Nelnet (NYSE:NNI) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Nelnet, Inc. (NYSE:NNI) saw unusually-strong trading volume on Tuesday . Approximately 67,155 shares changed hands during mid-day trading, a decline of 6% from the previous session’s volume of 71,814 shares.The stock last traded at $127.4910 and had previously closed at $126.40.

Analyst Ratings Changes

NNI has been the topic of several analyst reports. Wall Street Zen lowered shares of Nelnet from a “strong-buy” rating to a “hold” rating in a research report on Saturday, November 15th. TD Cowen boosted their price objective on shares of Nelnet from $130.00 to $135.00 and gave the stock a “hold” rating in a research note on Monday, November 10th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Nelnet in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $135.00.

Nelnet Trading Up 1.4%

The company has a current ratio of 29.42, a quick ratio of 29.41 and a debt-to-equity ratio of 2.27. The stock has a market capitalization of $4.60 billion, a P/E ratio of 14.19 and a beta of 0.85. The business has a 50-day moving average price of $128.50 and a two-hundred day moving average price of $123.84.

Nelnet (NYSE:NNI) last posted its quarterly earnings data on Thursday, November 6th. The credit services provider reported $2.95 earnings per share for the quarter, topping the consensus estimate of $1.52 by $1.43. Nelnet had a net margin of 14.86% and a return on equity of 10.09%. The business had revenue of $427.76 million during the quarter, compared to analysts’ expectations of $372.00 million. On average, analysts expect that Nelnet, Inc. will post 4.52 EPS for the current fiscal year.

Nelnet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, December 1st. This is a positive change from Nelnet’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 1.0%. Nelnet’s payout ratio is presently 11.09%.

Insider Activity

In related news, Director Thomas Edward Henning sold 3,102 shares of the company’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $128.87, for a total transaction of $399,754.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 50.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Ameritas Advisory Services LLC acquired a new stake in shares of Nelnet during the second quarter valued at about $29,000. Financial Management Professionals Inc. bought a new stake in Nelnet in the second quarter valued at approximately $32,000. Maseco LLP acquired a new stake in Nelnet during the 2nd quarter valued at approximately $45,000. Osaic Holdings Inc. lifted its position in shares of Nelnet by 170.3% during the 2nd quarter. Osaic Holdings Inc. now owns 373 shares of the credit services provider’s stock valued at $45,000 after acquiring an additional 235 shares during the period. Finally, Smartleaf Asset Management LLC boosted its stake in Nelnet by 189.8% during the third quarter. Smartleaf Asset Management LLC now owns 368 shares of the credit services provider’s stock worth $46,000 after acquiring an additional 241 shares in the last quarter. 33.51% of the stock is currently owned by 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.