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

Navient Co. (NASDAQ:NAVI) declared a quarterly dividend on Monday, November 22nd, Zacks reports. Investors of record on Friday, December 3rd will be paid a dividend of 0.16 per share by the credit services provider on Friday, December 17th. This represents a $0.64 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend is Thursday, December 2nd.

Navient has a payout ratio of 20.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Navient to earn $3.09 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 20.7%.

Shares of NASDAQ NAVI opened at $20.49 on Wednesday. The firm has a market cap of $3.30 billion, a PE ratio of 4.03 and a beta of 1.77. The company has a current ratio of 27.93, a quick ratio of 27.93 and a debt-to-equity ratio of 27.66. Navient has a 1-year low of $9.07 and a 1-year high of $23.80. The company has a fifty day moving average price of $20.38 and a 200 day moving average price of $20.19.

Navient (NASDAQ:NAVI) last announced its earnings results on Tuesday, October 26th. The credit services provider reported $0.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.07. The firm had revenue of $299.00 million during the quarter, compared to analyst estimates of $269.99 million. Navient had a net margin of 25.74% and a return on equity of 29.54%. The company’s revenue for the quarter was down 6.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.99 EPS. Equities research analysts forecast that Navient will post 4.49 EPS for the current year.

An institutional investor recently raised its position in Navient stock. Morgan Stanley raised its stake in Navient Co. (NASDAQ:NAVI) by 224.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,119,626 shares of the credit services provider’s stock after acquiring an additional 774,347 shares during the quarter. Morgan Stanley owned about 0.67% of Navient worth $21,642,000 at the end of the most recent reporting period. 91.76% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have commented on the stock. Citigroup cut shares of Navient from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $19.00 to $21.00 in a research report on Thursday, July 29th. Zacks Investment Research raised shares of Navient from a “sell” rating to a “hold” rating and set a $21.00 price target on the stock in a research report on Monday, November 1st. Stephens boosted their price target on shares of Navient from $18.00 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, July 29th. Wedbush reissued an “outperform” rating on shares of Navient in a research report on Tuesday, November 2nd. Finally, Seaport Global Securities began coverage on shares of Navient in a report on Thursday, September 30th. They issued a “neutral” rating on the stock. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $20.83.

Navient Company Profile

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.

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Dividend History for Navient (NASDAQ:NAVI)

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