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

Navient Corporation (NASDAQ:NAVI) declared a quarterly dividend on Thursday, May 21st. Stockholders of record on Friday, June 5th will be given a dividend of 0.16 per share by the credit services provider on Friday, June 19th. This represents a c) dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date of this dividend is Friday, June 5th.

Navient has a dividend payout ratio of 47.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Navient to earn $0.91 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 70.3%.

Navient Stock Performance

NASDAQ NAVI opened at $8.35 on Friday. The stock has a market cap of $784.82 million, a PE ratio of -13.25 and a beta of 1.24. The company has a current ratio of 7.67, a quick ratio of 7.67 and a debt-to-equity ratio of 16.49. Navient has a twelve month low of $7.80 and a twelve month high of $16.07. The stock has a fifty day simple moving average of $8.43 and a 200-day simple moving average of $10.36.

Navient (NASDAQ:NAVI) last released its quarterly earnings results on Wednesday, April 29th. The credit services provider reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. The business had revenue of $152.00 million during the quarter, compared to analysts’ expectations of $141.47 million. Navient had a positive return on equity of 4.39% and a negative net margin of 1.94%.During the same period in the prior year, the business posted $0.25 EPS. Equities analysts anticipate that Navient will post 0.71 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Orbis Allan Gray Ltd grew its stake in Navient by 23.2% during the 2nd quarter. Orbis Allan Gray Ltd now owns 2,848,718 shares of the credit services provider’s stock worth $40,167,000 after buying an additional 536,933 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Navient by 20.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,484,742 shares of the credit services provider’s stock worth $32,302,000 after buying an additional 418,161 shares during the last quarter. American Century Companies Inc. grew its stake in Navient by 6.8% during the 3rd quarter. American Century Companies Inc. now owns 2,159,730 shares of the credit services provider’s stock worth $28,400,000 after buying an additional 138,020 shares during the last quarter. Lighthouse Investment Partners LLC grew its stake in Navient by 790.1% during the 3rd quarter. Lighthouse Investment Partners LLC now owns 1,590,339 shares of the credit services provider’s stock worth $20,913,000 after buying an additional 1,411,662 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Navient by 37.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,543,796 shares of the credit services provider’s stock worth $20,069,000 after buying an additional 423,381 shares during the last quarter. Hedge funds and other institutional investors own 97.14% of the company’s stock.

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.