Shares of Nelnet (NYSE:NNI) have been given a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.
Zacks has also assigned Nelnet an industry rank of 74 out of 265 based on the ratings given to its competitors.
Separately, TheStreet cut Nelnet from a “c-” rating to a “d+” rating in a report on Friday, March 16th.
In other news, major shareholder Angie Muhleisen sold 2,000 shares of Nelnet stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $52.05, for a total transaction of $104,100.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 6,000 shares of company stock worth $314,560 in the last quarter. 47.00% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in the company. Element Capital Management LLC bought a new position in shares of Nelnet during the 1st quarter valued at about $342,000. GSA Capital Partners LLP bought a new position in shares of Nelnet during the 1st quarter valued at about $502,000. Quantbot Technologies LP bought a new position in shares of Nelnet during the 1st quarter valued at about $104,000. Dimensional Fund Advisors LP lifted its holdings in shares of Nelnet by 0.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,391,434 shares of the credit services provider’s stock valued at $125,335,000 after purchasing an additional 18,061 shares in the last quarter. Finally, Cavalier Investments LLC bought a new position in shares of Nelnet during the 1st quarter valued at about $283,000. Institutional investors and hedge funds own 40.97% of the company’s stock.
Shares of Nelnet opened at $60.60 on Wednesday, according to Marketbeat Ratings. The company has a current ratio of 127.47, a quick ratio of 127.47 and a debt-to-equity ratio of 9.45. Nelnet has a 1 year low of $59.37 and a 1 year high of $59.94. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of 12.17 and a beta of 0.89.
Nelnet (NYSE:NNI) last issued its earnings results on Tuesday, May 8th. The credit services provider reported $1.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.36 by $0.31. Nelnet had a return on equity of 9.28% and a net margin of 17.43%. The firm had revenue of $322.21 million for the quarter. During the same quarter last year, the business posted $1.23 EPS.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Friday, June 1st will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend is Thursday, May 31st.
Nelnet Company Profile
Nelnet, Inc provides education related products and services, and loan asset management services worldwide. The company's Loan Systems and Servicing segment is involved in loan servicing activities, such as loan conversion, application processing, borrower updates, customer service, payment processing, due diligence procedures, funds management reconciliation, and claim processing activities for student loan portfolio and third-party clients.
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