Nelnet (NYSE:NNI) Upgraded by StockNews.com to “Buy” Rating

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

Separately, TD Cowen upped their price objective on shares of Nelnet from $96.00 to $98.00 and gave the company a “hold” rating in a report on Monday, August 12th.

Nelnet Trading Up 0.6 %

NNI opened at $108.51 on Friday. Nelnet has a 1-year low of $82.22 and a 1-year high of $127.32. The firm has a 50-day moving average price of $111.72 and a two-hundred day moving average price of $108.88. The company has a current ratio of 31.47, a quick ratio of 31.47 and a debt-to-equity ratio of 2.78. The stock has a market capitalization of $3.94 billion, a PE ratio of 35.69 and a beta of 0.90.

Nelnet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.28 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.12 annualized dividend and a yield of 1.03%. Nelnet’s dividend payout ratio is 36.84%.

Insider Transactions at Nelnet

In related news, insider William J. Munn sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $108.89, for a total value of $272,225.00. Following the completion of the transaction, the insider now owns 9,354 shares in the company, valued at $1,018,557.06. This trade represents a 21.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 50.10% of the company’s stock.

Institutional Trading of Nelnet

Several hedge funds have recently bought and sold shares of NNI. Renaissance Technologies LLC bought a new position in Nelnet during the 2nd quarter valued at $4,660,000. Kingsview Wealth Management LLC purchased a new position in shares of Nelnet during the third quarter worth about $2,613,000. Barclays PLC lifted its position in Nelnet by 127.4% in the 3rd quarter. Barclays PLC now owns 28,996 shares of the credit services provider’s stock worth $3,285,000 after buying an additional 16,245 shares during the last quarter. Denali Advisors LLC lifted its position in Nelnet by 33.0% in the second quarter. Denali Advisors LLC now owns 64,510 shares of the credit services provider’s stock valued at $6,506,000 after purchasing an additional 16,000 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC bought a new position in shares of Nelnet during the third quarter valued at approximately $865,000. Institutional investors and hedge funds 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.