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

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

Other analysts also recently issued research reports about the stock. JPMorgan Chase & Co. upped their price target on shares of Navient from $11.00 to $12.50 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Jefferies Financial Group lowered their price objective on shares of Navient from $14.00 to $12.00 and set a "hold" rating for the company in a research report on Monday, April 21st. TD Cowen cut shares of Navient from a "hold" rating to a "strong sell" rating in a research report on Thursday, May 1st. Finally, TD Securities upped their price objective on shares of Navient from $11.00 to $12.00 and gave the stock a "sell" rating in a research report on Thursday, May 1st. Three analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $13.29.

Navient Stock Performance

NASDAQ NAVI traded down $0.18 during trading on Wednesday, reaching $15.41. The company's stock had a trading volume of 81,535 shares, compared to its average volume of 765,391. The company has a current ratio of 9.88, a quick ratio of 9.88 and a debt-to-equity ratio of 16.56. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of 30.85 and a beta of 1.40. Navient has a 12 month low of $10.53 and a 12 month high of $16.97. The firm has a 50 day moving average price of $13.75 and a 200 day moving average price of $13.32.

Navient (NASDAQ:NAVI - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The credit services provider reported $0.28 earnings per share 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 company had revenue of $156.00 million during the quarter, compared to the consensus estimate of $150.40 million. During the same quarter in the prior year, the firm posted $0.47 EPS. As a group, equities analysts anticipate that Navient will post 1.04 EPS for the current fiscal year.

Navient Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 4.15%. The ex-dividend date of this dividend was Friday, June 6th. Navient's dividend payout ratio (DPR) is currently 128.00%.

Hedge Funds Weigh In On Navient

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Orbis Allan Gray Ltd increased its position in Navient by 29.7% in the 1st quarter. Orbis Allan Gray Ltd now owns 2,311,785 shares of the credit services provider's stock valued at $29,198,000 after acquiring an additional 528,716 shares during the period. American Century Companies Inc. increased its position in Navient by 7.3% in the 1st quarter. American Century Companies Inc. now owns 1,954,896 shares of the credit services provider's stock valued at $24,690,000 after acquiring an additional 132,313 shares during the period. Northern Trust Corp increased its position in Navient by 14.6% in the 4th quarter. Northern Trust Corp now owns 1,567,466 shares of the credit services provider's stock valued at $20,832,000 after acquiring an additional 199,937 shares during the period. Wellington Management Group LLP increased its position in Navient by 10.9% in the 1st quarter. Wellington Management Group LLP now owns 1,459,166 shares of the credit services provider's stock valued at $18,429,000 after acquiring an additional 143,325 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Navient by 32.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,439,903 shares of the credit services provider's stock worth $18,186,000 after buying an additional 353,898 shares during the period. 97.14% of the stock is currently owned by institutional investors and hedge funds.

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.