Navient Corporation (NASDAQ:NAVI) Shareholders Set to Receive $0.16 Quarterly Dividend

Key Points

• Navient declared a quarterly dividend of $0.16 per share, payable December 18 to shareholders of record December 4. The annualized dividend is $0.64, representing a 10.8% yield.
• The dividend appears covered by earnings: the current payout ratio is 47.8%, and analysts expect next year’s earnings to cover the annual dividend at a projected 66% payout ratio.
• Navient reported quarterly EPS of $0.03, missing the $0.13 consensus estimate. Shares opened at $5.92, close to the stock’s 52-week low of $5.91.

Navient Corporation (NASDAQ:NAVI - Get Free Report) declared a quarterly dividend on Wednesday, November 11th. Stockholders of record on Friday, December 4th will be paid a dividend of $0.16 per share by the credit services provider on Friday, December 18th. This represents a $0.64 annualized dividend and a dividend yield of 10.8%. The ex-dividend date of this dividend is Friday, December 4th.

Navient has a dividend payout ratio of 47.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Navient to earn $0.97 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 66.0%.

Navient Price Performance

Shares of NAVI opened at $5.92 on Thursday. The company's 50-day moving average is $9.02 and its 200-day moving average is $8.79. The company has a debt-to-equity ratio of 15.37, a current ratio of 7.50 and a quick ratio of 10.53. The firm has a market capitalization of $555.18 million, a PE ratio of 11.17 and a beta of 1.17. Navient has a fifty-two week low of $5.91 and a fifty-two week high of $13.48.

Navient (NASDAQ:NAVI - Get Free Report) last announced its earnings results on Wednesday, November 4th. The credit services provider reported $0.03 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.10). Navient had a return on equity of 3.65% and a net margin of 1.79%. The company had revenue of $308.00 million for the quarter, compared to the consensus estimate of $144.92 million. During the same period in the previous year, the firm posted ($0.84) EPS. Equities analysts forecast that Navient will post 0.69 EPS for the current year.

Institutional Investors Weigh In On Navient

A number of institutional investors have recently modified their holdings of the business. Boston Partners acquired a new stake in Navient in the 3rd quarter worth about $20,711,000. Global Retirement Partners LLC grew its position in shares of Navient by 286.7% during the 3rd quarter. Global Retirement Partners LLC now owns 4,223 shares of the credit services provider's stock worth $38,000 after purchasing an additional 3,131 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of Navient by 574.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 834,682 shares of the credit services provider's stock worth $7,571,000 after purchasing an additional 710,875 shares in the last quarter. Brighton Jones LLC acquired a new position in shares of Navient during the 3rd quarter worth approximately $98,000. Finally, Parallel Advisors LLC increased its holdings in shares of Navient by 72.7% during the third quarter. Parallel Advisors LLC now owns 12,247 shares of the credit services provider's stock worth $111,000 after purchasing an additional 5,157 shares during the period. Institutional investors own 97.14% of the company's stock.

Navient Company Profile

Navient is a U.S.-focused education finance company whose business has centered on managing student loan portfolios and providing loan servicing. Its services have included payment processing, borrower account support and repayment assistance for federal and private education loans, as well as asset-recovery and business-processing services. The company was formed in 2014 through the separation of SLM Corporation, commonly known as Sallie Mae. Navient later transferred federal student loan servicing operations to other providers, including a transfer to Maximus in 2021 and an agreement to move its remaining federal servicing accounts to MOHELA in 2024.

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