StockNews.com Upgrades Nelnet (NYSE:NNI) to Buy

StockNews.com upgraded shares of Nelnet (NYSE:NNI) from a hold rating to a buy rating in a research report sent to investors on Saturday morning.

Nelnet Trading Up 0.5 %

Shares of NYSE NNI opened at $112.94 on Friday. Nelnet has a 1-year low of $83.75 and a 1-year high of $127.32. The company has a market cap of $4.10 billion, a PE ratio of 37.15 and a beta of 0.91. The company has a current ratio of 31.47, a quick ratio of 31.47 and a debt-to-equity ratio of 2.78. The company has a 50-day moving average of $108.82 and a two-hundred day moving average of $110.49.

Nelnet Announces Dividend

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

Institutional Investors Weigh In On Nelnet

Institutional investors have recently modified their holdings of the business. Kingsview Wealth Management LLC acquired a new stake in shares of Nelnet during the 3rd quarter worth approximately $2,613,000. MML Investors Services LLC grew its position in shares of Nelnet by 7.4% during the 3rd quarter. MML Investors Services LLC now owns 2,279 shares of the credit services provider’s stock worth $258,000 after buying an additional 157 shares during the period. Barclays PLC grew its position in shares of Nelnet by 127.4% during the 3rd quarter. Barclays PLC now owns 28,996 shares of the credit services provider’s stock worth $3,285,000 after buying an additional 16,245 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Nelnet during the 3rd quarter worth approximately $323,000. Finally, Edgestream Partners L.P. acquired a new stake in shares of Nelnet during the 3rd quarter worth approximately $851,000. 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.