Nelnet (NYSE:NNI) Share Price Crosses Above Two Hundred Day Moving Average of $93.17

Nelnet, Inc. (NYSE:NNI) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $93.17 and traded as high as $101.45. Nelnet shares last traded at $100.82, with a volume of 342,155 shares.

Wall Street Analysts Forecast Growth

NNI has been the topic of several research reports. TD Cowen increased their price target on shares of Nelnet from $90.00 to $96.00 and gave the company a “hold” rating in a research report on Tuesday, May 14th. StockNews.com raised shares of Nelnet from a “hold” rating to a “buy” rating in a research note on Monday, May 13th.

Nelnet Trading Up 0.3 %

The business has a fifty day moving average price of $101.21 and a 200 day moving average price of $93.17. The company has a market capitalization of $3.67 billion, a PE ratio of 27.25 and a beta of 0.89. The company has a debt-to-equity ratio of 3.25, a quick ratio of 48.33 and a current ratio of 48.33.

Nelnet (NYSE:NNI) last released its quarterly earnings data on Thursday, May 9th. The credit services provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.44. The company had revenue of $579.96 million during the quarter. Nelnet had a net margin of 6.54% and a return on equity of 4.17%. During the same period in the previous year, the company earned $1.47 EPS. Analysts expect that Nelnet, Inc. will post 6 EPS for the current fiscal year.

Nelnet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend was Friday, May 31st. Nelnet’s payout ratio is 30.27%.

Insiders Place Their Bets

In related news, Director Kathleen Anne Farrell sold 1,700 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $101.73, for a total value of $172,941.00. Following the transaction, the director now owns 16,894 shares in the company, valued at $1,718,626.62. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 50.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Nelnet

Large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its holdings in shares of Nelnet by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,076,549 shares of the credit services provider’s stock valued at $183,194,000 after buying an additional 12,187 shares during the period. Vanguard Group Inc. grew its holdings in shares of Nelnet by 0.3% during the first quarter. Vanguard Group Inc. now owns 1,313,570 shares of the credit services provider’s stock valued at $124,329,000 after purchasing an additional 3,485 shares during the last quarter. Farmers & Merchants Investments Inc. raised its position in shares of Nelnet by 1.4% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 1,206,546 shares of the credit services provider’s stock worth $114,200,000 after purchasing an additional 16,820 shares during the period. Bandera Partners LLC lifted its holdings in shares of Nelnet by 7.7% in the 4th quarter. Bandera Partners LLC now owns 120,583 shares of the credit services provider’s stock worth $10,638,000 after purchasing an additional 8,583 shares during the last quarter. Finally, Bar Harbor Wealth Management boosted its holdings in shares of Nelnet by 1.9% during the first quarter. Bar Harbor Wealth Management now owns 108,034 shares of the credit services provider’s stock valued at $10,225,000 after acquiring an additional 2,042 shares during the period. Institutional investors own 33.51% of the company’s stock.

About Nelnet

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.