Nelnet (NYSE:NNI) Shares Cross Above 200-Day Moving Average – Here’s Why

Nelnet, Inc. (NYSE:NNI) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $129.63 and traded as high as $133.70. Nelnet shares last traded at $132.17, with a volume of 114,628 shares trading hands.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. TD Cowen reaffirmed a “hold” rating on shares of Nelnet in a report on Thursday, January 8th. Zacks Research upgraded Nelnet from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 12th. Finally, Wall Street Zen cut Nelnet from a “strong-buy” rating to a “hold” rating in a research report on Saturday, November 15th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $140.00.

Nelnet Stock Down 0.1%

The company has a market cap of $4.75 billion, a PE ratio of 11.11 and a beta of 0.82. The firm has a 50-day simple moving average of $133.67 and a two-hundred day simple moving average of $129.63. The company has a debt-to-equity ratio of 2.18, a current ratio of 28.98 and a quick ratio of 28.98.

Nelnet (NYSE:NNI) last posted its quarterly earnings data on Thursday, November 6th. The credit services provider reported $2.95 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $1.43. Nelnet had a return on equity of 12.58% and a net margin of 18.96%.The business had revenue of $427.76 million for the quarter, compared to analyst estimates of $372.00 million. Research analysts anticipate that Nelnet, Inc. will post 4.52 earnings per share for the current fiscal year.

Nelnet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, February 27th. Nelnet’s dividend payout ratio (DPR) is currently 11.09%.

Insider Activity at Nelnet

In other news, Director Deun Jona M. Van sold 400 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $128.95, for a total value of $51,580.00. Following the completion of the transaction, the director owned 704 shares of the company’s stock, valued at $90,780.80. The trade was a 36.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 50.90% of the stock is currently owned by company insiders.

Institutional Trading of Nelnet

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Legato Capital Management LLC acquired a new position in Nelnet in the 4th quarter valued at $486,000. Handelsbanken Fonder AB increased its stake in Nelnet by 18.4% in the fourth quarter. Handelsbanken Fonder AB now owns 5,151 shares of the credit services provider’s stock valued at $685,000 after purchasing an additional 800 shares during the last quarter. Swiss Life Asset Management Ltd purchased a new position in Nelnet during the fourth quarter worth about $251,000. Denali Advisors LLC lifted its position in Nelnet by 14.4% during the fourth quarter. Denali Advisors LLC now owns 44,600 shares of the credit services provider’s stock worth $5,930,000 after buying an additional 5,600 shares during the period. Finally, Ballentine Partners LLC acquired a new stake in Nelnet in the 4th quarter worth about $210,000. 33.51% of the stock is owned by hedge funds and other institutional investors.

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.