Nelnet (NYSE:NNI) Rating Lowered to Hold at StockNews.com

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

Nelnet Stock Up 0.4 %

NNI stock opened at $94.41 on Tuesday. The firm has a market cap of $3.50 billion, a PE ratio of 38.69 and a beta of 0.86. The company has a debt-to-equity ratio of 3.67, a quick ratio of 35.15 and a current ratio of 35.15. The firm’s fifty day moving average is $90.54 and its 200 day moving average is $87.87. Nelnet has a one year low of $81.67 and a one year high of $101.60.

Nelnet (NYSE:NNI) last released its quarterly earnings results on Tuesday, February 27th. The credit services provider reported ($0.04) EPS for the quarter, missing the consensus estimate of $1.15 by ($1.19). The firm had revenue of $260.66 million for the quarter. Nelnet had a net margin of 4.43% and a return on equity of 3.81%. On average, research analysts forecast that Nelnet will post 5.15 EPS for the current year.

Nelnet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.28 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.12 annualized dividend and a dividend yield of 1.19%. Nelnet’s dividend payout ratio (DPR) is 45.90%.

Institutional Trading of Nelnet

Several institutional investors have recently modified their holdings of NNI. Group One Trading L.P. acquired a new stake in shares of Nelnet in the first quarter valued at about $26,000. Lazard Asset Management LLC acquired a new stake in shares of Nelnet in the fourth quarter valued at about $29,000. CWM LLC grew its position in shares of Nelnet by 176.5% in the fourth quarter. CWM LLC now owns 412 shares of the credit services provider’s stock valued at $36,000 after purchasing an additional 263 shares during the period. TFO Wealth Partners LLC grew its position in shares of Nelnet by 49,900.0% in the fourth quarter. TFO Wealth Partners LLC now owns 500 shares of the credit services provider’s stock valued at $44,000 after purchasing an additional 499 shares during the period. Finally, Advisor Group Holdings Inc. grew its position in shares of Nelnet by 30.2% in the fourth quarter. Advisor Group Holdings Inc. now owns 715 shares of the credit services provider’s stock valued at $65,000 after purchasing an additional 166 shares during the period. Institutional investors and hedge funds 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.