Nelnet (NYSE:NNI) Upgraded at StockNews.com

StockNews.com upgraded shares of Nelnet (NYSE:NNI) from a hold rating to a buy rating in a report released on Wednesday.

Nelnet Stock Performance

Shares of Nelnet stock opened at $111.44 on Wednesday. The company has a market capitalization of $4.04 billion, a PE ratio of 36.66 and a beta of 0.91. The company has a 50-day simple moving average of $108.14 and a two-hundred day simple moving average of $110.32. Nelnet has a one year low of $83.75 and a one year high of $127.32. The company has a debt-to-equity ratio of 2.78, a quick ratio of 31.47 and a current ratio of 31.47.

Nelnet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a $0.28 dividend. The ex-dividend date is Friday, February 28th. This represents a $1.12 annualized dividend and a yield of 1.01%. Nelnet’s dividend payout ratio (DPR) is 36.84%.

Hedge Funds Weigh In On Nelnet

A number of large investors have recently made changes to their positions in the business. FMR LLC grew its stake in Nelnet by 20.3% during the 3rd quarter. FMR LLC now owns 556 shares of the credit services provider’s stock worth $63,000 after buying an additional 94 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in Nelnet by 0.8% in the third quarter. D.A. Davidson & CO. now owns 17,536 shares of the credit services provider’s stock worth $1,987,000 after acquiring an additional 136 shares in the last quarter. MML Investors Services LLC grew its stake in shares of Nelnet by 7.4% during the third quarter. MML Investors Services LLC now owns 2,279 shares of the credit services provider’s stock worth $258,000 after acquiring an additional 157 shares during the last quarter. Inspire Investing LLC increased its holdings in shares of Nelnet by 5.0% during the third quarter. Inspire Investing LLC now owns 3,662 shares of the credit services provider’s stock valued at $415,000 after acquiring an additional 175 shares in the last quarter. Finally, Crawford Fund Management LLC raised its position in shares of Nelnet by 0.4% in the 3rd quarter. Crawford Fund Management LLC now owns 57,787 shares of the credit services provider’s stock valued at $6,546,000 after purchasing an additional 217 shares during the last quarter. 33.51% of the stock is owned by institutional investors and hedge funds.

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.