Navient (NASDAQ:NAVI) Issues Earnings Results

Navient (NASDAQ:NAVI) released its quarterly earnings results on Wednesday. The credit services provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.58 by $0.05, reports. The business had revenue of $163.00 million for the quarter, compared to analyst estimates of $188.04 million. Navient had a net margin of 3.93% and a return on equity of 12.09%. Navient updated its FY 2024 guidance to 1.550-1.750 EPS.

Navient Trading Down 0.3 %

Shares of NAVI traded down $0.04 during mid-day trading on Friday, reaching $15.72. The company had a trading volume of 766,480 shares, compared to its average volume of 850,227. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 10.08 and a beta of 1.38. The firm has a fifty day simple moving average of $16.54 and a 200-day simple moving average of $17.09. Navient has a fifty-two week low of $14.10 and a fifty-two week high of $19.69. The company has a current ratio of 12.52, a quick ratio of 13.63 and a debt-to-equity ratio of 18.38.

Navient Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.16 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.07%. Navient’s dividend payout ratio (DPR) is presently 41.03%.

Analysts Set New Price Targets

Several analysts have recently commented on NAVI shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Navient in a research report on Wednesday, January 10th. They issued a “hold” rating and a $19.00 price target on the stock. StockNews.com lowered shares of Navient from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Barclays lowered their price target on shares of Navient from $13.00 to $11.00 and set an “underweight” rating on the stock in a research report on Thursday. Stephens lowered shares of Navient from an “equal weight” rating to an “underweight” rating and set a $16.00 price target on the stock. in a research report on Tuesday, January 2nd. Finally, JPMorgan Chase & Co. lowered their price target on shares of Navient from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Thursday. Three research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $16.10.

Insider Buying and Selling at Navient

In other Navient news, EVP Mark L. Heleen sold 10,000 shares of Navient stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $17.20, for a total value of $172,000.00. Following the transaction, the executive vice president now owns 385,577 shares in the company, valued at approximately $6,631,924.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 27.99% of the stock is owned by company insiders.

Hedge Funds Weigh In On Navient

A number of hedge funds have recently made changes to their positions in the stock. Donald Smith & CO. Inc. raised its stake in shares of Navient by 31.5% in the 4th quarter. Donald Smith & CO. Inc. now owns 3,586,501 shares of the credit services provider’s stock valued at $66,781,000 after acquiring an additional 858,890 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in shares of Navient in the 4th quarter valued at $13,546,000. DekaBank Deutsche Girozentrale raised its stake in shares of Navient by 207.8% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 231,186 shares of the credit services provider’s stock valued at $4,320,000 after acquiring an additional 156,086 shares during the period. Denali Advisors LLC raised its stake in shares of Navient by 115.9% in the 1st quarter. Denali Advisors LLC now owns 283,000 shares of the credit services provider’s stock valued at $4,924,000 after acquiring an additional 151,900 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in Navient by 24.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 541,674 shares of the credit services provider’s stock worth $9,328,000 after buying an additional 107,543 shares during the period. Institutional investors and hedge funds own 97.14% of the company’s stock.

Navient Company Profile

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.