Navient Corporation (NAVI) Given Consensus Recommendation of “Hold” by Analysts
Shares of Navient Corporation (NASDAQ:NAVI) have received a consensus rating of “Hold” from the fourteen brokerages that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $18.00.
Several brokerages recently issued reports on NAVI. ValuEngine upgraded shares of Navient from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Jefferies Group restated a “hold” rating and set a $16.00 target price on shares of Navient in a research report on Monday, October 16th. Zacks Investment Research upgraded shares of Navient from a “sell” rating to a “hold” rating in a research report on Tuesday, September 19th. Citigroup initiated coverage on shares of Navient in a report on Monday, October 16th. They set a “buy” rating and a $20.00 price target on the stock. Finally, BMO Capital Markets lowered their price target on shares of Navient from $16.00 to $14.00 and set a “market perform” rating on the stock in a report on Thursday, October 19th.
Shares of Navient (NASDAQ NAVI) opened at $12.91 on Thursday. The company has a current ratio of 33.10, a quick ratio of 33.10 and a debt-to-equity ratio of 30.58. The stock has a market cap of $3,453.35, a P/E ratio of 7.42 and a beta of 2.37. Navient has a 12-month low of $11.48 and a 12-month high of $17.48.
Navient declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, October 4th that permits the company to buyback outstanding shares. This buyback authorization permits the credit services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 4.96%. The ex-dividend date is Thursday, November 30th. Navient’s dividend payout ratio is currently 35.36%.
In related news, CFO Christian M. Lown bought 6,000 shares of the stock in a transaction dated Friday, October 20th. The shares were purchased at an average price of $12.35 per share, with a total value of $74,100.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John M. Kane sold 28,886 shares of the business’s stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $15.00, for a total transaction of $433,290.00. The disclosure for this sale can be found here. 1.68% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in NAVI. Creative Planning lifted its holdings in shares of Navient by 7.2% in the second quarter. Creative Planning now owns 7,066 shares of the credit services provider’s stock worth $118,000 after buying an additional 472 shares in the last quarter. Ffcm LLC lifted its holdings in shares of Navient by 144.5% in the second quarter. Ffcm LLC now owns 7,071 shares of the credit services provider’s stock worth $119,000 after buying an additional 4,179 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Navient in the third quarter worth $121,000. Bronfman E.L. Rothschild L.P. lifted its holdings in shares of Navient by 8.8% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 7,564 shares of the credit services provider’s stock worth $126,000 after buying an additional 612 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its holdings in shares of Navient by 84.0% in the third quarter. Advisors Asset Management Inc. now owns 10,168 shares of the credit services provider’s stock worth $153,000 after buying an additional 4,642 shares in the last quarter. 92.91% of the stock is currently owned by hedge funds and other institutional investors.
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Navient Corporation provides asset management and business processing services to education, healthcare and government clients at the federal, state and local levels. The Company holds the portfolio of education loans insured or federally guaranteed under the Federal Family Education Loan Program (FFELP).
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