Navient Corporation (NAVI) To Go Ex-Dividend on September 4th

Navient Corporation (NASDAQ:NAVI) announced a quarterly dividend on Thursday, August 13th. Investors of record on Friday, September 4th will be given a dividend of 0.16 per share by the credit services provider on Friday, September 18th. This represents a c) annualized dividend and a yield of 7.0%. The ex-dividend date of this dividend is Friday, September 4th.

Navient has a dividend payout ratio of 47.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Navient to earn $0.95 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 67.4%.

Navient Stock Performance

Shares of NAVI stock opened at $9.17 on Friday. The firm has a market capitalization of $860.00 million, a PE ratio of -18.34 and a beta of 1.18. The firm has a fifty day simple moving average of $8.47 and a two-hundred day simple moving average of $8.66. The company has a current ratio of 10.53, a quick ratio of 7.67 and a debt-to-equity ratio of 16.73. Navient has a 12 month low of $7.33 and a 12 month high of $13.87.

Navient (NASDAQ:NAVI) last released its quarterly earnings data on Thursday, August 6th. The credit services provider reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.09. The firm had revenue of $150.00 million for the quarter, compared to analyst estimates of $142.87 million. Navient had a negative net margin of 1.64% and a positive return on equity of 4.68%. During the same period last year, the firm earned $0.20 earnings per share. Analysts forecast that Navient will post 0.76 EPS for the current fiscal year.

Institutional Trading of Navient

A number of institutional investors and hedge funds have recently modified their holdings of the business. Man Group plc purchased a new position in Navient in the second quarter worth $4,064,000. Jupiter Topco LLC bought a new position in Navient in the 2nd quarter valued at $299,000. Hsbc Holdings PLC purchased a new stake in shares of Navient during the 2nd quarter valued at $1,093,000. PDT Partners LLC purchased a new stake in shares of Navient during the 2nd quarter valued at $4,435,000. Finally, Legal & General Group Plc bought a new stake in shares of Navient during the 2nd quarter worth $1,295,000. 97.14% of the stock is owned by hedge funds and other institutional investors.

About Navient

Navient Corporation (NASDAQ: NAVI) is a specialized provider of asset management and business processing solutions, with a primary focus on student loan servicing. Established in 2014 through the separation from Sallie Mae, Navient assumed responsibility for servicing federal and private education loans, positioning itself as one of the largest servicers of higher education debt in the United States.

The company’s core activities center on federal student loan servicing under contracts with the U.S.