Nelnet (NYSE:NNI) Stock Price Passes Above 200 Day Moving Average of $87.80

Nelnet, Inc. (NYSE:NNI)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $87.80 and traded as high as $94.99. Nelnet shares last traded at $94.59, with a volume of 95,278 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Nelnet from a “buy” rating to a “hold” rating in a research report on Friday, April 5th.

Nelnet Trading Up 0.2 %

The company has a debt-to-equity ratio of 3.67, a current ratio of 35.15 and a quick ratio of 35.15. The business has a 50-day moving average of $90.22 and a 200-day moving average of $87.80. The firm has a market cap of $3.50 billion, a price-to-earnings ratio of 38.77 and a beta of 0.86.

Nelnet (NYSE:NNI) last posted its quarterly earnings results on Tuesday, February 27th. The credit services provider reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($1.19). Nelnet had a return on equity of 3.81% and a net margin of 4.43%. The business had revenue of $260.66 million for the quarter. Research analysts anticipate that Nelnet, Inc. will post 5.2 EPS for the current year.

Nelnet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date was Thursday, February 29th. Nelnet’s payout ratio is currently 45.90%.

Hedge Funds Weigh In On Nelnet

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Creative Planning grew its holdings in Nelnet by 4.3% during the fourth quarter. Creative Planning now owns 3,270 shares of the credit services provider’s stock worth $288,000 after purchasing an additional 136 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Nelnet by 3.4% during the fourth quarter. Principal Financial Group Inc. now owns 4,233 shares of the credit services provider’s stock worth $373,000 after acquiring an additional 141 shares during the period. California State Teachers Retirement System boosted its holdings in shares of Nelnet by 0.9% during the fourth quarter. California State Teachers Retirement System now owns 16,337 shares of the credit services provider’s stock worth $1,441,000 after acquiring an additional 147 shares during the period. Advisor Group Holdings Inc. boosted its holdings in shares of Nelnet by 30.2% during the fourth quarter. Advisor Group Holdings Inc. now owns 715 shares of the credit services provider’s stock worth $65,000 after acquiring an additional 166 shares during the period. Finally, Inspire Investing LLC boosted its holdings in shares of Nelnet by 6.0% during the third quarter. Inspire Investing LLC now owns 3,449 shares of the credit services provider’s stock worth $308,000 after acquiring an additional 194 shares during the period. Institutional investors own 33.51% of the company’s stock.

Nelnet Company Profile

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.