StockNews.com Upgrades Nelnet (NYSE:NNI) to Buy

StockNews.com upgraded shares of Nelnet (NYSE:NNI) from a hold rating to a buy rating in a research report released on Friday.

Separately, TD Cowen increased their price target on Nelnet from $96.00 to $98.00 and gave the stock a “hold” rating in a research note on Monday, August 12th.

Nelnet Price Performance

Shares of NNI opened at $108.52 on Friday. The company has a market cap of $3.94 billion, a P/E ratio of 35.70 and a beta of 0.90. The stock has a fifty day moving average price of $111.72 and a 200 day moving average price of $108.90. The company has a debt-to-equity ratio of 2.78, a current ratio of 31.47 and a quick ratio of 31.47. Nelnet has a 12 month low of $82.22 and a 12 month high of $127.32.

Nelnet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.28 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.12 annualized dividend and a dividend yield of 1.03%. Nelnet’s payout ratio is 36.84%.

Insider Activity

In other news, insider William J. Munn sold 2,500 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $108.89, for a total value of $272,225.00. Following the completion of the sale, the insider now owns 9,354 shares in the company, valued at $1,018,557.06. This represents a 21.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 50.10% of the company’s stock.

Institutional Investors Weigh In On Nelnet

Several hedge funds have recently modified their holdings of NNI. FMR LLC lifted its holdings in shares of Nelnet by 20.3% during the third quarter. FMR LLC now owns 556 shares of the credit services provider’s stock valued at $63,000 after purchasing an additional 94 shares during the last quarter. Security National Bank of Sioux City Iowa IA purchased a new stake in shares of Nelnet during the second quarter valued at $212,000. Quest Partners LLC lifted its holdings in shares of Nelnet by 34,283.3% during the third quarter. Quest Partners LLC now owns 2,063 shares of the credit services provider’s stock valued at $234,000 after purchasing an additional 2,057 shares during the last quarter. MML Investors Services LLC lifted its holdings in shares of Nelnet by 7.4% during the third quarter. MML Investors Services LLC now owns 2,279 shares of the credit services provider’s stock valued at $258,000 after purchasing an additional 157 shares during the last quarter. Finally, Landscape Capital Management L.L.C. purchased a new stake in shares of Nelnet during the third quarter valued at $288,000. 33.51% of the stock is 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.