Nelnet (NYSE:NNI) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Nelnet (NYSE:NNI) from a hold rating to a buy rating in a research note published on Wednesday.

Nelnet Stock Up 2.1 %

Nelnet stock opened at $107.42 on Wednesday. The stock has a 50 day moving average of $107.73 and a two-hundred day moving average of $109.77. Nelnet has a twelve month low of $82.58 and a twelve month high of $127.32. The stock has a market capitalization of $3.90 billion, a price-to-earnings ratio of 35.34 and a beta of 0.91. The company has a current ratio of 31.47, a quick ratio of 31.47 and a debt-to-equity ratio of 2.78.

Nelnet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend was Monday, December 2nd. Nelnet’s payout ratio is 36.84%.

Insider Transactions at Nelnet

In related news, insider William J. Munn sold 2,500 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $108.89, for a total transaction of $272,225.00. Following the transaction, the insider now owns 9,354 shares of the company’s stock, valued at $1,018,557.06. This represents a 21.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 50.10% of the company’s stock.

Institutional Investors Weigh In On Nelnet

Several institutional investors have recently made changes to their positions in the stock. Christopher J. Hasenberg Inc purchased a new position in shares of Nelnet in the 4th quarter valued at about $38,000. FMR LLC increased its holdings in Nelnet by 20.3% in the third quarter. FMR LLC now owns 556 shares of the credit services provider’s stock valued at $63,000 after buying an additional 94 shares in the last quarter. Quest Partners LLC increased its holdings in Nelnet by 34,283.3% in the third quarter. Quest Partners LLC now owns 2,063 shares of the credit services provider’s stock valued at $234,000 after buying an additional 2,057 shares in the last quarter. Security National Bank of Sioux City Iowa IA purchased a new position in Nelnet in the second quarter valued at about $212,000. Finally, MML Investors Services LLC increased its holdings in Nelnet by 7.4% in the third quarter. MML Investors Services LLC now owns 2,279 shares of the credit services provider’s stock valued at $258,000 after buying an additional 157 shares in the last quarter. 33.51% of the stock is currently owned by hedge funds and other institutional investors.

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.