Navient Co. (NASDAQ:NAVI – Get Rating) was the target of unusually large options trading on Friday. Stock investors purchased 24,005 put options on the company. This is an increase of 6,531% compared to the typical volume of 362 put options.
Analysts Set New Price Targets
A number of equities analysts have issued reports on the company. Keefe, Bruyette & Woods decreased their price target on Navient from $18.00 to $17.00 in a research note on Monday, July 11th. Barclays lowered Navient from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $19.00 to $13.00 in a research note on Friday, September 9th. Citigroup increased their price target on Navient from $16.00 to $18.00 in a research note on Thursday, July 28th. Finally, Compass Point reduced their price objective on Navient to $12.50 in a research note on Tuesday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Navient currently has an average rating of “Hold” and an average price target of $16.79.
Navient Stock Down 4.2 %
Shares of NAVI traded down $0.58 during mid-day trading on Friday, reaching $13.11. The company’s stock had a trading volume of 103,934 shares, compared to its average volume of 2,349,360. The company has a market cap of $1.86 billion, a price-to-earnings ratio of 3.46 and a beta of 1.66. The business has a fifty day moving average of $15.56 and a 200 day moving average of $15.68. Navient has a 1 year low of $12.45 and a 1 year high of $23.44. The company has a quick ratio of 15.69, a current ratio of 15.69 and a debt-to-equity ratio of 23.14.
Navient (NASDAQ:NAVI – Get Rating) last issued its quarterly earnings results on Tuesday, July 26th. The credit services provider reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.13. The company had revenue of $271.00 million for the quarter, compared to the consensus estimate of $264.50 million. Navient had a return on equity of 12.79% and a net margin of 18.11%. During the same period last year, the business posted $0.94 earnings per share. As a group, analysts forecast that Navient will post 3.4 earnings per share for the current fiscal year.
Navient Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, September 2nd were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date was Thursday, September 1st. Navient’s dividend payout ratio (DPR) is presently 16.58%.
Institutional Investors Weigh In On Navient
Institutional investors have recently added to or reduced their stakes in the company. Captrust Financial Advisors lifted its stake in Navient by 88.8% during the second quarter. Captrust Financial Advisors now owns 11,749 shares of the credit services provider’s stock worth $164,000 after purchasing an additional 5,525 shares during the period. ExodusPoint Capital Management LP lifted its stake in Navient by 849.2% during the second quarter. ExodusPoint Capital Management LP now owns 110,743 shares of the credit services provider’s stock worth $1,549,000 after purchasing an additional 99,076 shares during the period. United Services Automobile Association bought a new position in shares of Navient in the second quarter valued at approximately $231,000. Price T Rowe Associates Inc. MD raised its stake in shares of Navient by 0.7% in the second quarter. Price T Rowe Associates Inc. MD now owns 91,373 shares of the credit services provider’s stock valued at $1,278,000 after acquiring an additional 657 shares during the last quarter. Finally, Prudential Financial Inc. raised its stake in shares of Navient by 9.5% in the second quarter. Prudential Financial Inc. now owns 459,334 shares of the credit services provider’s stock valued at $6,426,000 after acquiring an additional 39,700 shares during the last quarter. 93.65% of the stock is owned by institutional investors and hedge funds.
About Navient
Navient Corporation provides education loan management and business processing solutions for education, healthcare, and government clients at the federal, state, and local levels in the United States. It operates through three segments: Federal Education Loans, Consumer Lending, and Business Processing.
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