Nelnet Inc. (NNI) Insider Sells $39,000.00 in Stock
Nelnet Inc. (NYSE:NNI) insider William J. Munn sold 1,000 shares of the firm’s stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $39.00, for a total value of $39,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Nelnet Inc. (NYSE:NNI) opened at 47.31 on Monday. Nelnet Inc. has a 52-week low of $27.80 and a 52-week high of $47.43. The stock’s 50 day moving average price is $39.98 and its 200-day moving average price is $37.57. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of 8.48 and a beta of 0.91.
Nelnet (NYSE:NNI) last released its quarterly earnings results on Wednesday, November 9th. The company reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.23. Nelnet had a return on equity of 11.83% and a net margin of 20.23%. During the same period last year, the firm posted $1.43 EPS. On average, analysts forecast that Nelnet Inc. will post $5.04 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend is Tuesday, November 29th. This is a positive change from Nelnet’s previous quarterly dividend of $0.12. Nelnet’s payout ratio is 8.63%.
A number of research firms have recently commented on NNI. Credit Suisse Group AG lowered Nelnet from an “outperform” rating to a “neutral” rating in a research report on Monday. Compass Point dropped their price target on Nelnet from $50.00 to $47.00 and set a “buy” rating on the stock in a research report on Monday, August 8th.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Huber Capital Management LLC increased its position in shares of Nelnet by 2.8% in the third quarter. Huber Capital Management LLC now owns 377,446 shares of the company’s stock worth $15,237,000 after buying an additional 10,446 shares in the last quarter. Principal Financial Group Inc. acquired a new position in shares of Nelnet during the third quarter worth about $207,000. Spark Investment Management LLC increased its position in shares of Nelnet by 38.3% in the third quarter. Spark Investment Management LLC now owns 45,100 shares of the company’s stock worth $1,820,000 after buying an additional 12,500 shares in the last quarter. Northern Trust Corp increased its position in shares of Nelnet by 0.6% in the third quarter. Northern Trust Corp now owns 1,048,256 shares of the company’s stock worth $42,318,000 after buying an additional 5,892 shares in the last quarter. Finally, Matarin Capital Management LLC acquired a new position in shares of Nelnet during the third quarter worth about $311,000. 40.74% of the stock is currently owned by institutional investors.
Nelnet Company Profile
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