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

Nelnet, Inc. (NYSE:NNI) declared a quarterly dividend on Thursday, November 7th,Wall Street Journal reports. Investors of record on Monday, December 2nd will be paid 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 yield of 1.03%. The ex-dividend date of this dividend 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. Equities 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 Up 0.1 %

NNI stock opened at $108.92 on Friday. The firm’s 50-day moving average is $112.04 and its two-hundred day moving average is $108.90. The company has a market capitalization of $3.95 billion, a price-to-earnings ratio of 35.83 and a beta of 0.92. Nelnet has a 52 week low of $82.22 and a 52 week high of $127.32. The company has a current ratio of 31.47, a quick ratio of 31.47 and a debt-to-equity ratio of 2.78.

Insider Buying and Selling 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 stock was 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 of the company’s stock, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 50.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on NNI shares. StockNews.com cut Nelnet from a “buy” rating to a “hold” rating in a report on Monday, August 12th. TD Cowen boosted their price objective on Nelnet from $96.00 to $98.00 and gave the stock a “hold” rating in a research note on Monday, August 12th.

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.