Navient (NAVI) Declares $0.16 Dividend
Navient said on May 25, 2023 that its board of directors declared a regular quarterly dividend of $0.16 per share ($0.64 annualized). Previously, the company paid $0.16 per share.
Shares must be purchased before the ex-div date of June 1, 2023 to qualify for the dividend. Shareholders of record as of June 2, 2023 will receive the payment on June 16, 2023.
At the current share price of $15.55 / share, the stock's dividend yield is 4.12%.
Looking back five years and taking a sample every week, the average dividend yield has been 4.96%, the lowest has been 2.73%, and the highest has been 10.56%. The standard deviation of yields is 1.57 (n=237).
The current dividend yield is 0.54 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.16. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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What is the Fund Sentiment?
There are 627 funds or institutions reporting positions in Navient. This is an increase of 5 owner(s) or 0.80% in the last quarter. Average portfolio weight of all funds dedicated to NAVI is 0.13%, an increase of 9.73%. Total shares owned by institutions decreased in the last three months by 2.87% to 130,367K shares. 
The put/call ratio of NAVI is 12.23, indicating a bearish outlook.
Analyst Price Forecast Suggests 20.62% Upside
As of May 11, 2023, the average one-year price target for Navient is 18.76. The forecasts range from a low of 16.16 to a high of $23.10. The average price target represents an increase of 20.62% from its latest reported closing price of 15.55.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Navient is 917MM, a decrease of 36.73%. The projected annual non-GAAP EPS is 2.96.
What are Other Shareholders Doing?
Sherborne Investors Management holds 29,450K shares representing 23.29% ownership of the company. No change in the last quarter.
Lsv Asset Management holds 6,325K shares representing 5.00% ownership of the company. In it's prior filing, the firm reported owning 6,636K shares, representing a decrease of 4.92%. The firm decreased its portfolio allocation in NAVI by 5.78% over the last quarter.
DFSVX - U.s. Small Cap Value Portfolio - Institutional Class holds 3,578K shares representing 2.83% ownership of the company. In it's prior filing, the firm reported owning 3,686K shares, representing a decrease of 3.00%. The firm increased its portfolio allocation in NAVI by 18.25% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 3,128K shares representing 2.47% ownership of the company. In it's prior filing, the firm reported owning 3,267K shares, representing a decrease of 4.42%. The firm decreased its portfolio allocation in NAVI by 10.91% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,091K shares representing 2.44% ownership of the company. In it's prior filing, the firm reported owning 3,082K shares, representing an increase of 0.31%. The firm decreased its portfolio allocation in NAVI by 9.97% over the last quarter.
Navient Background Information
(This description is provided by the company.)
Navient is a leading provider of education loan management and business processing solutions for education, healthcare, and government clients at the federal, state, and local levels. Navient helps clients and millions of Americans achieve success through technology-enabled financing, services, and support.
Key filings for this company:
This story originally appeared on Fintel.