Nelnet (NYSE:NNI) PT Raised to $98.00

Nelnet (NYSE:NNI) had its price target upped by TD Cowen from $96.00 to $98.00 in a report published on Monday, Benzinga reports. The firm currently has a hold rating on the credit services provider’s stock.

Separately, StockNews.com upgraded Nelnet from a hold rating to a buy rating in a research note on Monday, May 13th.

Nelnet Stock Up 0.9 %

NYSE:NNI opened at $109.81 on Monday. The company has a quick ratio of 48.33, a current ratio of 48.33 and a debt-to-equity ratio of 3.25. The stock’s fifty day moving average is $104.97 and its two-hundred day moving average is $98.09. Nelnet has a 52 week low of $81.67 and a 52 week high of $114.26. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of 29.68 and a beta of 0.91.

Nelnet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend is Friday, August 30th. Nelnet’s dividend payout ratio (DPR) is 30.27%.

Insider Activity

In other news, Director Kathleen Anne Farrell sold 1,700 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $101.73, for a total value of $172,941.00. Following the sale, the director now directly owns 16,894 shares in the company, valued at $1,718,626.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 50.10% of the company’s stock.

Hedge Funds Weigh In On Nelnet

Several large investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its holdings in Nelnet by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,076,549 shares of the credit services provider’s stock valued at $183,194,000 after buying an additional 12,187 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Nelnet by 0.3% during the first quarter. Vanguard Group Inc. now owns 1,313,570 shares of the credit services provider’s stock worth $124,329,000 after purchasing an additional 3,485 shares during the last quarter. Farmers & Merchants Investments Inc. grew its holdings in shares of Nelnet by 1.4% during the first quarter. Farmers & Merchants Investments Inc. now owns 1,206,546 shares of the credit services provider’s stock worth $114,200,000 after purchasing an additional 16,820 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Nelnet by 4.9% during the second quarter. American Century Companies Inc. now owns 122,055 shares of the credit services provider’s stock worth $12,310,000 after purchasing an additional 5,752 shares during the last quarter. Finally, Bandera Partners LLC grew its holdings in shares of Nelnet by 7.7% during the fourth quarter. Bandera Partners LLC now owns 120,583 shares of the credit services provider’s stock worth $10,638,000 after purchasing an additional 8,583 shares during the last quarter. 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.