Nelnet (NYSE:NNI) Reaches New 12-Month High at $115.66

Shares of Nelnet, Inc. (NYSE:NNI) reached a new 52-week high during trading on Wednesday . The stock traded as high as $115.66 and last traded at $115.49, with a volume of 28080 shares changing hands. The stock had previously closed at $113.87.

Analysts Set New Price Targets

NNI has been the subject of a number of recent research reports. StockNews.com cut shares of Nelnet from a “buy” rating to a “hold” rating in a research note on Monday, August 12th. TD Cowen raised their price target on Nelnet from $96.00 to $98.00 and gave the stock a “hold” rating in a research report on Monday, August 12th.

Nelnet Stock Performance

The company has a market capitalization of $4.12 billion, a PE ratio of 30.78 and a beta of 0.92. The company has a debt-to-equity ratio of 2.97, a quick ratio of 33.51 and a current ratio of 33.51. The stock’s fifty day simple moving average is $110.35 and its 200-day simple moving average is $102.09.

Nelnet (NYSE:NNI) last announced its earnings results on Thursday, August 8th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.13). The firm had revenue of $324.90 million for the quarter. Nelnet had a return on equity of 4.71% and a net margin of 7.44%. As a group, equities analysts predict that Nelnet, Inc. will post 5.9 earnings per share for the current year.

Nelnet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a $0.28 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.12 annualized dividend and a yield of 0.99%. Nelnet’s payout ratio is currently 30.27%.

Institutional Trading of Nelnet

Hedge funds have recently added to or reduced their stakes in the business. TFO Wealth Partners LLC increased its stake in shares of Nelnet by 49,900.0% during the 4th quarter. TFO Wealth Partners LLC now owns 500 shares of the credit services provider’s stock valued at $44,000 after acquiring an additional 499 shares during the last quarter. Covestor Ltd grew its holdings in Nelnet by 139.2% in the first quarter. Covestor Ltd now owns 806 shares of the credit services provider’s stock valued at $76,000 after purchasing an additional 469 shares during the period. SG Americas Securities LLC acquired a new position in Nelnet during the first quarter worth approximately $209,000. Security National Bank of Sioux City Iowa IA purchased a new position in Nelnet during the second quarter worth approximately $212,000. Finally, ProShare Advisors LLC acquired a new position in shares of Nelnet in the 1st quarter valued at $220,000. 33.51% of the stock is owned by institutional investors and hedge funds.

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.