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

Nelnet, Inc. (NYSE:NNI) saw unusually-strong trading volume on Wednesday . Approximately 73,835 shares traded hands during trading, a decline of 27% from the previous session’s volume of 101,257 shares.The stock last traded at $131.1690 and had previously closed at $131.23.

Wall Street Analysts Forecast Growth

NNI has been the subject of several research analyst reports. TD Cowen reissued a “hold” rating on shares of Nelnet in a research note on Thursday, January 8th. Zacks Research raised Nelnet from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 12th. Finally, Wall Street Zen lowered shares of Nelnet from a “strong-buy” rating to a “hold” rating in a research report on Saturday, November 15th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $140.00.

Nelnet Price Performance

The company has a quick ratio of 28.27, a current ratio of 28.27 and a debt-to-equity ratio of 2.18. The firm has a market capitalization of $4.69 billion, a price-to-earnings ratio of 11.09 and a beta of 0.82. The stock’s 50 day moving average price is $132.15 and its two-hundred day moving average price is $130.57.

Nelnet (NYSE:NNI) last released its quarterly earnings data on Thursday, February 26th. The credit services provider reported $1.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.07). Nelnet had a net margin of 18.99% and a return on equity of 12.43%. The firm had revenue of $390.43 million for the quarter, compared to analyst estimates of $382.00 million. Analysts anticipate that Nelnet, Inc. will post 4.52 EPS for the current fiscal year.

Nelnet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, February 27th. Nelnet’s payout ratio is currently 11.21%.

Hedge Funds Weigh In On Nelnet

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Nelnet by 0.3% in the third quarter. Vanguard Group Inc. now owns 1,546,041 shares of the credit services provider’s stock valued at $193,843,000 after acquiring an additional 4,819 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Nelnet by 0.4% during the 2nd quarter. Geode Capital Management LLC now owns 383,849 shares of the credit services provider’s stock valued at $46,499,000 after purchasing an additional 1,443 shares in the last quarter. Bragg Financial Advisors Inc lifted its stake in shares of Nelnet by 3.2% in the 4th quarter. Bragg Financial Advisors Inc now owns 212,618 shares of the credit services provider’s stock valued at $28,270,000 after purchasing an additional 6,620 shares during the last quarter. UBS Group AG lifted its stake in shares of Nelnet by 66.4% in the 3rd quarter. UBS Group AG now owns 191,826 shares of the credit services provider’s stock valued at $24,051,000 after purchasing an additional 76,534 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Nelnet by 7.5% in the third quarter. JPMorgan Chase & Co. now owns 185,029 shares of the credit services provider’s stock worth $23,199,000 after purchasing an additional 12,941 shares in the last quarter. Institutional investors own 33.51% of the company’s stock.

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.