Nelnet (NYSE:NNI) Reaches New 1-Year High at $112.77

Nelnet, Inc. (NYSE:NNI)’s share price hit a new 52-week high on Thursday . The company traded as high as $112.77 and last traded at $112.77, with a volume of 7844 shares changing hands. The stock had previously closed at $111.23.

Analysts Set New Price Targets

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

Nelnet Price Performance

The company has a debt-to-equity ratio of 3.25, a current ratio of 48.33 and a quick ratio of 48.33. The business’s 50-day moving average price is $103.96 and its two-hundred day moving average price is $95.57. The firm has a market cap of $4.11 billion, a price-to-earnings ratio of 30.01 and a beta of 0.91.

Nelnet (NYSE:NNI) last released its earnings results on Thursday, May 9th. The credit services provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.44. The company had revenue of $579.96 million during the quarter. Nelnet had a net margin of 6.54% and a return on equity of 4.17%. During the same period in the previous year, the firm posted $1.47 EPS. On average, research analysts forecast that Nelnet, Inc. will post 6.1 EPS for the current fiscal year.

Nelnet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend was Friday, May 31st. Nelnet’s dividend payout ratio (DPR) is presently 30.27%.

Insiders Place Their Bets

In other Nelnet news, Director Kathleen Anne Farrell sold 1,700 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were 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 owns 16,894 shares in the company, valued at approximately $1,718,626.62. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 50.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. CWM LLC lifted 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 purchasing an additional 263 shares during the last quarter. TFO Wealth Partners LLC grew its holdings 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 acquiring an additional 499 shares during the last quarter. Covestor Ltd raised its position in shares of Nelnet by 139.2% during the first quarter. Covestor Ltd now owns 806 shares of the credit services provider’s stock worth $76,000 after purchasing an additional 469 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Nelnet during the first quarter valued at $209,000. 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 currently 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.