TD Cowen Boosts Nelnet (NYSE:NNI) Price Target to $98.00

Nelnet (NYSE:NNI) had its price objective increased by TD Cowen from $96.00 to $98.00 in a research report released on Monday morning, Benzinga reports. The brokerage currently has a hold rating on the credit services provider’s stock.

Separately, StockNews.com raised shares of Nelnet from a hold rating to a buy rating in a research report on Monday, May 13th.

Nelnet Stock Performance

NYSE:NNI opened at $108.78 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 company has a market cap of $3.96 billion, a P/E ratio of 29.40 and a beta of 0.91. Nelnet has a fifty-two week low of $81.67 and a fifty-two week high of $114.26. The firm’s 50 day moving average is $104.84 and its two-hundred day moving average is $98.02.

Nelnet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend is Friday, August 30th. Nelnet’s payout ratio is 30.27%.

Insider Activity at Nelnet

In related news, Director Kathleen Anne Farrell sold 1,700 shares of the firm’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $101.73, for a total transaction of $172,941.00. Following the completion of the sale, the director now directly owns 16,894 shares of the company’s stock, valued at approximately $1,718,626.62. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 50.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NNI. Arizona State Retirement System lifted its position in shares of Nelnet by 7.2% in the 4th quarter. Arizona State Retirement System now owns 4,470 shares of the credit services provider’s stock worth $394,000 after buying an additional 302 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Nelnet by 23.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,707 shares of the credit services provider’s stock valued at $327,000 after purchasing an additional 694 shares during the last quarter. CWM LLC lifted its position in Nelnet by 176.5% in the 4th quarter. CWM LLC now owns 412 shares of the credit services provider’s stock valued at $36,000 after purchasing an additional 263 shares during the last quarter. New York State Common Retirement Fund lifted its position in Nelnet by 17.6% in the 4th quarter. New York State Common Retirement Fund now owns 24,727 shares of the credit services provider’s stock valued at $2,181,000 after purchasing an additional 3,708 shares during the last quarter. Finally, Anchor Capital Advisors LLC lifted its position in Nelnet by 17.3% in the 4th quarter. Anchor Capital Advisors LLC now owns 12,548 shares of the credit services provider’s stock valued at $1,107,000 after purchasing an additional 1,853 shares during 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.