Nelnet (NYSE:NNI) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Nelnet (NYSE:NNI) from a hold rating to a buy rating in a research note published on Wednesday.

Nelnet Stock Up 0.4 %

NNI opened at $113.11 on Wednesday. The company has a quick ratio of 31.47, a current ratio of 31.47 and a debt-to-equity ratio of 2.78. The firm has a 50 day moving average price of $108.36 and a 200-day moving average price of $110.35. Nelnet has a twelve month low of $83.75 and a twelve month high of $127.32. The stock has a market capitalization of $4.10 billion, a price-to-earnings ratio of 37.21 and a beta of 0.91.

Nelnet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.12 dividend on an annualized basis and a yield of 0.99%. Nelnet’s dividend payout ratio is currently 36.84%.

Institutional Trading of Nelnet

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC boosted its position in shares of Nelnet by 20.3% in the third quarter. FMR LLC now owns 556 shares of the credit services provider’s stock worth $63,000 after purchasing an additional 94 shares during the period. D.A. Davidson & CO. raised its stake in Nelnet by 0.8% during the third quarter. D.A. Davidson & CO. now owns 17,536 shares of the credit services provider’s stock valued at $1,987,000 after purchasing an additional 136 shares in the last quarter. MetLife Investment Management LLC raised its stake in shares of Nelnet by 1.8% in the fourth quarter. MetLife Investment Management LLC now owns 8,510 shares of the credit services provider’s stock valued at $909,000 after acquiring an additional 151 shares during the period. MML Investors Services LLC raised its stake in shares of Nelnet by 7.4% in the third quarter. MML Investors Services LLC now owns 2,279 shares of the credit services provider’s stock valued at $258,000 after acquiring an additional 157 shares during the period. Finally, Inspire Investing LLC raised its stake in shares of Nelnet by 5.0% in the third quarter. Inspire Investing LLC now owns 3,662 shares of the credit services provider’s stock valued at $415,000 after acquiring an additional 175 shares during the period. 33.51% of the stock is owned by hedge funds and other institutional investors.

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.