Nelnet (NYSE:NNI) Reaches New 52-Week High on Analyst Upgrade

Nelnet, Inc. (NYSE:NNI)’s share price hit a new 52-week high during mid-day trading on Thursday after TD Cowen raised their price target on the stock from $135.00 to $140.00. TD Cowen currently has a hold rating on the stock. Nelnet traded as high as $141.41 and last traded at $140.8250, with a volume of 64511 shares traded. The stock had previously closed at $135.10.

A number of other research firms have also issued reports on NNI. Weiss Ratings reissued a “hold (c+)” rating on shares of Nelnet in a report on Wednesday, October 8th. Cowen reaffirmed a “hold” rating on shares of Nelnet in a research report on Thursday. Finally, Wall Street Zen lowered Nelnet from a “strong-buy” rating to a “hold” rating in a report on Saturday, November 15th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $140.00.

Insider Activity

In other news, Director Deun Jona M. Van sold 400 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $128.95, for a total value of $51,580.00. Following the completion of the sale, the director directly owned 704 shares of the company’s stock, valued at $90,780.80. This trade represents a 36.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 50.90% of the company’s stock.

Institutional Investors Weigh In On Nelnet

Institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its stake in shares of Nelnet by 29.7% in the second quarter. JPMorgan Chase & Co. now owns 172,088 shares of the credit services provider’s stock valued at $20,843,000 after purchasing an additional 39,417 shares during the period. Wedge Capital Management L L P NC purchased a new position in Nelnet in the third quarter valued at about $1,086,000. Ameritas Advisory Services LLC purchased a new position in Nelnet in the second quarter valued at about $29,000. American Century Companies Inc. lifted its position in shares of Nelnet by 18.0% during the 2nd quarter. American Century Companies Inc. now owns 143,014 shares of the credit services provider’s stock valued at $17,322,000 after acquiring an additional 21,782 shares during the period. Finally, Farther Finance Advisors LLC boosted its stake in shares of Nelnet by 58,600.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,174 shares of the credit services provider’s stock worth $142,000 after acquiring an additional 1,172 shares in the last quarter. 33.51% of the stock is currently owned by hedge funds and other institutional investors.

Nelnet Price Performance

The firm has a market cap of $5.04 billion, a PE ratio of 11.79 and a beta of 0.83. The company has a current ratio of 28.98, a quick ratio of 28.98 and a debt-to-equity ratio of 2.18. The company has a 50 day moving average price of $132.11 and a 200 day moving average price of $128.07.

Nelnet (NYSE:NNI) last issued its quarterly earnings data on Thursday, November 6th. The credit services provider reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $1.43. The firm had revenue of $427.76 million during the quarter, compared to analysts’ expectations of $372.00 million. Nelnet had a return on equity of 12.58% and a net margin of 18.96%. On average, sell-side analysts expect that Nelnet, Inc. will post 4.52 EPS for the current year.

Nelnet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were given a $0.33 dividend. The ex-dividend date was Monday, December 1st. This represents a $1.32 annualized dividend and a dividend yield of 0.9%. This is a boost from Nelnet’s previous quarterly dividend of $0.30. Nelnet’s payout ratio is presently 11.09%.

About Nelnet

Nelnet, Inc (NYSE: NNI) is a diversified education services company founded in 1978 and headquartered in Lincoln, Nebraska. Originally established as the National Education Loan Network by Michael S. Dunlap, the company has grown into a prominent provider of student loan servicing and education finance solutions in the United States.

At the core of Nelnet’s business is student loan servicing, where it administers and manages federal and private education loans on behalf of borrowers and lending partners.