Navient (NASDAQ:NAVI) Given New $13.00 Price Target at TD Cowen

Navient (NASDAQ:NAVI) had its price target trimmed by TD Cowen from $14.00 to $13.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a sell rating on the credit services provider’s stock.

NAVI has been the topic of a number of other research reports. Keefe, Bruyette & Woods upped their price target on shares of Navient from $15.00 to $16.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. Bank of America initiated coverage on Navient in a report on Monday, September 30th. They set a “neutral” rating and a $17.00 price target on the stock. JPMorgan Chase & Co. lifted their price target on shares of Navient from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, October 7th. Finally, Barclays lifted their target price on shares of Navient from $10.00 to $11.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 8th. Three analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $15.78.

Navient Stock Down 1.7 %

Shares of NAVI stock traded down $0.24 during mid-day trading on Friday, reaching $13.99. 702,822 shares of the company’s stock traded hands, compared to its average volume of 784,376. The company’s 50-day moving average price is $15.58 and its 200-day moving average price is $15.29. The company has a market cap of $1.53 billion, a P/E ratio of 20.28 and a beta of 1.39. The company has a quick ratio of 9.99, a current ratio of 9.49 and a debt-to-equity ratio of 16.59. Navient has a 12 month low of $13.95 and a 12 month high of $19.68.

Navient Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Covestor Ltd lifted its holdings in shares of Navient by 24.6% in the third quarter. Covestor Ltd now owns 7,360 shares of the credit services provider’s stock worth $115,000 after buying an additional 1,455 shares in the last quarter. QRG Capital Management Inc. boosted its holdings in shares of Navient by 22.2% during the 3rd quarter. QRG Capital Management Inc. now owns 14,929 shares of the credit services provider’s stock valued at $233,000 after purchasing an additional 2,716 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of Navient during the third quarter valued at about $95,000. First Trust Direct Indexing L.P. increased its holdings in shares of Navient by 12.0% in the third quarter. First Trust Direct Indexing L.P. now owns 13,942 shares of the credit services provider’s stock worth $217,000 after purchasing an additional 1,491 shares during the last quarter. Finally, Donald Smith & CO. Inc. lifted its position in shares of Navient by 27.8% in the third quarter. Donald Smith & CO. Inc. now owns 3,581,311 shares of the credit services provider’s stock worth $55,833,000 after buying an additional 779,973 shares in the last quarter. 97.14% of the stock is currently owned by 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.