Nelnet (NYSE:NNI) Raised to “Buy” on StockNews.com

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StockNews.com has updated the shares of Nelnet (NYSE:NNI – Get a Rating) from a hold rating to a buy rating in a research report released Friday morning.

Separately, Credit Suisse Group lowered its price target on Nelnet shares from $96.00 to $92.00 and set a neutral rating for the company in a Wednesday, March 2 research report.

NYSE NNI opened at $81.30 on Friday. The company has a current ratio of 72.67, a quick ratio of 57.43 and a debt ratio of 5.43. The stock’s 50-day moving average is $84.09 and its two-hundred-day moving average is $87.15. The company has a market capitalization of $3.07 billion, a price-earnings ratio of 6.83 and a beta of 0.72. Nelnet has a 1 year minimum of $72.00 and a 1 year maximum of $99.79.

Nelnet (NYSE:NNI – Get Rating) last released its results on Monday, February 28. The credit service provider reported earnings per share (EPS) of $2.50 for the quarter. Nelnet had a net margin of 27.45% and a return on equity of 10.39%. The company had revenue of $394.49 million in the quarter.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 15. Investors of record on Wednesday, June 1 will receive a dividend of $0.24. This represents an annualized dividend of $0.96 and a yield of 1.18%. The ex-dividend date is Tuesday, May 31. Nelnet’s dividend payout ratio (DPR) is currently 8.06%.

Separately, insider William J. Munn sold 500 shares of the company in a trade that took place on Monday, May 9. The shares were sold at an average price of $81.21, for a total value of $40,605.00. Following the completion of the transaction, the insider now owns 21,271 shares of the company, valued at approximately $1,727,417.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC’s website. Insiders hold 50.30% of the shares of the company.

Several institutional investors have recently changed their stake in the company. Legal & General Group Plc increased its position in Nelnet shares by 0.8% during the 4th quarter. Legal & General Group Plc now owns 16,428 shares of the credit services provider valued at $1,604,000 after acquiring 132 more shares in the last quarter. Royal Bank of Canada increased its position in Nelnet shares by 1.9% during the third quarter. Royal Bank of Canada now owns 8,679 shares of the credit service provider valued at $688,000 after acquiring 159 additional shares in the last quarter. Ancora Advisors LLC increased its position in Nelnet shares by 15.6% during the 1st quarter. Ancora Advisors LLC now owns 1,484 shares of the credit services provider valued at $108,000 after acquiring 200 additional shares in the last quarter. KBC Group NV increased its position in Nelnet shares by 25.1% during the first quarter. KBC Group NV now owns 1,156 shares in the credit services provider valued at $98,000 after acquiring 232 additional shares in the last quarter. Finally, LPL Financial LLC increased its position in Nelnet shares by 7.1% during the 3rd quarter. LPL Financial LLC now owns 3,773 shares of the credit service provider valued at $299,000 after acquiring an additional 250 shares in the last quarter.

Nelnet Company Profile (Get an evaluation)

Nelnet, Inc engages in loan servicing, communications, education technology, services and payment processing worldwide. The Loan Management and Systems segment provides loan conversion, application processing, borrower update, customer service, payment processing, due diligence procedures, funds management reconciliation and complaints handling.

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