Nelnet (NYSE:NNI) Lifted to “Buy” at StockNews.com

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

Separately, Credit Suisse Group dropped their price objective on shares of Nelnet from $96.00 to $92.00 and set a neutral rating for the company in a research report on Wednesday, March 2nd.

NYSE NNI opened at $81.30 on Friday. The company has a current ratio of 72.67, a quick ratio of 57.43 and a debt-to-equity ratio of 5.43. The stock’s 50 day moving average is $84.09 and its two-hundred day moving average is $87.15. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of 6.83 and a beta of 0.72. Nelnet has a 1-year low of $72.00 and a 1-year high of $99.79.

Nelnet (NYSE:NNIGet Rating) last posted its earnings results on Monday, February 28th. The credit services provider reported $2.50 earnings per share (EPS) for the quarter. Nelnet had a net margin of 27.45% and a return on equity of 10.39%. The company had revenue of $394.49 million during the quarter.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Investors of record on Wednesday, June 1st will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend is Tuesday, May 31st. Nelnet’s dividend payout ratio (DPR) is presently 8.06%.

In related news, insider William J. Munn sold 500 shares of the business’s stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $81.21, for a total value of $40,605.00. Following the completion of the transaction, the insider now owns 21,271 shares in the company, valued at approximately $1,727,417.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 50.30% of the company’s stock.

Several institutional investors have recently modified their holdings of the business. Legal & General Group Plc raised its position in shares of Nelnet by 0.8% during the 4th quarter. Legal & General Group Plc now owns 16,428 shares of the credit services provider’s stock valued at $1,604,000 after acquiring an additional 132 shares during the last quarter. Royal Bank of Canada raised its position in shares of Nelnet by 1.9% during the 3rd quarter. Royal Bank of Canada now owns 8,679 shares of the credit services provider’s stock valued at $688,000 after acquiring an additional 159 shares during the last quarter. Ancora Advisors LLC raised its position in shares of Nelnet by 15.6% during the 1st quarter. Ancora Advisors LLC now owns 1,484 shares of the credit services provider’s stock valued at $108,000 after acquiring an additional 200 shares during the last quarter. KBC Group NV raised its position in shares of Nelnet by 25.1% during the 1st quarter. KBC Group NV now owns 1,156 shares of the credit services provider’s stock valued at $98,000 after acquiring an additional 232 shares during the last quarter. Finally, LPL Financial LLC raised its position in shares of Nelnet by 7.1% during the 3rd quarter. LPL Financial LLC now owns 3,773 shares of the credit services provider’s stock valued at $299,000 after acquiring an additional 250 shares during the last quarter.

Nelnet Company Profile (Get Rating)

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.

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