Navient Co. (NASDAQ:NAVI – Get Free Report)’s share price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $15.06 and traded as low as $13.04. Navient shares last traded at $13.08, with a volume of 961,755 shares changing hands.
Analysts Set New Price Targets
A number of equities analysts have weighed in on NAVI shares. StockNews.com raised shares of Navient from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Barclays boosted their price target on Navient from $10.00 to $11.00 and gave the company an “underweight” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. reduced their price objective on Navient from $15.50 to $15.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. TD Cowen cut their price target on shares of Navient from $14.00 to $13.00 and set a “sell” rating on the stock in a report on Friday, November 1st. Finally, Bank of America decreased their price objective on shares of Navient from $17.00 to $16.00 and set a “neutral” rating for the company in a research note on Tuesday, December 24th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $15.43.
Read Our Latest Stock Analysis on NAVI
Navient Price Performance
Navient (NASDAQ:NAVI – Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The credit services provider reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $1.20. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $150.04 million. Navient had a net margin of 1.71% and a return on equity of 8.62%. During the same quarter in the previous year, the business posted $0.84 EPS. As a group, analysts forecast that Navient Co. will post 2.47 earnings per share for the current year.
Navient Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.64 annualized dividend and a yield of 4.89%. Navient’s dividend payout ratio is presently 92.75%.
Insider Activity
In other news, EVP Stephen M. Hauber sold 10,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $15.00, for a total transaction of $150,000.00. Following the transaction, the executive vice president now owns 256,883 shares of the company’s stock, valued at approximately $3,853,245. This trade represents a 3.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 27.99% of the company’s stock.
Institutional Trading of Navient
Several institutional investors and hedge funds have recently bought and sold shares of the company. Donald Smith & CO. Inc. grew its position in shares of Navient by 27.8% in the 3rd quarter. Donald Smith & CO. Inc. now owns 3,581,311 shares of the credit services provider’s stock worth $55,833,000 after acquiring an additional 779,973 shares in the last quarter. Squarepoint Ops LLC bought a new position in Navient during the second quarter worth $3,345,000. American Century Companies Inc. lifted its stake in Navient by 12.1% during the second quarter. American Century Companies Inc. now owns 1,582,928 shares of the credit services provider’s stock worth $23,047,000 after purchasing an additional 171,160 shares during the last quarter. Marshall Wace LLP bought a new stake in Navient during the second quarter valued at $2,327,000. Finally, Barclays PLC raised its holdings in shares of Navient by 59.0% during the third quarter. Barclays PLC now owns 284,130 shares of the credit services provider’s stock worth $4,429,000 after purchasing an additional 105,454 shares during the period. Institutional investors and hedge funds own 97.14% of the company’s stock.
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.
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