Navient (NASDAQ:NAVI) Announces Earnings Results

Navient (NASDAQ:NAVI) released its quarterly earnings results on Wednesday. The credit services provider reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05, reports. The firm had revenue of $163.00 million during 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 Price Performance

Shares of Navient stock traded up $0.11 during trading on Friday, reaching $15.87. 49,120 shares of the company’s stock were exchanged, compared to its average volume of 918,194. The company has a market cap of $1.78 billion, a P/E ratio of 10.10 and a beta of 1.38. Navient has a 1-year low of $14.10 and a 1-year high of $19.69. The company has a debt-to-equity ratio of 18.38, a quick ratio of 13.63 and a current ratio of 12.52. The firm’s 50-day moving average price is $16.56 and its 200 day moving average price is $17.10.

Navient Announces Dividend

The business also recently disclosed 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 of this dividend was Thursday, February 29th. This represents a $0.64 annualized dividend and a yield of 4.03%. Navient’s dividend payout ratio is presently 41.03%.

Insider Buying and Selling

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

Institutional Investors Weigh In On Navient

Large investors have recently added to or reduced their stakes in the company. Impact Partnership Wealth LLC grew its position in shares of Navient by 277.8% during the 3rd quarter. Impact Partnership Wealth LLC now owns 1,511 shares of the credit services provider’s stock valued at $26,000 after acquiring an additional 1,111 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of Navient during the first quarter worth $36,000. CWM LLC grew its position in shares of Navient by 314.6% in the third quarter. CWM LLC now owns 2,193 shares of the credit services provider’s stock valued at $38,000 after purchasing an additional 1,664 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Navient by 13.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,236 shares of the credit services provider’s stock valued at $90,000 after buying an additional 607 shares during the period. Finally, Exchange Traded Concepts LLC lifted its holdings in Navient by 367.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 6,795 shares of the credit services provider’s stock worth $117,000 after buying an additional 5,342 shares in the last quarter. Hedge funds and other institutional investors own 97.14% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on NAVI shares. Barclays decreased their price target on shares of Navient from $13.00 to $11.00 and set an “underweight” rating for the company in a research note on Thursday. JPMorgan Chase & Co. decreased their price objective on shares of Navient from $17.00 to $16.00 and set a “neutral” rating for the company in a report on Thursday. Stephens downgraded shares of Navient from an “equal weight” rating to an “underweight” rating and set a $16.00 price objective on the stock. in a report on Tuesday, January 2nd. Deutsche Bank Aktiengesellschaft began coverage on shares of Navient in a report on Wednesday, January 10th. They issued a “hold” rating and a $19.00 price objective for the company. Finally, StockNews.com downgraded shares of Navient from a “buy” rating to a “hold” rating in a research note on Thursday, February 1st. Three equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $16.30.

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.