Nelnet (NYSE:NNI) Reaches New 52-Week High on Analyst Upgrade

Shares of Nelnet, Inc. (NYSE:NNI) hit a new 52-week high during mid-day trading on Thursday after TD Cowen raised their price target on the stock from $135.00 to $140.00. TD Cowen currently has a hold rating on the stock. Nelnet traded as high as $141.41 and last traded at $140.8250, with a volume of 64511 shares trading hands. The stock had previously closed at $135.10.

Several other analysts also recently issued reports on NNI. Weiss Ratings reissued a “hold (c+)” rating on shares of Nelnet in a research note on Wednesday, October 8th. Cowen reaffirmed a “hold” rating on shares of Nelnet in a report on Thursday. Finally, Wall Street Zen cut shares of Nelnet from a “strong-buy” rating to a “hold” rating in a research report on Saturday, November 15th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $140.00.

Insider Activity at Nelnet

In related news, Director Deun Jona M. Van sold 400 shares of the firm’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $128.95, for a total value of $51,580.00. Following the completion of the transaction, the director directly owned 704 shares of the company’s stock, valued at approximately $90,780.80. This trade represents a 36.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 50.90% of the company’s stock.

Hedge Funds Weigh In On Nelnet

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Ameritas Advisory Services LLC purchased a new stake in shares of Nelnet during the 2nd quarter valued at about $29,000. Financial Management Professionals Inc. bought a new stake in Nelnet during the second quarter worth approximately $32,000. Maseco LLP purchased a new stake in Nelnet during the second quarter valued at approximately $45,000. Osaic Holdings Inc. raised its position in Nelnet by 170.3% during the second quarter. Osaic Holdings Inc. now owns 373 shares of the credit services provider’s stock valued at $45,000 after purchasing an additional 235 shares during the period. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Nelnet by 189.8% in the 3rd quarter. Smartleaf Asset Management LLC now owns 368 shares of the credit services provider’s stock valued at $46,000 after purchasing an additional 241 shares during the last quarter. 33.51% of the stock is owned by hedge funds and other institutional investors.

Nelnet Trading Up 4.5%

The stock has a market cap of $5.07 billion, a PE ratio of 11.86 and a beta of 0.83. The company has a debt-to-equity ratio of 2.18, a quick ratio of 28.98 and a current ratio of 28.98. The stock has a fifty day moving average price of $131.88 and a 200 day moving average price of $127.90.

Nelnet (NYSE:NNI) last released its quarterly earnings results on Thursday, November 6th. The credit services provider reported $2.95 earnings per share for the quarter, beating the consensus estimate of $1.52 by $1.43. The company had revenue of $427.76 million for the quarter, compared to analyst estimates of $372.00 million. Nelnet had a return on equity of 12.58% and a net margin of 18.96%. Equities analysts expect that Nelnet, Inc. will post 4.52 EPS for the current year.

Nelnet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were issued a $0.33 dividend. This is a boost from Nelnet’s previous quarterly dividend of $0.30. The ex-dividend date was Monday, December 1st. This represents a $1.32 annualized dividend and a dividend yield of 0.9%. Nelnet’s dividend payout ratio (DPR) is 11.09%.

About Nelnet

Nelnet, Inc (NYSE: NNI) is a diversified education services company founded in 1978 and headquartered in Lincoln, Nebraska. Originally established as the National Education Loan Network by Michael S. Dunlap, the company has grown into a prominent provider of student loan servicing and education finance solutions in the United States.

At the core of Nelnet’s business is student loan servicing, where it administers and manages federal and private education loans on behalf of borrowers and lending partners.