Nelnet, Inc. (NNI) Receives Consensus Rating of “Strong Buy” from Brokerages
Nelnet, Inc. (NYSE:NNI) has been given a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation. Nelnet’s rating score has improved by 66.7% in the last 90 days as a result of various analysts’ ratings changes.
Zacks has also assigned Nelnet an industry rank of 186 out of 265 based on the ratings given to related companies.
Several equities research analysts have recently weighed in on NNI shares. Compass Point raised shares of Nelnet from a “neutral” rating to a “buy” rating in a report on Thursday, October 19th. Credit Suisse Group upped their target price on shares of Nelnet from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Friday, October 20th.
Shares of Nelnet (NNI) traded up $1.07 during trading on Friday, reaching $55.00. 55,151 shares of the company’s stock traded hands, compared to its average volume of 91,541. The company has a market cap of $2,280.00, a price-to-earnings ratio of 10.48 and a beta of 1.04. The company has a debt-to-equity ratio of 10.44, a current ratio of 159.08 and a quick ratio of 159.08. Nelnet has a 12-month low of $38.72 and a 12-month high of $59.68.
Nelnet (NYSE:NNI) last posted its earnings results on Tuesday, November 7th. The credit services provider reported $1.00 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.10 by ($0.10). Nelnet had a return on equity of 8.70% and a net margin of 17.51%. The firm had revenue of $194.43 million during the quarter, compared to the consensus estimate of $191.00 million. During the same period in the previous year, the company posted $1.36 EPS. The firm’s revenue for the quarter was down 18.6% compared to the same quarter last year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were given a dividend of $0.16 per share. This is an increase from Nelnet’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $0.64 annualized dividend and a yield of 1.16%. Nelnet’s dividend payout ratio is 12.19%.
In other Nelnet news, major shareholder Angie Muhleisen sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $57.54, for a total value of $115,080.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider William J. Munn sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $50.00, for a total value of $50,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 13,748 shares of company stock valued at $724,308 in the last ninety days. Insiders own 46.10% of the company’s stock.
A number of institutional investors have recently made changes to their positions in NNI. Public Employees Retirement System of Ohio lifted its position in shares of Nelnet by 6.1% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,156 shares of the credit services provider’s stock valued at $101,000 after buying an additional 123 shares during the last quarter. Victory Capital Management Inc. increased its stake in Nelnet by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 3,104 shares of the credit services provider’s stock worth $146,000 after acquiring an additional 464 shares during the last quarter. SG Americas Securities LLC bought a new position in Nelnet in the 3rd quarter worth about $174,000. BNP Paribas Arbitrage SA increased its stake in Nelnet by 168.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,304 shares of the credit services provider’s stock worth $202,000 after acquiring an additional 2,700 shares during the last quarter. Finally, Principal Financial Group Inc. bought a new position in Nelnet in the 2nd quarter worth about $214,000. Institutional investors and hedge funds own 39.63% of the company’s stock.
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Nelnet, Inc focuses on delivering education-related products and services and student loan asset management. The Company is engaged in student loan servicing, tuition payment processing and school information systems, and communications. The Company’s segments include Loan Systems and Servicing, Tuition Payment Processing and Campus Commerce, Communications, Asset Generation and Management, and Corporate and Other Activities.
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