Navient Co. (NAVI) to Issue Quarterly Dividend of $0.16 on June 20th

Navient Co. (NASDAQ:NAVI) announced a quarterly dividend on Thursday, May 8th, RTT News reports. Shareholders of record on Friday, June 6th will be given a dividend of 0.16 per share by the credit services provider on Friday, June 20th. This represents a $0.64 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date is Friday, June 6th.

Navient has a payout ratio of 47.8% indicating that 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 Trading Up 1.4%

NAVI stock opened at $13.50 on Wednesday. The company has a debt-to-equity ratio of 16.35, a current ratio of 9.48 and a quick ratio of 9.49. Navient has a 1-year low of $10.53 and a 1-year high of $16.97. The business has a 50 day simple moving average of $12.47 and a two-hundred day simple moving average of $13.47. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 11.64 and a beta of 1.38.

Navient (NASDAQ:NAVI) last issued its earnings results on Wednesday, April 30th. The credit services provider reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.09. The firm had revenue of $156.00 million during the quarter, compared to analyst estimates of $150.40 million. Navient had a net margin of 2.96% and a return on equity of 6.69%. During the same quarter in the prior year, the business earned $0.47 earnings per share. Research analysts anticipate that Navient will post 1.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on NAVI shares. JPMorgan Chase & Co. raised their price objective on Navient from $11.00 to $12.50 and gave the company a “neutral” rating in a research report on Thursday, May 1st. Keefe, Bruyette & Woods dropped their price target on Navient from $16.00 to $14.00 and set a “market perform” rating for the company in a research note on Monday, March 31st. TD Cowen downgraded Navient from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 1st. TD Securities upped their price objective on Navient from $11.00 to $12.00 and gave the stock a “sell” rating in a report on Thursday, May 1st. Finally, Jefferies Financial Group lowered their target price on Navient from $14.00 to $12.00 and set a “hold” rating for the company in a research report on Monday, April 21st. Three analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $12.93.

Institutional Investors Weigh In On Navient

A hedge fund recently raised its stake in Navient stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Navient Co. (NASDAQ:NAVI) by 9.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 210,350 shares of the credit services provider’s stock after buying an additional 17,483 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.21% of Navient worth $2,657,000 at the end of the most recent quarter. Institutional investors own 97.14% of the company’s stock.

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.