Navient Corporation (NAVI) To Go Ex-Dividend on September 4th

Navient Corporation (NASDAQ:NAVI) announced a quarterly dividend on Thursday, August 13th. Shareholders of record on Friday, September 4th will be paid a dividend of 0.16 per share by the credit services provider on Friday, September 18th. This represents a c) annualized dividend and a yield of 6.9%. The ex-dividend date is Friday, September 4th.

Navient has a dividend payout ratio of 47.8% indicating that its dividend is sufficiently covered by earnings. 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 Stock Performance

Shares of NAVI stock opened at $9.28 on Wednesday. Navient has a 52-week low of $7.33 and a 52-week high of $13.87. The company has a quick ratio of 10.53, a current ratio of 10.53 and a debt-to-equity ratio of 16.73. The stock has a market cap of $870.32 million, a PE ratio of -18.56 and a beta of 1.18. The business has a 50-day simple moving average of $8.80 and a 200-day simple moving average of $8.57.

Navient (NASDAQ:NAVI) last announced its quarterly earnings results on Thursday, August 6th. The credit services provider reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.09. Navient had a positive return on equity of 4.68% and a negative net margin of 1.64%.The company had revenue of $150.00 million during the quarter, compared to analysts’ expectations of $142.87 million. During the same period last year, the business earned $0.20 earnings per share. On average, equities analysts expect that Navient will post 0.78 EPS for the current year.

Hedge Funds Weigh In On Navient

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NAVI. Parallel Advisors LLC raised its position in shares of Navient by 325.6% during the 1st quarter. Parallel Advisors LLC now owns 5,005 shares of the credit services provider’s stock worth $41,000 after purchasing an additional 3,829 shares during the last quarter. Versant Capital Management Inc boosted its holdings in Navient by 552.6% in the 2nd quarter. Versant Capital Management Inc now owns 4,855 shares of the credit services provider’s stock worth $41,000 after buying an additional 4,111 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in Navient during the 4th quarter worth approximately $44,000. PNC Financial Services Group Inc. increased its stake in Navient by 39.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,228 shares of the credit services provider’s stock worth $55,000 after buying an additional 1,191 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of Navient by 3,045.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 5,127 shares of the credit services provider’s stock valued at $67,000 after acquiring an additional 4,964 shares during the last quarter. 97.14% of the stock is owned by hedge funds and other institutional investors.

About Navient

Navient Corporation (NASDAQ: NAVI) is a specialized provider of asset management and business processing solutions, with a primary focus on student loan servicing. Established in 2014 through the separation from Sallie Mae, Navient assumed responsibility for servicing federal and private education loans, positioning itself as one of the largest servicers of higher education debt in the United States.

The company’s core activities center on federal student loan servicing under contracts with the U.S.