Nelnet (NYSE:NNI) Reaches New 12-Month High at $114.81

Nelnet, Inc. (NYSE:NNI) shares reached a new 52-week high on Thursday . The stock traded as high as $114.81 and last traded at $114.15, with a volume of 1821 shares traded. The stock had previously closed at $113.93.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on NNI shares. TD Cowen increased their price target on shares of Nelnet from $96.00 to $98.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. StockNews.com cut shares of Nelnet from a “buy” rating to a “hold” rating in a research note on Monday, August 12th.

Nelnet Trading Up 0.5 %

The stock’s 50 day moving average price is $107.78 and its 200-day moving average price is $99.97. 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 stock has a market capitalization of $4.20 billion, a PE ratio of 31.23 and a beta of 0.91.

Nelnet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be paid a $0.28 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.97%. Nelnet’s dividend payout ratio (DPR) is presently 30.27%.

Insider Transactions at Nelnet

In related news, Director Kathleen Anne Farrell sold 1,700 shares of the firm’s stock in a transaction on 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 transaction, the director now directly owns 16,894 shares of the company’s stock, valued at $1,718,626.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 50.10% of the company’s stock.

Hedge Funds Weigh In On Nelnet

Institutional investors have recently bought and sold shares of the stock. CWM LLC grew its stake in Nelnet by 176.5% during the fourth quarter. CWM LLC now owns 412 shares of the credit services provider’s stock valued at $36,000 after acquiring an additional 263 shares in the last quarter. TFO Wealth Partners LLC grew its stake in shares of Nelnet by 49,900.0% in the 4th quarter. TFO Wealth Partners LLC now owns 500 shares of the credit services provider’s stock worth $44,000 after buying an additional 499 shares in the last quarter. Covestor Ltd grew its stake in shares of Nelnet by 139.2% in 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 in the last quarter. Security National Bank of Sioux City Iowa IA purchased a new position in shares of Nelnet in the 2nd quarter worth $212,000. Finally, SG Americas Securities LLC purchased a new position in shares of Nelnet in the 1st quarter worth $209,000. 33.51% of the stock is owned by hedge funds and other institutional investors.

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.