Key Points
- Director Deun Jona Van sold 400 shares on Dec. 9 at an average price of $128.95 for $51,580, cutting their stake by 36.23% to 704 shares.
- Strong quarterly results: Nelnet reported EPS of $2.95 (vs. $1.52 consensus) and revenue of $427.8M (vs. $372M), though analysts maintain a consensus Hold rating with an average target of $135.
- Dividend increased to $0.33 quarterly (from $0.30), implying an annualized $1.32 payout and ~1.0% yield; the ex-dividend date was Dec. 1 and the payment date is Dec. 15.
Nelnet, Inc. (NYSE:NNI - Get Free Report) Director Deun Jona Van sold 400 shares of the company's stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $128.95, for a total transaction of $51,580.00. Following the completion of the transaction, the director owned 704 shares of the company's stock, valued at $90,780.80. This trade represents a 36.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Nelnet Trading Up 1.3%
NNI opened at $132.83 on Friday. The stock has a market capitalization of $4.77 billion, a P/E ratio of 11.15 and a beta of 0.83. The company has a current ratio of 28.98, a quick ratio of 28.98 and a debt-to-equity ratio of 2.18. Nelnet, Inc. has a 12 month low of $98.15 and a 12 month high of $136.68. The firm's fifty day simple moving average is $129.55 and its 200 day simple moving average is $125.02.
Nelnet (NYSE:NNI - Get Free Report) last released its quarterly earnings results on Thursday, November 6th. The credit services provider reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $1.43. The firm had revenue of $427.76 million for the quarter, compared to the consensus estimate of $372.00 million. Nelnet had a return on equity of 12.58% and a net margin of 18.96%. As a group, research analysts anticipate that Nelnet, Inc. will post 4.52 EPS for the current fiscal year.
Nelnet Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a dividend of $0.33 per share. This is an increase from Nelnet's previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.32 dividend on an annualized basis and a yield of 1.0%. Nelnet's payout ratio is currently 11.09%.
Institutional Trading of Nelnet
A number of hedge funds have recently made changes to their positions in NNI. Tower Research Capital LLC TRC boosted its stake in shares of Nelnet by 6.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,353 shares of the credit services provider's stock worth $164,000 after acquiring an additional 83 shares during the period. Captrust Financial Advisors raised its stake in Nelnet by 0.6% in the 3rd quarter. Captrust Financial Advisors now owns 16,336 shares of the credit services provider's stock valued at $2,048,000 after acquiring an additional 94 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in Nelnet by 14.5% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 772 shares of the credit services provider's stock valued at $94,000 after purchasing an additional 98 shares during the last quarter. Concurrent Investment Advisors LLC boosted its position in Nelnet by 5.1% during the third quarter. Concurrent Investment Advisors LLC now owns 2,050 shares of the credit services provider's stock worth $257,000 after purchasing an additional 99 shares during the period. Finally, Alliancebernstein L.P. increased its holdings in shares of Nelnet by 0.6% in the third quarter. Alliancebernstein L.P. now owns 19,158 shares of the credit services provider's stock valued at $2,402,000 after purchasing an additional 121 shares during the last quarter. 33.51% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of analysts have recently commented on NNI shares. Weiss Ratings reissued a "hold (c+)" rating on shares of Nelnet in a research report on Wednesday, October 8th. TD Cowen lifted their target price on Nelnet from $130.00 to $135.00 and gave the company a "hold" rating in a research report on Monday, November 10th. Finally, Wall Street Zen cut Nelnet from a "strong-buy" rating to a "hold" rating in a research report on Saturday, November 15th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $135.00.
Read Our Latest Report on Nelnet
Nelnet Company Profile
(
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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.
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