Nelnet (NYSE:NNI) Lowered to “Hold” Rating by StockNews.com

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

Nelnet Trading Up 0.2 %

NYSE NNI opened at $106.61 on Tuesday. The stock has a 50 day simple moving average of $110.35 and a two-hundred day simple moving average of $109.17. Nelnet has a fifty-two week low of $82.22 and a fifty-two week high of $127.32. The stock has a market cap of $3.87 billion, a P/E ratio of 35.07 and a beta of 0.90. The company has a debt-to-equity ratio of 2.78, a quick ratio of 31.47 and a current ratio of 31.47.

Nelnet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend was Monday, December 2nd. Nelnet’s payout ratio is currently 36.84%.

Insiders Place Their Bets

In other news, insider William J. Munn sold 2,500 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $108.89, for a total value of $272,225.00. Following the sale, the insider now directly owns 9,354 shares of the company’s stock, valued at $1,018,557.06. This represents a 21.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 50.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Nelnet

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Kingsview Wealth Management LLC purchased a new position in Nelnet during the third quarter valued at $2,613,000. Renaissance Technologies LLC purchased a new position in shares of Nelnet in the 2nd quarter worth about $4,660,000. SG Americas Securities LLC bought a new position in Nelnet in the 3rd quarter worth about $499,000. Bank of Montreal Can purchased a new position in shares of Nelnet in the second quarter worth $637,000. Finally, Intech Investment Management LLC purchased a new position in shares of Nelnet during the third quarter valued at approximately $323,000. Hedge funds and other institutional investors own 33.51% of the company’s stock.

Nelnet Company Profile

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.