JPMorgan Chase & Co. Has Lowered Expectations for Navient (NASDAQ:NAVI) Stock Price

Navient (NASDAQ:NAVI) had its price target cut by investment analysts at JPMorgan Chase & Co. from $15.00 to $13.50 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the credit services provider’s stock. JPMorgan Chase & Co.‘s target price points to a potential downside of 1.68% from the company’s previous close.

A number of other equities research analysts have also recently commented on the stock. Barclays increased their target price on shares of Navient from $10.00 to $11.00 and gave the company an “underweight” rating in a research report on Tuesday, October 8th. StockNews.com raised Navient from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Bank of America reduced their target price on Navient from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 24th. Finally, TD Cowen lowered their price target on Navient from $14.00 to $13.00 and set a “sell” rating for the company in a report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $14.58.

Navient Trading Up 2.4 %

Shares of NASDAQ:NAVI opened at $13.73 on Tuesday. The company has a market capitalization of $1.47 billion, a PE ratio of 19.90 and a beta of 1.43. The company has a current ratio of 9.49, a quick ratio of 9.49 and a debt-to-equity ratio of 16.59. Navient has a 12-month low of $12.73 and a 12-month high of $18.36. The business’s fifty day simple moving average is $14.39 and its 200-day simple moving average is $15.02.

Navient (NASDAQ:NAVI) last posted its earnings results 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 company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $150.04 million. Navient had a return on equity of 8.62% and a net margin of 1.71%. During the same quarter in the previous year, the firm earned $0.84 earnings per share. As a group, equities research analysts predict that Navient will post 2.47 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Stephen M. Hauber sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $15.00, for a total value of $150,000.00. Following the sale, the executive vice president now owns 256,883 shares in the company, valued at $3,853,245. This represents a 3.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 27.99% of the company’s stock.

Institutional Trading of Navient

Several large investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company lifted its position in Navient by 1.6% during the second quarter. The Manufacturers Life Insurance Company now owns 46,534 shares of the credit services provider’s stock valued at $678,000 after purchasing an additional 722 shares during the period. Wedge Capital Management L L P NC boosted its stake in shares of Navient by 2.7% in the third quarter. Wedge Capital Management L L P NC now owns 45,584 shares of the credit services provider’s stock worth $711,000 after buying an additional 1,218 shares during the last quarter. KBC Group NV grew its holdings in Navient by 47.0% during the third quarter. KBC Group NV now owns 4,355 shares of the credit services provider’s stock worth $68,000 after acquiring an additional 1,392 shares during the period. Xponance Inc. raised its position in Navient by 11.5% during the second quarter. Xponance Inc. now owns 13,944 shares of the credit services provider’s stock valued at $203,000 after acquiring an additional 1,440 shares in the last quarter. Finally, Covestor Ltd lifted its holdings in Navient by 24.6% in the third quarter. Covestor Ltd now owns 7,360 shares of the credit services provider’s stock valued at $115,000 after acquiring an additional 1,455 shares during the period. 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.