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

Nelnet, Inc. (NYSE:NNI) announced a quarterly dividend on Thursday, November 7th,Wall Street Journal reports. Stockholders of record on Monday, December 2nd will be given a dividend of 0.28 per share by the credit services provider on Monday, December 16th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Monday, December 2nd.

Nelnet has increased its dividend payment by an average of 8.9% annually over the last three years. Nelnet has a payout ratio of 19.0% 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

NYSE NNI opened at $108.92 on Friday. The company has a debt-to-equity ratio of 2.78, a quick ratio of 31.47 and a current ratio of 31.47. The stock’s fifty day moving average is $112.04 and its two-hundred day moving average is $108.91. The firm has a market capitalization of $3.95 billion, a P/E ratio of 35.83 and a beta of 0.92. Nelnet has a fifty-two week low of $82.22 and a fifty-two week high of $127.32.

Insider Activity at Nelnet

In other news, insider William J. Munn sold 2,500 shares of the business’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 sale, the insider now directly owns 9,354 shares of the company’s stock, valued at approximately $1,018,557.06. The trade was a 21.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 50.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on NNI shares. StockNews.com lowered shares of Nelnet from a “buy” rating to a “hold” rating in a report on Monday, August 12th. TD Cowen lifted their price target on shares of Nelnet from $96.00 to $98.00 and gave the company a “hold” rating in a research report on Monday, August 12th.

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.