Nelnet, Inc. to Issue Quarterly Dividend of $0.14 (NYSE:NNI)

Nelnet, Inc. (NYSE:NNI) announced a quarterly dividend on Tuesday, August 8th, Wall Street Journal reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Wednesday, August 30th.

Nelnet has raised its dividend payment by an average of 7.7% annually over the last three years.

Shares of Nelnet (NYSE:NNI) traded down 0.77% during trading on Friday, reaching $45.40. 179,888 shares of the company were exchanged. Nelnet has a one year low of $34.38 and a one year high of $55.01. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of 7.36 and a beta of 0.97. The company has a 50 day moving average price of $47.74 and a 200-day moving average price of $45.53.

Nelnet (NYSE:NNI) last posted its quarterly earnings results on Monday, August 7th. The credit services provider reported $1.08 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.08. Nelnet had a return on equity of 9.65% and a net margin of 20.19%. The business had revenue of $161.70 million for the quarter, compared to analyst estimates of $182.02 million. During the same period last year, the company earned $1.13 EPS. Equities analysts predict that Nelnet will post $4.50 EPS for the current year.

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Several research firms recently issued reports on NNI. TheStreet upgraded Nelnet from a “d+” rating to a “c” rating in a research report on Tuesday, August 8th. Compass Point cut Nelnet from a “buy” rating to a “neutral” rating and set a $52.00 price objective for the company. in a report on Wednesday, August 9th. Finally, BidaskClub upgraded Nelnet from a “sell” rating to a “hold” rating in a report on Friday, June 9th.

In other Nelnet news, major shareholder Angie Muhleisen sold 2,000 shares of the stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $47.57, for a total value of $95,140.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 45.40% of the company’s stock.

About Nelnet

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.

Dividend History for Nelnet (NYSE:NNI)

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