Nelnet (NYSE:NNI) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Nelnet, Inc. (NYSE:NNI) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $128.92 and traded as high as $132.00. Nelnet shares last traded at $130.9890, with a volume of 103,833 shares trading hands.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Nelnet in a report on Wednesday, October 8th. Zacks Research upgraded Nelnet from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 12th. TD Cowen reissued a “hold” rating on shares of Nelnet in a research note on Thursday, January 8th. Finally, Wall Street Zen cut Nelnet from a “strong-buy” rating to a “hold” rating in a research note on Saturday, November 15th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Nelnet presently has an average rating of “Moderate Buy” and an average price target of $140.00.

Nelnet Trading Down 1.0%

The company has a fifty day simple moving average of $132.77 and a 200-day simple moving average of $128.92. The company has a current ratio of 28.98, a quick ratio of 28.98 and a debt-to-equity ratio of 2.18. The stock has a market cap of $4.71 billion, a price-to-earnings ratio of 11.01 and a beta of 0.83.

Nelnet (NYSE:NNI) last announced its earnings results on Thursday, November 6th. The credit services provider reported $2.95 EPS for the quarter, topping the consensus estimate of $1.52 by $1.43. Nelnet had a net margin of 18.96% and a return on equity of 12.58%. The company had revenue of $427.76 million during the quarter, compared to analysts’ expectations of $372.00 million. On average, research analysts forecast that Nelnet, Inc. will post 4.52 earnings per share for the current fiscal year.

Nelnet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were issued a dividend of $0.33 per share. The ex-dividend date was Monday, December 1st. This represents a $1.32 annualized dividend and a dividend yield of 1.0%. This is a positive change from Nelnet’s previous quarterly dividend of $0.30. Nelnet’s dividend payout ratio is presently 11.09%.

Insider Activity at Nelnet

In related news, Director Deun Jona M. Van sold 400 shares of the stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $128.95, for a total value of $51,580.00. Following the transaction, the director owned 704 shares in the company, valued at approximately $90,780.80. This represents a 36.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 50.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NNI. Ameritas Advisory Services LLC bought a new stake in Nelnet during the second quarter worth approximately $29,000. Smartleaf Asset Management LLC lifted its stake in shares of Nelnet by 189.8% in the third quarter. Smartleaf Asset Management LLC now owns 368 shares of the credit services provider’s stock worth $46,000 after buying an additional 241 shares during the last quarter. Osaic Holdings Inc. boosted its holdings in shares of Nelnet by 170.3% during the 2nd quarter. Osaic Holdings Inc. now owns 373 shares of the credit services provider’s stock worth $45,000 after buying an additional 235 shares during the period. State of Wyoming acquired a new position in Nelnet in the 2nd quarter valued at $62,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Nelnet by 137.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 541 shares of the credit services provider’s stock worth $66,000 after acquiring an additional 313 shares during the period. 33.51% of the stock is owned by institutional investors.

Nelnet Company Profile

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.