Nelnet (NYSE:NNI) Stock Price Target Lowered at TD Cowen

Nelnet (NYSE:NNI) had its target price cut by TD Cowen from $130.00 to $125.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a hold rating on the credit services provider’s stock.

A number of other analysts have also weighed in on the stock. Zacks Research lowered shares of Nelnet from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 8th. Weiss Ratings downgraded shares of Nelnet from a “buy (b)” rating to a “hold (c+)” rating in a report on Wednesday, August 12th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $125.00.

Nelnet Stock Down 0.6%

NNI stock opened at $124.22 on Tuesday. The firm has a 50-day moving average price of $127.59 and a 200-day moving average price of $130.44. Nelnet has a 12 month low of $116.62 and a 12 month high of $144.38. The company has a current ratio of 15.89, a quick ratio of 15.89 and a debt-to-equity ratio of 1.94. The stock has a market capitalization of $4.44 billion, a P/E ratio of 14.86 and a beta of 0.77.

Nelnet (NYSE:NNI) last announced its quarterly earnings results on Thursday, August 6th. The credit services provider reported $1.77 earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 14.35% and a return on equity of 8.26%. As a group, equities research analysts anticipate that Nelnet will post 7.5 EPS for the current fiscal year.

Nelnet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were paid a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $1.32 annualized dividend and a dividend yield of 1.1%. Nelnet’s dividend payout ratio is currently 15.79%.

Institutional Investors Weigh In On Nelnet

Hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd acquired a new position in Nelnet in the 4th quarter valued at approximately $31,000. Ameritas Advisory Services LLC acquired a new position in shares of Nelnet during the second quarter worth $33,000. Integrated Wealth Concepts LLC acquired a new position in shares of Nelnet during the second quarter worth $38,000. EverSource Wealth Advisors LLC grew its stake in shares of Nelnet by 51.4% in the first quarter. EverSource Wealth Advisors LLC now owns 445 shares of the credit services provider’s stock worth $57,000 after purchasing an additional 151 shares during the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of Nelnet by 144.2% in the second quarter. Versant Capital Management Inc now owns 591 shares of the credit services provider’s stock worth $79,000 after purchasing an additional 349 shares during the last quarter. 33.51% of the stock is currently owned by institutional investors and hedge funds.

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.