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

Nelnet, Inc. (NYSE:NNI) declared a quarterly dividend on Thursday, January 30th,RTT News reports. Investors 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 annualized dividend and a yield of 1.01%.

Nelnet has raised its dividend payment by an average of 7.6% per year over the last three years. Nelnet has a payout ratio of 17.5% meaning its dividend is sufficiently covered by earnings. 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

NYSE:NNI traded down $0.61 during midday trading on Thursday, hitting $110.81. The company’s stock had a trading volume of 31,291 shares, compared to its average volume of 39,278. The firm has a market cap of $4.02 billion, a P/E ratio of 36.45 and a beta of 0.91. Nelnet has a fifty-two week low of $83.75 and a fifty-two week high of $127.32. The firm’s 50 day moving average is $107.64 and its 200-day moving average 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 issued its quarterly earnings data on Thursday, November 7th. The credit services provider reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $1.36 by ($1.02). The firm 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 earnings per share. Equities analysts anticipate that Nelnet will post 4.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

In other Nelnet news, insider William J. Munn sold 2,500 shares of the stock in a transaction dated Wednesday, November 13th. The shares were 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 owns 9,354 shares in the company, valued at approximately $1,018,557.06. This represents a 21.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 50.10% of the company’s stock.

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.