Nelnet, Inc. Announces Quarterly Dividend of $0.28 (NYSE:NNI)

Nelnet, Inc. (NYSE:NNI) declared 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 dividend yield of 1.01%.

Nelnet has increased its dividend 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. Equities 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 Price Performance

Shares of NYSE:NNI opened at $110.81 on Friday. The business has a fifty day simple moving average of $107.64 and a 200-day simple moving average of $110.28. Nelnet has a 52 week low of $83.75 and a 52 week high of $127.32. The company has a market cap of $4.02 billion, a P/E ratio of 36.45 and a beta of 0.91. The company has a quick ratio of 31.47, a current ratio of 31.47 and a debt-to-equity ratio of 2.78.

Nelnet (NYSE:NNI) last posted its quarterly earnings results on Thursday, November 7th. The credit services provider reported $0.34 EPS for the quarter, missing the consensus estimate of $1.36 by ($1.02). The business had revenue of $477.80 million during the quarter. Nelnet had a net margin of 5.54% and a return on equity of 3.78%. During the same period last year, the business earned $1.15 EPS. Equities research analysts forecast that Nelnet will post 4.52 EPS for the current year.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of 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 firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $108.89, for a total value of $272,225.00. Following the transaction, the insider now owns 9,354 shares in the company, valued at approximately $1,018,557.06. This trade represents a 21.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 50.10% of the stock is owned by insiders.

About Nelnet

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.