Navient Corporation (NASDAQ:NAVI) Declares $0.16 Quarterly Dividend

Navient Corporation (NASDAQ:NAVI) declared a quarterly dividend on Wednesday, November 12th. Stockholders of record on Friday, December 5th will be given a dividend of 0.16 per share by the credit services provider on Friday, December 19th. This represents a c) annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend is Friday, December 5th.

Navient has a dividend payout ratio of 47.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Navient to earn $1.41 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 45.4%.

Navient Price Performance

Shares of NASDAQ:NAVI opened at $12.22 on Thursday. The company has a debt-to-equity ratio of 16.98, a quick ratio of 9.41 and a current ratio of 9.41. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of -22.63 and a beta of 1.33. The firm has a fifty day moving average price of $12.67 and a 200 day moving average price of $13.27. Navient has a fifty-two week low of $10.53 and a fifty-two week high of $16.07.

Navient (NASDAQ:NAVI) last released its quarterly earnings data on Monday, February 28th. The credit services provider reported $0.97 EPS for the quarter. The business had revenue of $511.00 million during the quarter. Navient had a negative net margin of 1.48% and a positive return on equity of 4.12%. As a group, sell-side analysts expect that Navient will post 1.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Navient

A number of institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its holdings in Navient by 32.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,439,903 shares of the credit services provider’s stock worth $18,186,000 after acquiring an additional 353,898 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in shares of Navient by 47.1% during the first quarter. Allianz Asset Management GmbH now owns 381,040 shares of the credit services provider’s stock valued at $4,813,000 after purchasing an additional 122,061 shares in the last quarter. Hsbc Holdings PLC increased its holdings in Navient by 31.5% during the first quarter. Hsbc Holdings PLC now owns 163,995 shares of the credit services provider’s stock valued at $2,068,000 after buying an additional 39,315 shares during the period. American Century Companies Inc. raised its stake in Navient by 7.3% in the first quarter. American Century Companies Inc. now owns 1,954,896 shares of the credit services provider’s stock worth $24,690,000 after buying an additional 132,313 shares in the last quarter. Finally, Voya Investment Management LLC lifted its holdings in Navient by 41.7% during the first quarter. Voya Investment Management LLC now owns 89,772 shares of the credit services provider’s stock worth $1,134,000 after buying an additional 26,414 shares during the period. 97.14% of the stock is owned by hedge funds and other 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.