Nelnet, Inc. (NNI) To Go Ex-Dividend on June 1st

Nelnet, Inc. (NYSE:NNI) announced a quarterly dividend on Wednesday, May 6th. Stockholders of record on Monday, June 1st will be given a dividend of 0.33 per share by the credit services provider on Monday, June 15th. This represents a c) dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, June 1st.

Nelnet has increased its dividend payment by an average of 0.1%annually over the last three years. Nelnet has a dividend payout ratio of 15.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Nelnet to earn $10.00 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 13.2%.

Nelnet Price Performance

NNI stock traded down $23.30 during midday trading on Friday, reaching $118.06. The company had a trading volume of 140,696 shares, compared to its average volume of 126,932. The company has a market capitalization of $4.24 billion, a price-to-earnings ratio of 10.12 and a beta of 0.83. The stock has a 50 day moving average price of $133.31 and a 200-day moving average price of $132.34. Nelnet has a 1-year low of $107.45 and a 1-year high of $144.38. The company has a debt-to-equity ratio of 2.18, a current ratio of 28.27 and a quick ratio of 28.27.

Nelnet (NYSE:NNI) last posted its quarterly earnings results on Thursday, May 7th. The credit services provider reported $1.94 EPS for the quarter, missing analysts’ consensus estimates of $2.66 by ($0.72). The company had revenue of $419.06 million during the quarter, compared to analyst estimates of $443.84 million. Nelnet had a net margin of 18.99% and a return on equity of 12.43%. Equities research analysts expect that Nelnet will post 9.2 earnings per share for the current year.

Institutional Trading of Nelnet

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wedge Capital Management L L P NC lifted its stake in shares of Nelnet by 0.9% in the fourth quarter. Wedge Capital Management L L P NC now owns 8,742 shares of the credit services provider’s stock worth $1,162,000 after acquiring an additional 81 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of Nelnet by 6.5% in the second quarter. Tower Research Capital LLC TRC now owns 1,353 shares of the credit services provider’s stock worth $164,000 after acquiring an additional 83 shares during the period. Captrust Financial Advisors lifted its stake in shares of Nelnet by 0.6% in the third quarter. Captrust Financial Advisors now owns 16,336 shares of the credit services provider’s stock worth $2,048,000 after acquiring an additional 94 shares during the period. Concurrent Investment Advisors LLC lifted its stake in shares of Nelnet by 5.1% in the third quarter. Concurrent Investment Advisors LLC now owns 2,050 shares of the credit services provider’s stock worth $257,000 after acquiring an additional 99 shares during the period. Finally, Alliancebernstein L.P. lifted its stake in shares of Nelnet by 0.6% in the third quarter. Alliancebernstein L.P. now owns 19,158 shares of the credit services provider’s stock worth $2,402,000 after acquiring an additional 121 shares during the period. 33.51% of the stock is currently owned by institutional investors.

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.