JPMorgan Chase & Co. Boosts Navient (NASDAQ:NAVI) Price Target to $16.00

Navient (NASDAQ:NAVI) had its price target lifted by JPMorgan Chase & Co. from $15.00 to $16.00 in a research report sent to investors on Monday, Benzinga reports. They currently have a neutral rating on the credit services provider’s stock.

Other research analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods increased their price target on shares of Navient from $15.00 to $16.00 and gave the company a market perform rating in a report on Thursday, July 25th. Barclays cut their price target on shares of Navient from $11.00 to $10.00 and set an underweight rating on the stock in a report on Tuesday, July 9th. Finally, Bank of America initiated coverage on Navient in a report on Monday, September 30th. They issued a neutral rating and a $17.00 price target on the stock. Three research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $15.78.

Navient Stock Performance

NASDAQ:NAVI opened at $15.44 on Monday. The company has a debt-to-equity ratio of 17.30, a quick ratio of 9.99 and a current ratio of 9.99. The stock has a 50-day simple moving average of $15.51 and a two-hundred day simple moving average of $15.48. The firm has a market capitalization of $1.73 billion, a PE ratio of 9.90 and a beta of 1.39. Navient has a 52-week low of $13.95 and a 52-week high of $19.68.

Navient (NASDAQ:NAVI) last released its quarterly earnings data on Wednesday, July 24th. The credit services provider reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.14). The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $157.27 million. Navient had a return on equity of 11.06% and a net margin of 3.41%. During the same period last year, the company earned $0.70 EPS. Analysts forecast that Navient will post 1.43 EPS for the current year.

Navient Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date was Friday, September 6th. Navient’s dividend payout ratio (DPR) is 41.03%.

Institutional Trading of Navient

Several hedge funds have recently modified their holdings of NAVI. Jupiter Asset Management Ltd. purchased a new stake in shares of Navient during the first quarter valued at $4,813,000. Squarepoint Ops LLC purchased a new position in Navient in the second quarter valued at $3,345,000. Edgestream Partners L.P. boosted its stake in shares of Navient by 90.9% during the 1st quarter. Edgestream Partners L.P. now owns 386,379 shares of the credit services provider’s stock worth $6,723,000 after acquiring an additional 183,969 shares in the last quarter. American Century Companies Inc. boosted its position 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 in the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of Navient during the 2nd quarter valued at approximately $2,327,000. 97.14% of the stock is owned by hedge funds and other 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.