Nelnet, Inc. (NYSE:NNI) declared a quarterly dividend on Friday, November 9th, Wall Street Journal reports. Investors of record on Friday, November 30th will be given a dividend of 0.18 per share by the credit services provider on Friday, December 14th. This represents a $0.72 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Thursday, November 29th. This is an increase from Nelnet’s previous quarterly dividend of $0.16.
Nelnet has raised its dividend payment by an average of 13.2% per year over the last three years and has raised its dividend annually for the last 2 consecutive years.
NYSE:NNI opened at $51.40 on Friday. The company has a debt-to-equity ratio of 9.83, a quick ratio of 112.77 and a current ratio of 112.77. Nelnet has a one year low of $48.30 and a one year high of $64.00. The stock has a market capitalization of $2.29 billion, a P/E ratio of 11.03 and a beta of 0.70.
Nelnet (NYSE:NNI) last released its quarterly earnings results on Thursday, November 8th. The credit services provider reported $1.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.26 by ($0.12). Nelnet had a return on equity of 9.45% and a net margin of 17.02%. The business had revenue of $276.35 million during the quarter. During the same quarter last year, the business posted $1.00 EPS.
Separately, ValuEngine cut Nelnet from a “buy” rating to a “hold” rating in a research note on Thursday, July 26th.
In other Nelnet news, major shareholder Angie Muhleisen sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 19th. The stock was sold at an average price of $58.22, for a total transaction of $58,220.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold 3,000 shares of company stock worth $171,060 in the last 90 days. 46.10% of the stock is currently owned by insiders.
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Nelnet, Inc provides education related products and services, and loan asset management services worldwide. The company's Loan Systems and Servicing segment is involved in loan servicing activities, such as loan conversion, application processing, borrower updates, customer service, payment processing, due diligence procedures, funds management reconciliation, and claim processing activities for student loan portfolio and third-party clients.
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