Nelnet, Inc. (NNI) Announces $0.14 Quarterly Dividend
Nelnet, Inc. (NYSE:NNI) announced a quarterly dividend on Tuesday, August 8th, Wall Street Journal reports. Investors of record on Friday, September 1st will be paid a dividend of 0.14 per share by the credit services provider on Friday, September 15th. This represents a $0.56 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Wednesday, August 30th.
Nelnet has increased its dividend payment by an average of 7.7% annually over the last three years.
Shares of Nelnet (NYSE:NNI) traded down 1.39% during mid-day trading on Tuesday, hitting $48.20. 97,941 shares of the company traded hands. The firm has a 50-day moving average of $47.31 and a 200-day moving average of $45.72. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of 7.91 and a beta of 0.97. Nelnet has a one year low of $33.91 and a one year high of $55.01.
Nelnet (NYSE:NNI) last posted its quarterly earnings results on Monday, August 7th. The credit services provider reported $1.08 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.08. The company had revenue of $161.70 million during the quarter, compared to analyst estimates of $182.02 million. Nelnet had a net margin of 20.47% and a return on equity of 10.03%. During the same quarter in the prior year, the business earned $1.13 earnings per share. On average, equities analysts predict that Nelnet will post $4.53 earnings per share for the current year.
Separately, BidaskClub lowered shares of Nelnet from a “buy” rating to a “hold” rating in a research report on Monday, July 24th.
In other Nelnet news, major shareholder Angie Muhleisen sold 2,000 shares of the stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $45.00, for a total transaction of $90,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 45.40% of the stock is owned by company insiders.
Nelnet Company Profile
Nelnet, Inc focuses on delivering education-related products and services and student loan asset management. The Company is engaged in student loan servicing, tuition payment processing and school information systems, and communications. The Company’s segments include Loan Systems and Servicing, Tuition Payment Processing and Campus Commerce, Communications, Asset Generation and Management, and Corporate and Other Activities.
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