Nelnet (NYSE:NNI) Shares Pass Above 200 Day Moving Average of $93.17

Nelnet, Inc. (NYSE:NNI)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $93.17 and traded as high as $101.45. Nelnet shares last traded at $100.82, with a volume of 342,155 shares traded.

Analyst Ratings Changes

A number of equities research analysts recently commented on NNI shares. StockNews.com raised shares of Nelnet from a “hold” rating to a “buy” rating in a research note on Monday, May 13th. TD Cowen increased their price target on shares of Nelnet from $90.00 to $96.00 and gave the company a “hold” rating in a research report on Tuesday, May 14th.

Nelnet Stock Performance

The company has a quick ratio of 48.33, a current ratio of 48.33 and a debt-to-equity ratio of 3.25. The company has a market capitalization of $3.67 billion, a price-to-earnings ratio of 27.26 and a beta of 0.89. The stock has a fifty day moving average price of $101.21 and a two-hundred day moving average price of $93.22.

Nelnet (NYSE:NNI) last announced its earnings results on Thursday, May 9th. The credit services provider reported $1.81 earnings per share for the quarter, beating 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 period in the previous year, the firm posted $1.47 EPS. As a group, analysts forecast that Nelnet, Inc. will post 6 EPS for the current fiscal year.

Nelnet Dividend Announcement

The company 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. This represents a $1.12 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend was Friday, May 31st. Nelnet’s payout ratio is 30.27%.

Insiders Place Their Bets

In other Nelnet news, Director Kathleen Anne Farrell sold 1,700 shares of the business’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $101.73, for a total value of $172,941.00. Following the completion of the transaction, the director now directly owns 16,894 shares in the company, valued at approximately $1,718,626.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 50.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its position in Nelnet by 6.9% during the first 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 last quarter. CANADA LIFE ASSURANCE Co grew its stake 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 valued at $640,000 after buying an additional 222 shares during the period. Covestor Ltd increased its holdings in shares of Nelnet by 139.2% during the 1st quarter. Covestor Ltd now owns 806 shares of the credit services provider’s stock worth $76,000 after buying an additional 469 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Nelnet by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 1,313,570 shares of the credit services provider’s stock worth $124,329,000 after buying an additional 3,485 shares during the last quarter. Finally, ProShare Advisors LLC purchased a new position in shares of Nelnet in the 1st quarter worth $220,000. 33.51% of the stock is currently owned by hedge funds and other institutional investors.

About Nelnet

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.