Nelnet, Inc. (NYSE:NNI - Get Free Report)'s stock price was up 7.9% on Thursday . The company traded as high as $122.96 and last traded at $131.80. Approximately 45,419 shares traded hands during trading, a decline of 24% from the average daily volume of 59,615 shares. The stock had previously closed at $122.15.
Nelnet Price Performance
The stock has a market cap of $4.44 billion, a P/E ratio of 23.14 and a beta of 0.95. The company has a quick ratio of 34.08, a current ratio of 34.08 and a debt-to-equity ratio of 2.57. The business's 50-day simple moving average is $114.16 and its two-hundred day simple moving average is $111.29.
Nelnet (NYSE:NNI - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The credit services provider reported $2.39 EPS for the quarter, topping the consensus estimate of $1.92 by $0.47. Nelnet had a net margin of 9.44% and a return on equity of 6.00%. The company had revenue of $398.49 million during the quarter, compared to the consensus estimate of $393.00 million. Sell-side analysts expect that Nelnet, Inc. will post 4.52 EPS for the current year.
Nelnet Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.92%. The ex-dividend date was Monday, June 2nd. Nelnet's dividend payout ratio (DPR) is presently 21.17%.
Nelnet announced that its Board of Directors has initiated a share repurchase program on Thursday, May 8th that permits the company to repurchase 5,000,000 outstanding shares. This repurchase authorization permits the credit services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.
Hedge Funds Weigh In On Nelnet
Several hedge funds have recently bought and sold shares of the company. Intech Investment Management LLC boosted its holdings in Nelnet by 13.9% in the 1st quarter. Intech Investment Management LLC now owns 10,871 shares of the credit services provider's stock valued at $1,206,000 after purchasing an additional 1,324 shares during the period. Integrity Alliance LLC. purchased a new stake in shares of Nelnet in the first quarter worth $459,000. Jane Street Group LLC boosted its stake in Nelnet by 583.3% during the first quarter. Jane Street Group LLC now owns 16,023 shares of the credit services provider's stock valued at $1,777,000 after buying an additional 13,678 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Nelnet by 7.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 58,415 shares of the credit services provider's stock worth $6,480,000 after buying an additional 3,923 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its stake in Nelnet by 1,246.0% in the 1st quarter. Jones Financial Companies Lllp now owns 3,365 shares of the credit services provider's stock worth $373,000 after acquiring an additional 3,115 shares during the last quarter. Hedge funds and other institutional investors own 33.51% of the company's stock.
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.
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