Nelnet Stock Price, News & Analysis

On April 5, 2022, Nelnet Bank launched its new Private Student Loans aimed at providing flexible financing options for students. These loans are designed to assist borrowers facing funding gaps after utilizing federal loans. The offerings include competitive fixed and variable interest rates, an auto-debit discount, cosigner release, and no upfront fees. Leveraging Nelnet's 40+ years of experience in student lending, the bank aims to support families in achieving educational goals.

On March 17, 2022, Nelnet (NYSE: NNI) announced an expansion of its board to 10 members, adding Jona Van Deun, Adam Peterson, and Matthew Dunlap. Each new member brings unique expertise: Van Deun in public affairs, Peterson in finance and management, and Dunlap in business development. This change follows the retirement of Jim Abel, who served since 2003. The company plans to recommend Peterson for election at the 2022 annual meeting on May 19. Further details will be in the definitive proxy materials to be filed in April 2022.

Nelnet reported GAAP net income of $132.7 million or $3.46 per share for Q4 2021, down from $235.0 million or $6.10 per share in Q4 2020. Excluding market adjustments, net income was $95.9 million or $2.50 per share, compared to $240.4 million or $6.23 per share a year prior. Despite challenges, the company is optimistic about its operations and investments. The AGM segment saw net income increase to $108.7 million, while Loan Servicing revenue rose to $150.4 million. GAAP net income for 2021 was $393.3 million, up from $352.4 million in 2020.

Protocol Labs and Nelnet have launched a $38 million Filecoin NNI Renewable Energy Fund aimed at solar energy investments across the U.S. This initiative supports Protocol Labs' goal of achieving net-zero emissions by financing solar developments, which is expected to generate 50 Megawatts of new solar capacity valued at approximately $130 million. The partnership enhances the electric grid by contributing more energy than consumed by the Filecoin network, facilitating its growth without straining the power infrastructure.

Nelnet, Inc. (NYSE: NNI) has declared a cash dividend of $0.24 per share for the first quarter on both Class A and Class B common stock. This dividend is set to be paid on March 15, 2022, to shareholders recorded by the close of business on March 1, 2022. This distribution reflects the company's ongoing commitment to returning value to its shareholders.

Nelnet, Inc. (NYSE: NNI) will announce its earnings for the fourth quarter and year ended December 31, 2021, after the market close on February 28, 2022. This announcement will provide shareholders with vital financial data and insights into the company’s performance during the past year. Further information regarding the earnings release will be accessible on the company’s investor website.

Nelnet (NNI) reported a GAAP net income of $53.1 million or $1.38 per share for Q3 2021, down from $71.5 million or $1.86 per share in Q3 2020. Excluding adjustments, net income was $47.6 million, a decline from $68.9 million. The Q3 results included a $14.2 million impairment of real estate assets. The AGM segment saw net interest income rise to $83.1 million, while the Loan Servicing segment reported a $2.3 million net loss. Nelnet Bank's loan portfolio reached $192.3 million. A fourth quarter dividend of $0.24 per share was declared.

Nelnet Renewable Energy has announced a partnership with Northern Rivers Family of Services to support community solar initiatives in upstate New York. This collaboration allows Northern Rivers to access clean energy while reducing their utility costs by up to 10%. The initiative aims to promote sustainability and educate staff and clients about the benefits of community solar. With a commitment to empowering communities, Northern Rivers seeks to leverage this partnership to enhance its programs and foster environmental awareness among the youth.