Nelnet (NYSE:NNI) Downgraded by StockNews.com to Hold

StockNews.com cut shares of Nelnet (NYSE:NNI) from a buy rating to a hold rating in a report released on Tuesday morning.

Nelnet Stock Performance

Shares of NNI stock opened at $106.35 on Tuesday. Nelnet has a 52 week low of $82.22 and a 52 week high of $127.32. The company has a market capitalization of $3.86 billion, a price-to-earnings ratio of 34.98 and a beta of 0.90. The company has a 50-day simple moving average of $110.65 and a 200 day simple moving average of $109.15. The company has a debt-to-equity ratio of 2.78, a quick ratio of 31.47 and a current ratio of 31.47.

Nelnet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a dividend of $0.28 per share. The ex-dividend date was Monday, December 2nd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.05%. Nelnet’s dividend payout ratio (DPR) is currently 36.84%.

Insider Buying and Selling

In related news, insider William J. Munn sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $108.89, for a total transaction of $272,225.00. Following the transaction, the insider now directly owns 9,354 shares of the company’s stock, valued at approximately $1,018,557.06. This trade represents a 21.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 50.10% of the stock is currently owned by insiders.

Institutional Trading of Nelnet

Institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC acquired a new stake in shares of Nelnet in the second quarter valued at approximately $4,660,000. Kingsview Wealth Management LLC bought a new position in Nelnet during the 3rd quarter worth $2,613,000. Barclays PLC raised its holdings in Nelnet by 127.4% in the 3rd quarter. Barclays PLC now owns 28,996 shares of the credit services provider’s stock valued at $3,285,000 after acquiring an additional 16,245 shares in the last quarter. Denali Advisors LLC raised its holdings in Nelnet by 33.0% in the 2nd quarter. Denali Advisors LLC now owns 64,510 shares of the credit services provider’s stock valued at $6,506,000 after acquiring an additional 16,000 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC bought a new stake in shares of Nelnet during the 3rd quarter valued at $865,000. 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.