Nelnet, Inc. (NYSE:NNI - Get Free Report) shares hit a new 52-week high during trading on Monday . The stock traded as high as $136.17 and last traded at $127.24, with a volume of 18272 shares traded. The stock had previously closed at $128.81.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen upgraded shares of Nelnet from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 9th.
Check Out Our Latest Analysis on NNI
Nelnet Price Performance
The company has a market capitalization of $4.60 billion, a P/E ratio of 14.07 and a beta of 0.87. The company's 50-day moving average price is $124.83 and its two-hundred day moving average price is $116.69. The company has a debt-to-equity ratio of 2.27, a current ratio of 29.42 and a quick ratio of 29.41.
Nelnet (NYSE:NNI - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The credit services provider reported $5.05 EPS for the quarter, topping analysts' consensus estimates of $1.91 by $3.14. Nelnet had a net margin of 14.86% and a return on equity of 10.09%. The business had revenue of $540.61 million for the quarter, compared to analyst estimates of $376.40 million. As a group, sell-side analysts expect that Nelnet, Inc. will post 4.52 EPS for the current year.
Nelnet Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be issued a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.20 annualized dividend and a yield of 0.9%. This is an increase from Nelnet's previous quarterly dividend of $0.28. Nelnet's payout ratio is 13.29%.
Insider Buying and Selling
In other Nelnet news, major shareholder Shelby J. Butterfield sold 41,929 shares of the firm's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $119.25, for a total value of $5,000,033.25. Following the transaction, the insider directly owned 510 shares of the company's stock, valued at $60,817.50. This trade represents a 98.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 50.90% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Nelnet
Several hedge funds have recently bought and sold shares of NNI. Ameritas Advisory Services LLC bought a new position in Nelnet in the 2nd quarter valued at about $29,000. KBC Group NV acquired a new stake in shares of Nelnet in the 1st quarter valued at approximately $32,000. Financial Management Professionals Inc. acquired a new stake in shares of Nelnet in the 2nd quarter valued at approximately $32,000. Maseco LLP acquired a new stake in shares of Nelnet in the 2nd quarter valued at approximately $45,000. Finally, Osaic Holdings Inc. boosted its stake in shares of Nelnet by 170.3% in the 2nd quarter. Osaic Holdings Inc. now owns 373 shares of the credit services provider's stock valued at $45,000 after purchasing an additional 235 shares in the last quarter. 33.51% of the stock is owned by institutional investors.
About Nelnet
(
Get Free Report)
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.
Further Reading
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