Nelnet Inc. (NNI) Declares Quarterly Dividend of $0.14
Nelnet Inc. (NYSE:NNI) announced a quarterly dividend on Thursday, November 10th. Stockholders of record on Thursday, December 1st will be paid a dividend of 0.14 per share on Thursday, December 15th. This represents a $0.56 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Tuesday, November 29th. This is a positive change from Nelnet’s previous quarterly dividend of $0.12.
Shares of Nelnet (NYSE:NNI) opened at 46.22 on Friday. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of 9.83 and a beta of 0.91. Nelnet has a 12 month low of $27.80 and a 12 month high of $46.92. The stock’s 50 day moving average price is $39.54 and its 200 day moving average price is $37.47.
Nelnet (NYSE:NNI) last released its earnings results on Wednesday, November 9th. The company reported $1.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.23. Nelnet had a return on equity of 12.39% and a net margin of 18.26%. During the same period last year, the company earned $1.43 earnings per share. Equities research analysts predict that Nelnet will post $4.65 earnings per share for the current fiscal year.
In other Nelnet news, insider William J. Munn sold 1,000 shares of the company’s stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $39.00, for a total transaction of $39,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 45.40% of the company’s stock.
A number of large investors have recently made changes to their positions in NNI. Vanguard Group Inc. raised its stake in shares of Nelnet by 4.7% in the second quarter. Vanguard Group Inc. now owns 1,953,756 shares of the company’s stock valued at $67,893,000 after buying an additional 87,977 shares in the last quarter. BlackRock Fund Advisors increased its stake in shares of Nelnet by 8.0% in the third quarter. BlackRock Fund Advisors now owns 532,281 shares of the company’s stock valued at $21,488,000 after buying an additional 39,589 shares during the last quarter. Highbridge Capital Management LLC bought a new stake in shares of Nelnet during the second quarter valued at $682,000. Spark Investment Management LLC increased its stake in shares of Nelnet by 98.8% in the second quarter. Spark Investment Management LLC now owns 32,600 shares of the company’s stock valued at $1,132,000 after buying an additional 16,200 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its stake in shares of Nelnet by 8.7% in the second quarter. Parametric Portfolio Associates LLC now owns 121,643 shares of the company’s stock valued at $4,227,000 after buying an additional 9,699 shares during the last quarter. Institutional investors own 40.72% of the company’s stock.
NNI has been the subject of several research analyst reports. Compass Point dropped their price target on Nelnet from $50.00 to $47.00 and set a “buy” rating for the company in a research note on Monday, August 8th. Credit Suisse Group AG restated a “buy” rating and set a $45.00 price target on shares of Nelnet in a research note on Friday, November 4th.
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