Nelnet Inc. (NNI) Stock Rating Upgraded by TheStreet
Nelnet Inc. (NYSE:NNI) was upgraded by equities research analysts at TheStreet from a “sell” rating to a “hold” rating in a report issued on Friday.
Several other equities analysts have also commented on the company. Compass Point decreased their price target on Nelnet from $50.00 to $47.00 and set a “buy” rating on the stock in a research note on Monday, August 8th. Credit Suisse Group AG lowered Nelnet from an “outperform” rating to a “neutral” rating and upped their price target for the company from $45.00 to $48.00 in a research note on Monday. They noted that the move was a valuation call.
Nelnet (NYSE:NNI) opened at 49.04 on Friday. The firm has a 50-day moving average price of $40.25 and a 200 day moving average price of $37.56. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of 8.78 and a beta of 0.91. Nelnet has a 1-year low of $27.80 and a 1-year high of $49.66.
Nelnet (NYSE:NNI) last announced its quarterly earnings results on Wednesday, November 9th. The company reported $1.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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, equities research analysts anticipate that Nelnet will post $5.04 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be paid a dividend of $0.14 per share. This is a positive change from Nelnet’s previous quarterly dividend of $0.12. The ex-dividend date is Tuesday, November 29th. This represents a $0.56 annualized dividend and a yield of 1.14%. Nelnet’s dividend payout ratio is presently 8.63%.
In related news, insider William J. Munn sold 1,000 shares of the stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $39.00, for a total transaction of $39,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 45.40% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the company. Boston Partners raised its position in Nelnet by 20.6% in the third quarter. Boston Partners now owns 1,046,309 shares of the company’s stock valued at $42,239,000 after buying an additional 178,608 shares during the last quarter. Emerald Acquisition Ltd. purchased a new position in Nelnet during the second quarter valued at about $5,613,000. Dimensional Fund Advisors LP raised its position in Nelnet by 6.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,104,320 shares of the company’s stock valued at $73,122,000 after buying an additional 133,552 shares during the last quarter. Foundry Partners LLC purchased a new position in Nelnet during the second quarter valued at about $3,334,000. Finally, Vanguard Group Inc. raised its position in Nelnet by 4.7% in the second quarter. Vanguard Group Inc. now owns 1,953,756 shares of the company’s stock valued at $67,893,000 after buying an additional 87,977 shares during the last quarter. 40.74% of the stock is currently owned by hedge funds and other institutional investors.
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