Nelnet (NYSE:NNI) Trading Down 2.3%

Nelnet, Inc. (NYSE:NNI - Get Free Report)'s stock price fell 2.3% during trading on Monday . The stock traded as low as $106.04 and last traded at $106.64. 14,298 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 88,810 shares. The stock had previously closed at $109.19.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Nelnet from a "hold" rating to a "buy" rating in a report on Monday.

Nelnet Stock Performance

The company has a debt-to-equity ratio of 3.67, a current ratio of 35.15 and a quick ratio of 35.15. The company has a market cap of $3.82 billion, a price-to-earnings ratio of 27.91 and a beta of 0.84. The stock has a 50-day moving average price of $93.39 and a 200 day moving average price of $89.08.

Nelnet (NYSE:NNI - Get Free Report) last posted its earnings results on Thursday, May 9th. The credit services provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.37 by $0.44. Nelnet had a return on equity of 4.18% and a net margin of 6.54%. The business had revenue of $579.96 million during the quarter. During the same period in the previous year, the company posted $1.47 earnings per share. As a group, analysts anticipate that Nelnet, Inc. will post 5.15 EPS for the current fiscal year.

Nelnet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be given a $0.28 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.12 annualized dividend and a yield of 1.08%. Nelnet's dividend payout ratio is currently 30.27%.

Hedge Funds Weigh In On Nelnet

Large investors have recently added to or reduced their stakes in the company. Covestor Ltd boosted its position in Nelnet by 139.2% during the 1st quarter. Covestor Ltd now owns 806 shares of the credit services provider's stock worth $76,000 after acquiring an additional 469 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Nelnet by 0.3% during the first quarter. Vanguard Group Inc. now owns 1,313,570 shares of the credit services provider's stock worth $124,329,000 after purchasing an additional 3,485 shares during the last quarter. ProShare Advisors LLC acquired a new position in Nelnet during the first quarter worth $220,000. Anchor Capital Advisors LLC increased its stake in Nelnet by 3.1% in the 1st quarter. Anchor Capital Advisors LLC now owns 12,931 shares of the credit services provider's stock valued at $1,224,000 after buying an additional 383 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Nelnet in the 1st quarter valued at $209,000. Institutional investors own 33.51% of the company's stock.

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.