Navient Co. (NASDAQ:NAVI) Plans $0.16 Quarterly Dividend

Posted by admin on May 26th, 2023

Navient Co. (NASDAQ:NAVI – Get Rating) announced a quarterly dividend on Thursday, May 25th, Zacks reports. Investors of record on Friday, June 2nd will be given a dividend of 0.16 per share by the credit services provider on Friday, June 16th. This represents a $0.64 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date of this dividend is Thursday, June 1st.

Navient has a dividend payout ratio of 21.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Navient to earn $3.03 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 21.1%.

Navient Stock Up 0.7 %

NAVI opened at $15.23 on Friday. The company has a market capitalization of $1.93 billion, a PE ratio of 4.22 and a beta of 1.52. The business has a 50-day moving average of $15.66 and a 200-day moving average of $16.65. Navient has a fifty-two week low of $12.45 and a fifty-two week high of $19.34. The company has a debt-to-equity ratio of 19.40, a current ratio of 10.99 and a quick ratio of 10.99.

Navient (NASDAQ:NAVI – Get Rating) last announced its quarterly earnings results on Wednesday, April 26th. The credit services provider reported $1.06 EPS for the quarter, topping the consensus estimate of $0.88 by $0.18. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $230.68 million. Navient had a net margin of 12.07% and a return on equity of 16.24%. During the same quarter in the prior year, the business posted $0.90 EPS. Equities research analysts forecast that Navient will post 3.26 EPS for the current fiscal year.

Institutional Investors Weigh In On Navient

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. United Services Automobile Association bought a new position in shares of Navient in the second quarter valued at about $231,000. PDT Partners LLC acquired a new position in shares of Navient during the second quarter worth approximately $229,000. Walleye Capital LLC bought a new stake in shares of Navient during the first quarter valued at approximately $215,000. Mercer Global Advisors Inc. ADV raised its position in Navient by 7.2% in the 1st quarter. Mercer Global Advisors Inc. ADV now owns 13,154 shares of the credit services provider’s stock worth $210,000 after purchasing an additional 881 shares during the last quarter. Finally, Two Sigma Advisers LP acquired a new position in Navient during the 1st quarter worth $206,000. 70.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Stephens raised their target price on shares of Navient from $17.00 to $20.00 in a research note on Thursday, January 26th. Credit Suisse Group upped their price target on Navient from $14.00 to $16.50 and gave the company a “neutral” rating in a report on Thursday, January 26th. Citigroup decreased their price objective on Navient from $19.00 to $17.00 in a report on Tuesday, April 18th. BMO Capital Markets boosted their price target on shares of Navient from $17.00 to $19.00 and gave the company a “market perform” rating in a report on Thursday, January 26th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Navient from $18.00 to $16.00 and set an “underweight” rating for the company in a report on Monday, April 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $17.30.

About Navient

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Navient Corp. engages in the provision of asset management and business processing solutions for education, healthcare and government clients at the federal, state and local levels. It operates through the following segments: Federal Education Loans, Consumer Lending, Business Processing and Other. The Federal Education Loans segment owns FFELP Loans and performs servicing and asset recovery services on FFELP Loan portfolio.