Nelnet, Inc. (NNI) to Issue Quarterly Dividend of $0.33 on March 13th

Nelnet, Inc. (NYSE:NNI) announced a quarterly dividend on Thursday, January 29th. Shareholders of record on Friday, February 27th will be paid a dividend of 0.33 per share by the credit services provider on Friday, March 13th. This represents a c) dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, February 27th.

Nelnet has raised its dividend by an average of 0.1%per year over the last three years. Nelnet has a dividend payout ratio of 15.5% 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 $1.32 annual dividend with an expected future payout ratio of 22.4%.

Nelnet Price Performance

Nelnet stock opened at $128.68 on Wednesday. The company has a current ratio of 28.98, a quick ratio of 28.98 and a debt-to-equity ratio of 2.18. The company has a 50-day moving average price of $133.30 and a 200 day moving average price of $130.23. Nelnet has a 12-month low of $98.15 and a 12-month high of $142.87. The stock has a market cap of $4.62 billion, a P/E ratio of 10.81 and a beta of 0.82.

Insider Activity at Nelnet

In other Nelnet news, Director Deun Jona M. Van sold 400 shares of the firm’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $128.95, for a total value of $51,580.00. Following the sale, the director directly owned 704 shares in the company, valued at $90,780.80. This trade represents a 36.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 50.90% of the company’s stock.

Institutional Trading of Nelnet

Institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC lifted its holdings in shares of Nelnet by 20.9% in the 1st quarter. AQR Capital Management LLC now owns 8,575 shares of the credit services provider’s stock valued at $951,000 after purchasing an additional 1,485 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Nelnet by 2.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,694 shares of the credit services provider’s stock worth $1,297,000 after acquiring an additional 299 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Nelnet by 1,246.0% in the 1st quarter. Jones Financial Companies Lllp now owns 3,365 shares of the credit services provider’s stock valued at $373,000 after acquiring an additional 3,115 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Nelnet by 7.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 58,415 shares of the credit services provider’s stock worth $6,480,000 after purchasing an additional 3,923 shares during the last quarter. Finally, Jane Street Group LLC grew its position in Nelnet by 583.3% during the 1st quarter. Jane Street Group LLC now owns 16,023 shares of the credit services provider’s stock worth $1,777,000 after purchasing an additional 13,678 shares during the last quarter. Hedge funds and other institutional investors own 33.51% of the company’s stock.

About Nelnet

Nelnet, Inc (NYSE: NNI) is a diversified education services company founded in 1978 and headquartered in Lincoln, Nebraska. Originally established as the National Education Loan Network by Michael S. Dunlap, the company has grown into a prominent provider of student loan servicing and education finance solutions in the United States.

At the core of Nelnet’s business is student loan servicing, where it administers and manages federal and private education loans on behalf of borrowers and lending partners.