Nelnet, Inc. (NYSE:NNI) to Issue $0.28 Quarterly Dividend

Nelnet, Inc. (NYSE:NNI) announced a quarterly dividend on Thursday, January 30th,RTT News reports. Shareholders of record on Friday, February 28th will be paid a dividend of 0.28 per share by the credit services provider on Friday, March 14th. This represents a $1.12 dividend on an annualized basis and a yield of 1.01%.

Nelnet has increased its dividend payment by an average of 7.6% annually over the last three years. Nelnet has a dividend payout ratio of 17.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Nelnet to earn $5.90 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 19.0%.

Nelnet Stock Performance

Shares of NNI traded down $0.61 during midday trading on Thursday, reaching $110.81. 31,291 shares of the stock were exchanged, compared to its average volume of 39,278. The company has a market capitalization of $4.02 billion, a price-to-earnings ratio of 36.45 and a beta of 0.91. Nelnet has a twelve month low of $83.75 and a twelve month high of $127.32. The business’s 50-day moving average price is $107.64 and its 200 day moving average price is $110.28. The company has a debt-to-equity ratio of 2.78, a current ratio of 31.47 and a quick ratio of 31.47.

Nelnet (NYSE:NNI) last released its earnings results on Thursday, November 7th. The credit services provider reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.36 by ($1.02). The business had revenue of $477.80 million for the quarter. Nelnet had a return on equity of 3.78% and a net margin of 5.54%. During the same quarter last year, the firm earned $1.15 EPS. On average, sell-side analysts expect that Nelnet will post 4.52 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Nelnet from a “hold” rating to a “buy” rating in a research note on Saturday, January 25th.

Insider Activity at Nelnet

In related news, insider William J. Munn sold 2,500 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $108.89, for a total value of $272,225.00. Following the completion of the sale, the insider now directly owns 9,354 shares in the company, valued at approximately $1,018,557.06. This represents a 21.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 50.10% of the stock is owned by corporate insiders.

Nelnet Company Profile

Nelnet, Inc engages in loan servicing, communications, education technology, services, and payment processing businesses worldwide. The Loan Servicing and Systems segment provides loan conversion, application processing, borrower updates, customer service, payment processing, due diligence procedures, funds management reconciliation, and claim processing services.