Nelnet (NYSE:NNI) Director Sells $656,463.78 in Stock

Key Points

• Nelnet Director Thomas Edward Henning sold 5,094 shares at an average price of $128.87, totaling approximately $656,463.78, marking a 31.54% decrease in his position.
• The company recently declared a quarterly dividend of $0.30, up from $0.28, with an annualized yield of 0.9%.
• Nelnet reported strong earnings with $5.05 earnings per share for the quarter, significantly beating expectations of $1.91, and increased its stock rating from "hold" to "strong-buy."

Nelnet, Inc. (NYSE:NNI - Get Free Report) Director Thomas Edward Henning sold 5,094 shares of the stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $128.87, for a total value of $656,463.78. Following the sale, the director directly owned 11,058 shares of the company's stock, valued at $1,425,044.46. The trade was a 31.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Thomas Edward Henning also recently made the following trade(s):

• On Friday, September 5th, Thomas Edward Henning sold 3,102 shares of Nelnet stock. The shares were sold at an average price of $128.87, for a total value of $399,754.74.

Nelnet Stock Performance

Shares of NNI traded down $1.50 on Friday, reaching $123.27. 50,375 shares of the company's stock traded hands, compared to its average volume of 68,169. The company has a current ratio of 29.42, a quick ratio of 29.41 and a debt-to-equity ratio of 2.27. The stock has a market cap of $4.46 billion, a PE ratio of 13.65 and a beta of 0.87. The stock's 50 day simple moving average is $125.09 and its two-hundred day simple moving average is $117.05. Nelnet, Inc. has a 52-week low of $98.15 and a 52-week high of $136.17.

Nelnet (NYSE:NNI - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The credit services provider reported $5.05 EPS for the quarter, beating analysts' consensus estimates of $1.91 by $3.14. The company had revenue of $540.61 million during the quarter, compared to the consensus estimate of $376.40 million. Nelnet had a return on equity of 10.09% and a net margin of 14.86%. On average, analysts forecast that Nelnet, Inc. will post 4.52 earnings per share for the current fiscal year.

Nelnet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a positive change from Nelnet's previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.0%. Nelnet's dividend payout ratio (DPR) is 13.29%.

Institutional Trading of Nelnet

Large investors have recently bought and sold shares of the company. Ameritas Advisory Services LLC purchased a new stake in Nelnet in the second quarter worth $29,000. KBC Group NV purchased a new stake in Nelnet in the first quarter worth $32,000. Financial Management Professionals Inc. purchased a new stake in Nelnet in the second quarter worth $32,000. Maseco LLP bought a new position in shares of Nelnet in the second quarter worth $45,000. Finally, Osaic Holdings Inc. boosted its holdings in shares of Nelnet by 170.3% in the second quarter. Osaic Holdings Inc. now owns 373 shares of the credit services provider's stock worth $45,000 after acquiring an additional 235 shares during the period. 33.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen raised Nelnet from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 9th.

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.