 2,176 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Navient in the 1st quarter valued at $40,000. New Age Alpha Advisors LLC bought a new stake in shares of Navient in the 1st quarter valued at $71,000. Covestor Ltd increased its stake in Navient by 15.7% during the 1st quarter. Covestor Ltd now owns 7,303 shares of the credit services provider's stock valued at $92,000 after purchasing an additional 993 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in Navient by 2,663.1% during the 1st quarter. GAMMA Investing LLC now owns 8,096 shares of the credit services provider's stock valued at $102,000 after purchasing an additional 7,803 shares in the last quarter. Institutional investors own 97.14% of the company's stock.

About Navient

(Get Free Report)

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.

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