Nelnet (NYSE:NNI) Sets New 12-Month High at $114.00

Nelnet, Inc. (NYSE:NNI)’s share price hit a new 52-week high on Wednesday . The company traded as high as $114.00 and last traded at $114.00, with a volume of 3944 shares traded. The stock had previously closed at $113.28.

Analyst Ratings Changes

A number of brokerages have weighed in on NNI. StockNews.com upgraded shares of Nelnet from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. TD Cowen upped their price target on shares of Nelnet from $90.00 to $96.00 and gave the stock a “hold” rating in a research report on Tuesday, May 14th.

Nelnet Stock Performance

The company has a current ratio of 48.33, a quick ratio of 48.33 and a debt-to-equity ratio of 3.25. The firm’s 50-day moving average is $104.26 and its two-hundred day moving average is $96.48. The stock has a market cap of $4.10 billion, a price-to-earnings ratio of 30.62 and a beta of 0.91.

Nelnet (NYSE:NNI) last released its quarterly earnings results on Thursday, May 9th. The credit services provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.44. Nelnet had a net margin of 6.54% and a return on equity of 4.17%. The firm had revenue of $579.96 million during the quarter. During the same quarter last year, the company earned $1.47 EPS. As a group, sell-side analysts expect that Nelnet, Inc. will post 6.1 earnings per share for the current year.

Nelnet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.12 annualized dividend and a yield of 0.99%. Nelnet’s dividend payout ratio is presently 30.27%.

Insider Activity at Nelnet

In related news, Director Kathleen Anne Farrell sold 1,700 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $101.73, for a total transaction of $172,941.00. Following the completion of the sale, the director now owns 16,894 shares of the company’s stock, valued at approximately $1,718,626.62. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 50.10% of the stock is owned by corporate insiders.

Institutional Trading of Nelnet

Several hedge funds have recently made changes to their positions in the company. Lawson Kroeker Investment Management Inc. NE grew its stake in shares of Nelnet by 0.9% in the 2nd quarter. Lawson Kroeker Investment Management Inc. NE now owns 102,586 shares of the credit services provider’s stock valued at $10,347,000 after buying an additional 910 shares during the period. Legato Capital Management LLC boosted its position in shares of Nelnet by 30.8% during the 2nd quarter. Legato Capital Management LLC now owns 18,018 shares of the credit services provider’s stock worth $1,817,000 after purchasing an additional 4,241 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Nelnet by 1.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 118,046 shares of the credit services provider’s stock worth $11,906,000 after purchasing an additional 1,280 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Nelnet by 6.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,699 shares of the credit services provider’s stock worth $729,000 after purchasing an additional 497 shares during the period. Finally, CANADA LIFE ASSURANCE Co boosted its position in shares of Nelnet by 3.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 6,760 shares of the credit services provider’s stock worth $640,000 after purchasing an additional 222 shares during the period. Hedge funds and other institutional investors own 33.51% of the company’s stock.

Nelnet Company Profile

Nelnet, Inc engages in loan servicing, communications, education technology, services, and payment processing businesses worldwide. The Loan Servicing and Systems segment provides loan conversion, application processing, borrower updates, customer service, payment processing, due diligence procedures, funds management reconciliation, and claim processing services.