JPMorgan Chase & Co. Issues Pessimistic Forecast for Navient (NASDAQ:NAVI) Stock Price

Navient (NASDAQ:NAVI) had its target price dropped by stock analysts at JPMorgan Chase & Co. from $15.00 to $13.50 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the credit services provider’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 1.58% from the company’s current price.

NAVI has been the subject of a number of other research reports. Bank of America decreased their target price on Navient from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Tuesday, December 24th. StockNews.com upgraded Navient from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Barclays upped their price target on Navient from $10.00 to $11.00 and gave the stock an “underweight” rating in a report on Tuesday, October 8th. Finally, TD Cowen lowered their price objective on shares of Navient from $14.00 to $13.00 and set a “sell” rating on the stock in a research note on Friday, November 1st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $14.58.

Navient Stock Up 2.4 %

NASDAQ NAVI traded up $0.31 during trading on Tuesday, reaching $13.29. The company’s stock had a trading volume of 135,782 shares, compared to its average volume of 709,592. The company has a current ratio of 9.49, a quick ratio of 9.49 and a debt-to-equity ratio of 16.59. The stock has a market capitalization of $1.43 billion, a PE ratio of 19.26 and a beta of 1.43. Navient has a 1-year low of $12.73 and a 1-year high of $18.36. The business has a 50-day moving average price of $14.44 and a 200-day moving average price of $15.04.

Navient (NASDAQ:NAVI) last released its quarterly earnings data on Wednesday, October 30th. The credit services provider reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $1.20. The business had revenue of $1.22 billion during 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 earned $0.84 EPS. On average, research analysts forecast that Navient will post 2.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Navient news, EVP Stephen M. Hauber sold 10,000 shares of Navient stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $15.00, for a total transaction of $150,000.00. Following the sale, the executive vice president now directly owns 256,883 shares of the company’s stock, valued at approximately $3,853,245. The trade was a 3.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 27.99% of the company’s stock.

Hedge Funds Weigh In On Navient

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Donald Smith & CO. Inc. increased its holdings in shares of Navient by 27.8% during 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. American Century Companies Inc. increased its holdings in Navient by 12.1% during the 2nd quarter. American Century Companies Inc. now owns 1,582,928 shares of the credit services provider’s stock valued at $23,047,000 after purchasing an additional 171,160 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Navient by 1.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,092,270 shares of the credit services provider’s stock valued at $17,028,000 after purchasing an additional 19,606 shares during the last quarter. Wellington Management Group LLP boosted its stake in Navient by 0.9% in the third quarter. Wellington Management Group LLP now owns 892,828 shares of the credit services provider’s stock worth $13,919,000 after purchasing an additional 8,117 shares in the last quarter. Finally, Empowered Funds LLC grew its holdings in shares of Navient by 5.4% during the third quarter. Empowered Funds LLC now owns 444,467 shares of the credit services provider’s stock worth $6,929,000 after purchasing an additional 22,646 shares during the last quarter. Institutional investors own 97.14% of the company’s stock.

About Navient

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.