Stock traders buy high volume put options on Navient (NASDAQ:NAVI)

Navient Co. (NASDAQ:NAVI – Get Rating) was the target of unusually large options trades on Friday. Equity investors bought 24,005 put options on the company. This is a 6,531% increase from the typical volume of 362 put options.

Analysts set new price targets

A number of stock analysts have published reports on the company. Keefe, Bruyette & Woods reduced their price target on Navient from $18.00 to $17.00 in a Monday July 11 research note. Barclays downgraded Navient from an “overweight” rating to an “equally weighted” rating and lowered its price target for the company from $19.00 to $13.00 in a Friday, September 9 research note. Citigroup raised its price target on Navient from $16.00 to $18.00 in a Thursday, July 28 research note. Finally, Compass Point reduced its price target on Navient to $12.50 in a research note on Tuesday. One research analyst rated the stock with a sell rating, seven issued a hold rating and one gave the company a buy rating. According to data from MarketBeat, Navient currently has an average rating of “Hold” and an average price target of $16.79.

Stock Navient down 4.2%

Shares of NAVI traded down $0.58 during Friday’s midday session, hitting $13.11. The company’s shares had a trading volume of 103,934 shares, compared to an average volume of 2,349,360. The company has a market capitalization of $1.86 billion, a price-earnings ratio of 3.46 and a beta of 1.66. The company has a fifty-day moving average of $15.56 and a 200-day moving average of $15.68. Navient has a 1-year minimum of $12.45 and a 1-year maximum of $23.44. The company has a quick ratio of 15.69, a current ratio of 15.69 and a debt ratio of 23.14.

Navient (NASDAQ:NAVI – Get Rating) last released its quarterly results on Tuesday, July 26. The credit service provider reported earnings per share (EPS) of $0.92 for the quarter, beating the consensus estimate of $0.79 by $0.13. The company posted revenue of $271.00 million for the quarter, versus a 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 company posted earnings per share of $0.94. As a group, analysts expect Navient to post earnings per share of 3.4 for the current fiscal year.

Navient Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 16. Investors of record on Friday, September 2 received a dividend of $0.16 per share. This represents a dividend of $0.64 on an annualized basis and a yield of 4.88%. The ex-dividend date was Thursday, September 1. Navient’s dividend payout ratio (DPR) is currently 16.58%.

Institutional investors weigh in on Navient

Institutional investors have recently increased or reduced their stake in the company. Captrust Financial Advisors increased its stake in Navient by 88.8% during the second quarter. Captrust Financial Advisors now owns 11,749 shares of the credit services provider worth $164,000 after buying an additional 5,525 shares during the period. ExodusPoint Capital Management LP increased 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 worth $1,549,000 after purchasing an additional 99,076 shares during the period. United Services Automobile Association bought a new stock position in Navient in the second quarter worth about $231,000. Price T Rowe Associates Inc. MD increased its stake in Navient shares by 0.7% in the second quarter. Price T Rowe Associates Inc. MD now owns 91,373 shares of the credit services provider valued at $1,278,000 after acquiring 657 additional shares in the last quarter. Finally, Prudential Financial Inc. increased its stake in Navient shares by 9.5% in the second quarter. Prudential Financial Inc. now owns 459,334 shares of the credit service provider valued at $6,426,000 after acquiring an additional 39,700 shares in the last quarter. 93.65% of the shares are held by institutional investors and hedge funds.

About Navient

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Navient Corporation provides student loan management and business processing solutions for education, healthcare and government customers at the federal, state and local levels in the United States. It operates through three segments: Federal Education Loans, Consumer Loans and Business Processing.

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