This study investigated the magnetic properties and frequency dispersion of complex permeability of Ni-Zn-Co ferrites used for magnetic shielding in near field communication (NFC) system. The sintered specimens of $(Ni_{0.7}Zn_{0.3})_{1-x}Co_xFe_2O_4$ composition were prepared by the conventional ceramic processing. The coercive force and saturation magnetization were measured by vibrating sample magnetometer. The complex permeability was measured by RF impedance analyzer in the range of 1 MHz~1.8 GHz. The coercive force increased and saturation magnetization decreased with increasing the Co substitution. The real and imaginary parts of complex permeability decreased and the resonance frequency increased with Co substitution, which was attributed to the increase in crystal anisotropy field and reduction in saturation magnetization. The effect of Co substitution could be found in reducing the magnetic loss to nearly zero at the operating frequency of NFC (13.56 MHz).