Nelnet (NYSE:NNI – Free Report) had its price objective trimmed by TD Cowen from $130.00 to $125.00 in a research note published on Tuesday,Benzinga reports. The firm currently has a hold rating on the credit services provider’s stock.
A number of other equities research analysts have also weighed in on the company. Weiss Ratings lowered Nelnet from a “buy (b)” rating to a “hold (c+)” rating in a research report on Wednesday, August 12th. Zacks Research downgraded Nelnet from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 8th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $125.00.
View Our Latest Stock Report on Nelnet
Nelnet Price Performance
Nelnet (NYSE:NNI – Get Free Report) last posted its earnings results on Thursday, August 6th. The credit services provider reported $1.77 earnings per share for the quarter, missing analysts’ consensus estimates of $2.13 by ($0.36). The company had revenue of $410.01 million for the quarter, compared to the consensus estimate of $419.92 million. Nelnet had a return on equity of 8.26% and a net margin of 14.35%. Research analysts predict that Nelnet will post 7.42 earnings per share for the current fiscal year.
Nelnet Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $1.32 annualized dividend and a dividend yield of 1.0%. Nelnet’s dividend payout ratio (DPR) is presently 15.79%.
Hedge Funds Weigh In On Nelnet
A number of hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd acquired a new stake in Nelnet in the fourth quarter valued at $31,000. Ameritas Advisory Services LLC bought a new position in Nelnet during the 2nd quarter worth $33,000. Integrated Wealth Concepts LLC acquired a new position in Nelnet during the 2nd quarter worth about $38,000. EverSource Wealth Advisors LLC lifted its holdings in Nelnet by 51.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 445 shares of the credit services provider’s stock worth $57,000 after buying an additional 151 shares during the period. Finally, Versant Capital Management Inc grew its position in shares of Nelnet by 144.2% in the 2nd quarter. Versant Capital Management Inc now owns 591 shares of the credit services provider’s stock valued at $79,000 after buying an additional 349 shares during the last quarter. Institutional investors and hedge funds own 33.51% of the company’s stock.
About Nelnet
Nelnet, Inc is an education-focused technology and financial services company headquartered in Lincoln, Nebraska. The company provides products and services that support students, families, schools, lenders and education-related organizations, with operations spanning student loan servicing, education payments, education technology and financial services.
Nelnet’s education services business provides servicing and technology for federal and private student loans, including account management, repayment support and borrower communications.
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