Allianz Asset Management GmbH Purchases 100,577 Shares of Navient Corporation $NAVI

Allianz Asset Management GmbH grew its position in Navient Corporation (NASDAQ:NAVI) by 26.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 481,617 shares of the credit services provider’s stock after acquiring an additional 100,577 shares during the quarter. Allianz Asset Management GmbH owned 0.48% of Navient worth $6,791,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Neuberger Berman Group LLC increased its stake in Navient by 5.6% in the 1st quarter. Neuberger Berman Group LLC now owns 18,100 shares of the credit services provider’s stock worth $229,000 after acquiring an additional 962 shares during the last quarter. Covestor Ltd increased its position in shares of Navient by 15.7% during the 1st quarter. Covestor Ltd now owns 7,303 shares of the credit services provider’s stock valued at $92,000 after purchasing an additional 993 shares during the last quarter. Wedge Capital Management L L P NC increased its position in shares of Navient by 1.8% during the 2nd quarter. Wedge Capital Management L L P NC now owns 57,611 shares of the credit services provider’s stock valued at $812,000 after purchasing an additional 999 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in shares of Navient by 9.5% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 11,620 shares of the credit services provider’s stock valued at $164,000 after purchasing an additional 1,012 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its position in shares of Navient by 5.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 43,414 shares of the credit services provider’s stock valued at $611,000 after purchasing an additional 2,322 shares during the last quarter. Institutional investors own 97.14% of the company’s stock.

Navient Stock Performance

Shares of Navient stock opened at $12.62 on Thursday. The stock’s fifty day moving average is $13.04 and its two-hundred day moving average is $13.16. The company has a market capitalization of $1.25 billion, a PE ratio of 40.71 and a beta of 1.34. The company has a quick ratio of 9.94, a current ratio of 9.94 and a debt-to-equity ratio of 16.52. Navient Corporation has a 52 week low of $10.53 and a 52 week high of $16.15.

Navient (NASDAQ:NAVI) last announced its quarterly earnings data on Monday, February 28th. The credit services provider reported $0.97 EPS for the quarter. The company had revenue of $511.00 million for the quarter. Navient had a return on equity of 4.08% and a net margin of 0.89%. As a group, analysts expect that Navient Corporation will post 1.04 earnings per share for the current year.

Navient Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 5th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 5.1%. Navient’s dividend payout ratio is presently 206.45%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NAVI. Morgan Stanley cut their target price on Navient from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 31st. Bank of America downgraded Navient from a “neutral” rating to an “underperform” rating and set a $12.00 target price on the stock. in a research report on Thursday, September 4th. JPMorgan Chase & Co. cut their target price on Navient from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 7th. Keefe, Bruyette & Woods cut their target price on Navient from $15.00 to $14.50 and set a “market perform” rating on the stock in a research report on Wednesday, October 1st. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Navient in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, Navient currently has a consensus rating of “Reduce” and an average target price of $13.07.

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.