Nelnet (NYSE:NNI) Upgraded by StockNews.com to “Buy” Rating

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

Nelnet Stock Down 0.8 %

NYSE NNI opened at $111.44 on Wednesday. The company has a quick ratio of 31.47, a current ratio of 31.47 and a debt-to-equity ratio of 2.78. Nelnet has a 52 week low of $83.75 and a 52 week high of $127.32. The firm has a market capitalization of $4.04 billion, a price-to-earnings ratio of 36.66 and a beta of 0.91. The company has a fifty day moving average of $108.14 and a two-hundred day moving average of $110.32.

Nelnet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date is Friday, February 28th. Nelnet’s dividend payout ratio (DPR) is currently 36.84%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Kingsview Wealth Management LLC bought a new stake in shares of Nelnet during the 3rd quarter worth approximately $2,613,000. SG Americas Securities LLC purchased a new stake in Nelnet in the third quarter worth $499,000. MML Investors Services LLC lifted its position in shares of Nelnet by 7.4% during the third quarter. MML Investors Services LLC now owns 2,279 shares of the credit services provider’s stock worth $258,000 after purchasing an additional 157 shares during the last quarter. Barclays PLC boosted its stake in shares of Nelnet by 127.4% during the third quarter. Barclays PLC now owns 28,996 shares of the credit services provider’s stock valued at $3,285,000 after purchasing an additional 16,245 shares during the period. Finally, Intech Investment Management LLC bought a new position in shares of Nelnet in the third quarter worth about $323,000. Hedge funds and other institutional investors own 33.51% of the company’s stock.

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.