Nelnet, Inc. (NYSE:NNI) released its quarterly earnings results on Monday, August 7th. The credit services provider reported $1.08 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.08, Briefing.com reports. Nelnet had a return on equity of 9.65% and a net margin of 20.19%. The business had revenue of $161.70 million for the quarter, compared to the consensus estimate of $182.02 million. During the same quarter last year, the business posted $1.13 earnings per share.
Shares of Nelnet (NNI) traded down 0.77% on Friday, hitting $45.40. The stock had a trading volume of 179,888 shares. Nelnet has a 12 month low of $34.38 and a 12 month high of $55.01. The company has a 50 day moving average price of $47.74 and a 200-day moving average price of $45.53. The stock has a market cap of $1.89 billion, a PE ratio of 7.36 and a beta of 0.97.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a dividend of $0.14 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.23%. Nelnet’s dividend payout ratio (DPR) is currently 9.09%.
A number of equities research analysts have weighed in on the company. Compass Point downgraded Nelnet from a “buy” rating to a “neutral” rating and set a $52.00 price target on the stock. in a research report on Wednesday, August 9th. BidaskClub upgraded Nelnet from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Finally, TheStreet upgraded Nelnet from a “d+” rating to a “c” rating in a research report on Tuesday, August 8th.
In other Nelnet news, major shareholder Angie Muhleisen sold 2,000 shares of the company’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $45.00, for a total value of $90,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. 45.40% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the company. Norges Bank acquired a new position in Nelnet during the fourth quarter worth about $18,623,000. Bank of New York Mellon Corp increased its position in Nelnet by 66.6% in the first quarter. Bank of New York Mellon Corp now owns 290,238 shares of the credit services provider’s stock worth $12,730,000 after buying an additional 116,060 shares in the last quarter. Vanguard Group Inc. increased its position in Nelnet by 3.5% in the second quarter. Vanguard Group Inc. now owns 2,087,767 shares of the credit services provider’s stock worth $98,146,000 after buying an additional 69,695 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Nelnet by 3.1% in the first quarter. Dimensional Fund Advisors LP now owns 2,235,079 shares of the credit services provider’s stock worth $98,030,000 after buying an additional 66,941 shares in the last quarter. Finally, LSV Asset Management increased its position in Nelnet by 6.8% in the first quarter. LSV Asset Management now owns 1,020,284 shares of the credit services provider’s stock worth $44,749,000 after buying an additional 65,348 shares in the last quarter. Institutional investors and hedge funds own 41.07% of the company’s stock.
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Nelnet, Inc focuses on delivering education-related products and services and student loan asset management. The Company is engaged in student loan servicing, tuition payment processing and school information systems, and communications. The Company’s segments include Loan Systems and Servicing, Tuition Payment Processing and Campus Commerce, Communications, Asset Generation and Management, and Corporate and Other Activities.
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