Nelnet (NYSE:NNI) Issues Quarterly Earnings Results

Nelnet (NYSE:NNI) posted its earnings results on Thursday. The credit services provider reported $1.56 EPS for the quarter, missing the consensus estimate of $1.63 by ($0.07), FiscalAI reports. The firm had revenue of $390.43 million for the quarter, compared to the consensus estimate of $382.00 million. Nelnet had a return on equity of 12.58% and a net margin of 18.96%.

Nelnet Stock Performance

Shares of NNI stock traded up $0.86 during trading on Thursday, reaching $131.61. 72,624 shares of the company’s stock traded hands, compared to its average volume of 89,206. The firm’s 50-day moving average is $132.99 and its 200 day moving average is $130.24. The company has a market capitalization of $4.73 billion, a P/E ratio of 11.06 and a beta of 0.82. Nelnet has a 1 year low of $98.15 and a 1 year high of $142.87. The company has a current ratio of 28.98, a quick ratio of 28.98 and a debt-to-equity ratio of 2.18.

Nelnet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be given a $0.33 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.32 annualized dividend and a dividend yield of 1.0%. Nelnet’s payout ratio is 11.09%.

Insider Transactions at Nelnet

In other Nelnet news, Director Deun Jona M. Van sold 400 shares of the stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $128.95, for a total transaction of $51,580.00. Following the sale, the director owned 704 shares in the company, valued at $90,780.80. This represents a 36.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 50.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NNI. Tower Research Capital LLC TRC raised its position in shares of Nelnet by 6.5% in the second quarter. Tower Research Capital LLC TRC now owns 1,353 shares of the credit services provider’s stock worth $164,000 after buying an additional 83 shares in the last quarter. Captrust Financial Advisors increased its stake in Nelnet by 0.6% in the 3rd quarter. Captrust Financial Advisors now owns 16,336 shares of the credit services provider’s stock worth $2,048,000 after acquiring an additional 94 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of Nelnet by 0.6% in the 3rd quarter. Alliancebernstein L.P. now owns 19,158 shares of the credit services provider’s stock valued at $2,402,000 after acquiring an additional 121 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Nelnet by 6.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,825 shares of the credit services provider’s stock valued at $342,000 after acquiring an additional 180 shares during the last quarter. Finally, California State Teachers Retirement System boosted its position in shares of Nelnet by 1.4% during the 2nd quarter. California State Teachers Retirement System now owns 12,992 shares of the credit services provider’s stock valued at $1,574,000 after acquiring an additional 181 shares during the last quarter. 33.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Zacks Research raised Nelnet from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 12th. Wall Street Zen downgraded shares of Nelnet from a “strong-buy” rating to a “hold” rating in a report on Saturday, November 15th. Finally, TD Cowen reaffirmed a “hold” rating on shares of Nelnet in a research report on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $140.00.

Nelnet Company Profile

Nelnet, Inc (NYSE: NNI) is a diversified education services company founded in 1978 and headquartered in Lincoln, Nebraska. Originally established as the National Education Loan Network by Michael S. Dunlap, the company has grown into a prominent provider of student loan servicing and education finance solutions in the United States.

At the core of Nelnet’s business is student loan servicing, where it administers and manages federal and private education loans on behalf of borrowers and lending partners.