Nelnet (NYSE:NNI) Director Thomas Edward Henning Sells 5,094 Shares

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 business's 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 completion of the sale, the director owned 11,058 shares of the company's stock, valued at $1,425,044.46. The trade was a 31.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible 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 Trading Down 1.8%

Shares of NNI traded down $2.34 during mid-day trading on Monday, hitting $126.48. 134,215 shares of the company's stock traded hands, compared to its average volume of 66,378. The company has a quick ratio of 29.41, a current ratio of 29.42 and a debt-to-equity ratio of 2.27. Nelnet, Inc. has a 1 year low of $98.15 and a 1 year high of $136.17. The firm has a market capitalization of $4.57 billion, a P/E ratio of 14.01 and a beta of 0.87. The business's 50-day moving average price is $124.83 and its 200-day moving average price is $116.69.

Nelnet (NYSE:NNI - Get Free Report) last posted its earnings results on Wednesday, August 6th. The credit services provider reported $5.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $3.14. Nelnet had a return on equity of 10.09% and a net margin of 14.86%.The firm had revenue of $540.61 million for the quarter, compared to analysts' expectations of $376.40 million. As a group, sell-side analysts forecast 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 Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be paid a $0.30 dividend. 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 annualized dividend and a yield of 0.9%. Nelnet's payout ratio is currently 13.29%.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Nelnet

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Nelnet by 13.9% in the first quarter. Vanguard Group Inc. now owns 1,535,569 shares of the credit services provider's stock worth $170,341,000 after acquiring an additional 187,813 shares in the last quarter. Farmers & Merchants Investments Inc. lifted its holdings in shares of Nelnet by 1.5% during the first quarter. Farmers & Merchants Investments Inc. now owns 1,204,798 shares of the credit services provider's stock valued at $133,648,000 after purchasing an additional 17,271 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Nelnet by 0.4% during the second quarter. Geode Capital Management LLC now owns 383,849 shares of the credit services provider's stock valued at $46,499,000 after purchasing an additional 1,443 shares in the last quarter. Sycale Advisors NY LLC lifted its holdings in shares of Nelnet by 26.7% during the fourth quarter. Sycale Advisors NY LLC now owns 258,038 shares of the credit services provider's stock valued at $27,561,000 after purchasing an additional 54,380 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Nelnet by 29.7% during the second quarter. JPMorgan Chase & Co. now owns 172,088 shares of the credit services provider's stock valued at $20,843,000 after purchasing an additional 39,417 shares in the last quarter. 33.51% of the stock is owned by institutional investors.

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.

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