Nelnet (NYSE:NNI) Cut to “Hold” at StockNews.com

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

Nelnet Stock Up 0.2 %

Nelnet stock opened at $106.61 on Tuesday. The firm has a 50 day moving average price of $110.35 and a 200-day moving average price of $109.17. 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 twelve month low of $82.22 and a twelve month high of $127.32. The company has a market capitalization of $3.87 billion, a P/E ratio of 35.07 and a beta of 0.90.

Nelnet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a $0.28 dividend. The ex-dividend date was Monday, December 2nd. This represents a $1.12 annualized dividend and a dividend yield of 1.05%. Nelnet’s payout ratio is presently 36.84%.

Insider Transactions at Nelnet

In other news, insider William J. Munn sold 2,500 shares of the 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 approximately $1,018,557.06. This represents a 21.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 50.10% of the stock is owned by corporate insiders.

Institutional Trading of Nelnet

Institutional investors and hedge funds 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 $2,613,000. Renaissance Technologies LLC purchased a new stake in Nelnet during the second quarter valued at about $4,660,000. SG Americas Securities LLC bought a new stake in Nelnet during the third quarter worth about $499,000. Bank of Montreal Can purchased a new position in shares of Nelnet in the 2nd quarter worth about $637,000. Finally, Intech Investment Management LLC bought a new position in shares of Nelnet during the 3rd quarter valued at about $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.