Navient Corp (NAVI) Position Raised by Advisors Asset Management Inc.

Advisors Asset Management Inc. boosted its stake in Navient Corp (NASDAQ:NAVI) by 20.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 30,473 shares of the credit services provider’s stock after purchasing an additional 5,233 shares during the quarter. Advisors Asset Management Inc.’s holdings in Navient were worth $397,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio grew its stake in Navient by 10.6% during the second quarter. Public Employees Retirement System of Ohio now owns 146,763 shares of the credit services provider’s stock worth $1,912,000 after buying an additional 14,053 shares during the period. Verition Fund Management LLC boosted its stake in shares of Navient by 714.1% in the second quarter. Verition Fund Management LLC now owns 96,191 shares of the credit services provider’s stock valued at $1,253,000 after purchasing an additional 84,375 shares during the period. Sapience Investments LLC purchased a new position in shares of Navient in the second quarter valued at $10,344,000. Lingohr & Partner Asset Management GmbH purchased a new position in shares of Navient in the second quarter valued at $1,410,000. Finally, MetLife Investment Advisors LLC boosted its stake in shares of Navient by 110.1% in the second quarter. MetLife Investment Advisors LLC now owns 166,305 shares of the credit services provider’s stock valued at $2,167,000 after purchasing an additional 87,155 shares during the period. Hedge funds and other institutional investors own 91.65% of the company’s stock.

Several brokerages have recently weighed in on NAVI. ValuEngine downgraded shares of Navient from a “hold” rating to a “sell” rating in a research note on Saturday, October 27th. BidaskClub upgraded shares of Navient from a “strong sell” rating to a “sell” rating in a research note on Thursday. Zacks Investment Research downgraded shares of Navient from a “buy” rating to a “hold” rating in a research note on Monday, October 29th. Citigroup decreased their target price on shares of Navient from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, October 25th. Finally, Oppenheimer restated a “hold” rating on shares of Navient in a research note on Thursday, October 25th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. Navient has an average rating of “Hold” and a consensus target price of $15.79.

NAVI opened at $12.63 on Friday. The firm has a market capitalization of $3.17 billion, a P/E ratio of 7.06 and a beta of 2.12. The company has a debt-to-equity ratio of 25.59, a quick ratio of 21.92 and a current ratio of 19.74. Navient Corp has a 12-month low of $11.30 and a 12-month high of $15.02.

Navient (NASDAQ:NAVI) last posted its quarterly earnings results on Tuesday, October 23rd. The credit services provider reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.04. The firm had revenue of $327.00 million for the quarter, compared to analysts’ expectations of $310.17 million. Navient had a net margin of 4.29% and a return on equity of 13.43%. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.55 earnings per share. As a group, equities research analysts anticipate that Navient Corp will post 1.9 EPS for the current fiscal year.

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Navient Company Profile

Navient Corporation provides asset management and business processing services to education, health care, and government clients at the federal, state, and local levels in the United States. The company operates in three segments: Federal Family Education Loan Program (FFELP) Loans, Private Education Loans, and Business Services.

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Institutional Ownership by Quarter for Navient (NASDAQ:NAVI)

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