Insider Selling: Nelnet CFO Sells 10,000 Shares of Stock (NNI)
Nelnet (NYSE:NNI) CFO James D. Kruger sold 10,000 shares of Nelnet stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $45.00, for a total transaction of $450,000.00. Following the completion of the sale, the chief financial officer now directly owns 132,250 shares of the company’s stock, valued at approximately $5,951,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Nelnet (NYSE:NNI) traded down 1.32% during mid-day trading on Tuesday, hitting $44.24. The stock had a trading volume of 59,233 shares. Nelnet has a 52 week low of $34.86 and a 52 week high of $45.49. The stock’s 50-day moving average is $41.6 and its 200-day moving average is $40.50. The company has a market cap of $2.048 billion and a price-to-earnings ratio of 7.39.
Nelnet (NYSE:NNI) last issued its quarterly earnings data on Thursday, August 7th. The company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.07. During the same quarter in the previous year, the company posted $1.44 earnings per share. Analysts expect that Nelnet will post $6.12 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 15th. Shareholders of record on Monday, September 1st will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Wednesday, August 27th.
NNI has been the subject of a number of recent research reports. Analysts at Compass Point raised their price target on shares of Nelnet from $53.00 to $54.00 in a research note on Friday. Analysts at Credit Suisse reiterated an “outperform” rating on shares of Nelnet in a research note on Friday. They now have a $53.00 price target on the stock, up previously from $52.00.
Nelnet, Inc is an education services company focused primarily on providing fee-based processing services and education-related products and services in four core areas: asset management and finance, loan servicing, payment processing, and enrollment services (NYSE:NNI).
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