Nelnet (NYSE:NNI) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Nelnet (NYSE:NNI) from a buy rating to a hold rating in a report issued on Tuesday.

Nelnet Stock Performance

Shares of NYSE:NNI opened at $106.35 on Tuesday. Nelnet has a 1 year low of $82.22 and a 1 year high of $127.32. The stock has a market capitalization of $3.86 billion, a price-to-earnings ratio of 34.98 and a beta of 0.90. The company has a debt-to-equity ratio of 2.78, a current ratio of 31.47 and a quick ratio of 31.47. The company’s 50 day simple moving average is $110.65 and its 200 day simple moving average is $109.15.

Nelnet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $0.28 per share. The ex-dividend date was Monday, December 2nd. This represents a $1.12 annualized dividend and a dividend yield of 1.05%. Nelnet’s dividend payout ratio is currently 36.84%.

Insider Activity at Nelnet

In other Nelnet news, insider William J. Munn sold 2,500 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $108.89, for a total transaction of $272,225.00. Following the completion of the transaction, the insider now owns 9,354 shares of the company’s stock, valued at approximately $1,018,557.06. The trade was a 21.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 50.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Nelnet

Hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC lifted its stake in Nelnet by 20.3% in the 3rd 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. Quest Partners LLC lifted its stake in shares of Nelnet by 34,283.3% in the 3rd quarter. Quest Partners LLC now owns 2,063 shares of the credit services provider’s stock valued at $234,000 after acquiring an additional 2,057 shares during the last quarter. Security National Bank of Sioux City Iowa IA acquired a new stake in shares of Nelnet during the 2nd quarter valued at $212,000. MML Investors Services LLC boosted its holdings in shares of Nelnet by 7.4% during the 3rd quarter. MML Investors Services LLC now owns 2,279 shares of the credit services provider’s stock valued at $258,000 after acquiring an additional 157 shares in the last quarter. Finally, Landscape Capital Management L.L.C. bought a new stake in Nelnet during the 3rd quarter worth $288,000. 33.51% of the stock is owned by 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.