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

Nelnet, Inc. (NYSE:NNI - Get Free Report) announced a quarterly dividend on Thursday, January 30th,RTT News reports. Stockholders of record on Friday, February 28th will be given 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 dividend yield of 1.02%. The ex-dividend date is Friday, February 28th.

Nelnet has increased its dividend payment by an average of 7.6% per year over the last three years. Nelnet has a 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 Trading Down 0.3 %

NNI stock traded down $0.33 during trading on Monday, hitting $109.84. The company had a trading volume of 44,017 shares, compared to its average volume of 39,791. Nelnet has a 52-week low of $83.75 and a 52-week high of $127.32. The company has a 50 day simple moving average of $107.78 and a 200-day simple moving average of $110.29. The firm has a market capitalization of $3.99 billion, a P/E ratio of 36.13 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 - Get Free Report) last announced 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 company had revenue of $477.80 million for the quarter. Nelnet had a net margin of 5.54% and a return on equity of 3.78%. During the same quarter in the previous year, the business earned $1.15 earnings per share. As a group, research analysts forecast that Nelnet will post 4.52 earnings per share for the current fiscal year.

Insider Transactions at Nelnet

In other Nelnet news, insider William J. Munn sold 2,500 shares of the company's stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $108.89, for a total transaction of $272,225.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 50.10% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Nelnet from a "hold" rating to a "buy" rating in a report on Saturday, January 25th.

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.