Navient (NASDAQ:NAVI) Stock Price Down 5.9% – Here’s What Happened

Navient Co. (NASDAQ:NAVI) shares dropped 5.9% on Friday . The stock traded as low as $10.70 and last traded at $10.75. Approximately 106,965 shares traded hands during trading, a decline of 86% from the average daily volume of 792,172 shares. The stock had previously closed at $11.42.

Analysts Set New Price Targets

NAVI has been the topic of several research reports. Bank of America dropped their target price on shares of Navient from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Tuesday, December 24th. TD Cowen upgraded Navient from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods cut their price objective on Navient from $16.00 to $14.00 and set a “market perform” rating for the company in a report on Monday, March 31st. JPMorgan Chase & Co. lowered their target price on Navient from $13.50 to $11.00 and set a “neutral” rating on the stock in a report on Tuesday. Finally, StockNews.com downgraded Navient from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $13.00.

Navient Trading Down 3.6 %

The company has a market capitalization of $1.13 billion, a P/E ratio of 9.48 and a beta of 1.24. The company has a debt-to-equity ratio of 16.35, a quick ratio of 9.49 and a current ratio of 9.48. The stock has a fifty day moving average of $13.22 and a 200 day moving average of $14.15.

Navient (NASDAQ:NAVI) last posted its quarterly earnings data on Wednesday, January 29th. The credit services provider reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Navient had a net margin of 2.96% and a return on equity of 6.69%. As a group, equities research analysts anticipate that Navient Co. will post 1.04 EPS for the current fiscal year.

Navient Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were given a $0.16 dividend. The ex-dividend date was Friday, March 7th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 5.81%. Navient’s payout ratio is currently 55.17%.

Institutional Trading of Navient

Several institutional investors and hedge funds have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Navient by 1.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,052 shares of the credit services provider’s stock valued at $585,000 after buying an additional 823 shares in the last quarter. Quantinno Capital Management LP grew its stake in Navient by 12.6% during the third quarter. Quantinno Capital Management LP now owns 14,173 shares of the credit services provider’s stock valued at $221,000 after acquiring an additional 1,587 shares in the last quarter. Brevan Howard Capital Management LP increased its holdings in Navient by 16.3% in the 4th quarter. Brevan Howard Capital Management LP now owns 12,877 shares of the credit services provider’s stock valued at $171,000 after acquiring an additional 1,804 shares during the last quarter. Sterling Capital Management LLC grew its position in Navient by 815.0% in the fourth quarter. Sterling Capital Management LLC now owns 2,443 shares of the credit services provider’s stock worth $32,000 after acquiring an additional 2,176 shares in the last quarter. Finally, Wedge Capital Management L L P NC increased its stake in Navient by 4.8% during the fourth quarter. Wedge Capital Management L L P NC now owns 47,774 shares of the credit services provider’s stock worth $635,000 after acquiring an additional 2,190 shares during the last quarter. 97.14% of the stock is currently owned by institutional investors.

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.