Deun Jona Van Sells 400 Shares of Nelnet (NYSE:NNI) Stock

Nelnet, Inc. (NYSE:NNI) Director Deun Jona Van sold 400 shares of the business’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $128.95, for a total value of $51,580.00. Following the transaction, the director directly owned 704 shares of the company’s stock, valued at approximately $90,780.80. This represents a 36.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Nelnet Price Performance

Shares of NNI opened at $132.73 on Friday. The firm has a market capitalization of $4.77 billion, a price-to-earnings ratio of 11.15 and a beta of 0.83. The firm’s fifty day simple moving average is $129.61 and its 200-day simple moving average is $125.15. Nelnet, Inc. has a twelve month low of $98.15 and a twelve month high of $136.68. The company has a current ratio of 28.98, a quick ratio of 28.98 and a debt-to-equity ratio of 2.18.

Nelnet (NYSE:NNI) last issued its earnings results on Thursday, November 6th. The credit services provider reported $2.95 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $1.43. Nelnet had a net margin of 18.96% and a return on equity of 12.58%. The firm had revenue of $427.76 million during the quarter, compared to the consensus estimate of $372.00 million. Equities analysts forecast that Nelnet, Inc. will post 4.52 EPS for the current fiscal year.

Nelnet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a dividend of $0.33 per share. This is a boost from Nelnet’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.32 annualized dividend and a dividend yield of 1.0%. Nelnet’s dividend payout ratio is 11.09%.

Institutional Investors Weigh In On Nelnet

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NNI. Ameritas Advisory Services LLC purchased a new position in Nelnet during the 2nd quarter worth $29,000. Financial Management Professionals Inc. acquired a new position in shares of Nelnet during the second quarter worth about $32,000. Smartleaf Asset Management LLC raised its holdings in Nelnet by 189.8% during the third quarter. Smartleaf Asset Management LLC now owns 368 shares of the credit services provider’s stock worth $46,000 after purchasing an additional 241 shares in the last quarter. Osaic Holdings Inc. lifted its position in Nelnet by 170.3% in the second 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 during the period. Finally, Maseco LLP acquired a new stake in Nelnet in the second quarter valued at about $45,000. Hedge funds and other institutional investors own 33.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on NNI shares. Wall Street Zen cut Nelnet from a “strong-buy” rating to a “hold” rating in a research note on Saturday, November 15th. Weiss Ratings reissued a “hold (c+)” rating on shares of Nelnet in a report on Wednesday, October 8th. Finally, TD Cowen boosted their price objective on shares of Nelnet from $130.00 to $135.00 and gave the stock a “hold” rating in a research report on Monday, November 10th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, Nelnet presently has an average rating of “Hold” and an average target price of $135.00.

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.