Welcome to our dedicated page for Navient news (Ticker: NAVI), a resource for investors and traders seeking the latest updates and insights on Navient stock.
Navient Corporation reports developments tied to education finance, portfolio management and digital lending through its Earnest subsidiary. The company owns and manages Federal Family Education Loan Program loans and private education loan portfolios, supports in-school and refinance private education loan originations, and provides servicing oversight after shifting to an outsourced servicing model.
Recurring Navient news includes quarterly and year-end financial results, common-stock dividend declarations, leadership and board updates, and strategic actions to simplify the company following the divestiture of its business processing unit. Company updates also reference the performance and organization of its education finance activities, capital markets and corporate functions.
Navient (Nasdaq: NAVI) has reached an agreement with the Consumer Financial Protection Bureau (CFPB) to resolve long-standing litigation and investigations. While not agreeing with the CFPB's allegations, Navient views this resolution as a positive milestone in its corporate transformation. The company has exited the federal student loan servicing business, transferring its contract to a third party in 2021 with Department of Education approval. Additionally, Navient has outsourced servicing of its legacy FFELP student loan portfolios, effective July 1, 2024. Moving forward, Navient will oversee its third-party servicing provider to ensure compliance with the agreement's operational terms.
Navient (Nasdaq: NAVI) has announced its third quarter dividend for 2024. The company's board of directors has approved a dividend of $0.16 per share on common stock. This dividend will be paid on September 20, 2024, to shareholders who are on record at the close of business on September 6, 2024. This announcement demonstrates Navient's commitment to providing regular returns to its shareholders and maintaining its dividend policy.
Navient (Nasdaq: NAVI) has agreed to sell its Healthcare Services business, operating as Xtend Healthcare, to CorroHealth for $365 million in cash. This move aligns with Navient's strategy to simplify operations, reduce expenses, and enhance flexibility. The deal, expected to close by September 2024, will transfer approximately 950 employees to CorroHealth.
As of June 30, 2024, the Healthcare Services business had a book value of about $136 million, including $113 million in goodwill and intangible assets. Navient is also in discussions to potentially sell its Government Services businesses, which had a book value of $192 million as of the same date.
Navient (Nasdaq: NAVI) has released its financial results for the second quarter of 2024. The complete financial report is available on the company's website and will be filed with the SEC on Form 8-K. Navient will host a live audio webcast on July 24, 2024, at 8 a.m. ET, featuring David Yowan, president and CEO, and Joe Fisher, CFO. Analysts and investors wishing to participate in the Q&A session must pre-register at least 15 minutes before the start time. Others can join in listen-only mode without pre-registration. Supplemental financial information and presentation slides will be available at the start of the webcast, with a replay accessible approximately two hours after the event concludes.
Earnest, a leading fintech company focused on making higher education affordable, has been recognized on CNBC's list of the World's Top FinTech Companies of 2024. The company's CEO, David Green, highlighted that 92% of recent college graduates would have made different choices if they had understood their total debt. Earnest aims to help students make informed financial decisions through transparency and guidance.
Key achievements include:
- Refinanced $18.7 billion in student loans
- Served over 264,000 happy clients
- Maintains a 4.7/5 star rating on Trustpilot
- Named Best Private Student Loan Lender by U.S. News & World Report
Earnest's acquisition of Going Merry in 2021 expanded its services to help students access scholarships and financial aid before taking on debt. The platform is used by two-thirds of U.S. high schools.
Navient (Nasdaq: NAVI) will announce its 2024 second quarter financial results on July 24, 2024. The results will be released at 7:00 a.m. Eastern Time on the company's investor website and filed with the SEC on a Form 8-K. An audio webcast to review the results will be held at 8:00 a.m. Eastern Time the same day. Investors and analysts can pre-register for the webcast to ask questions or join in listen-only mode without registration. A replay will be available two hours after the event.
Navient (Nasdaq: NAVI) has announced a second quarter dividend for 2024, approved by its board of directors. Shareholders will receive $0.16 per share on common stock. The dividend is scheduled for payment on June 21, 2024, to those recorded as shareholders by June 7, 2024.
Earnest, a fintech company, appointed Nick Norcross as its new Chief Product Officer. With almost two decades of fintech product development experience, Norcross aims to make education accessible to all. Earnest CEO, David Green, praised Norcross's track record and passion for financial success. Norcross plans to focus on helping students achieve financial empowerment and accessibility to education.
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