Nelnet, Inc. (NNI) to Issue Quarterly Dividend of $0.28 on December 16th

Nelnet, Inc. (NYSE:NNI) announced a quarterly dividend on Thursday, November 7th,Wall Street Journal reports. Investors 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 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Monday, December 2nd.

Nelnet has raised its dividend 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. 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

Shares of Nelnet stock opened at $108.92 on Friday. Nelnet has a one year low of $82.22 and a one year high of $127.32. The company has a 50-day simple moving average of $112.04 and a two-hundred day simple moving average of $108.91. 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 company has a market capitalization of $3.95 billion, a PE ratio of 35.83 and a beta of 0.92.

Analyst Upgrades and Downgrades

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

Insider Activity

In other 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 transaction of $272,225.00. Following the sale, the insider now directly owns 9,354 shares of the company’s stock, valued at $1,018,557.06. This represents a 21.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 50.10% of the company’s stock.

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.