Nelnet, Inc. (NNI) To Go Ex-Dividend on February 28th

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

Nelnet has raised its dividend payment by an average of 7.6% per year over the last three years. Nelnet has a dividend payout ratio of 17.5% meaning 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 0.8 %

NNI opened at $109.98 on Friday. The firm has a market cap of $3.99 billion, a price-to-earnings ratio of 36.18 and a beta of 0.91. Nelnet has a 52 week low of $83.75 and a 52 week high of $127.32. The business’s 50 day moving average is $107.78 and its two-hundred day moving average is $110.30. 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 released 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). Nelnet had a return on equity of 3.78% and a net margin of 5.54%. The firm had revenue of $477.80 million for the quarter. During the same quarter last year, the business posted $1.15 earnings per share. On average, research analysts predict that Nelnet will post 4.52 EPS for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Nelnet from a “hold” rating to a “buy” rating in a research note on Saturday, January 25th.

Insider Buying and Selling at Nelnet

In related news, insider William J. Munn sold 2,500 shares of Nelnet stock in a transaction that occurred 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 sale, the insider now directly owns 9,354 shares in the company, valued at $1,018,557.06. The trade was a 21.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company 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.