Nelnet (NYSE:NNI) Announces 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. Nelnet had a return on equity of 12.58% and a net margin of 18.96%.The business had revenue of $390.43 million for the quarter, compared to the consensus estimate of $382.00 million.

Nelnet Stock Performance

Shares of NYSE:NNI traded up $0.86 during midday trading on Thursday, reaching $131.61. The company had a trading volume of 72,624 shares, compared to its average volume of 89,206. The stock has a market cap of $4.73 billion, a P/E ratio of 11.06 and a beta of 0.82. The company’s 50 day moving average price is $132.99 and its 200 day moving average price is $130.24. 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 has a 52-week low of $98.15 and a 52-week high of $142.87.

Nelnet Announces Dividend

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

Insider Buying and Selling

In other Nelnet news, Director Deun Jona M. Van sold 400 shares of Nelnet stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $128.95, for a total value of $51,580.00. Following the sale, the director owned 704 shares of the company’s stock, valued at approximately $90,780.80. The trade was a 36.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 50.90% of the company’s stock.

Hedge Funds Weigh In On Nelnet

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. UBS Group AG raised its position in shares of Nelnet by 66.4% in the third quarter. UBS Group AG now owns 191,826 shares of the credit services provider’s stock worth $24,051,000 after buying an additional 76,534 shares in the last quarter. Qube Research & Technologies Ltd increased its stake in Nelnet by 66.4% in the 2nd quarter. Qube Research & Technologies Ltd now owns 96,840 shares of the credit services provider’s stock worth $11,729,000 after acquiring an additional 38,628 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of Nelnet by 421.7% in the 2nd quarter. Marshall Wace LLP now owns 46,474 shares of the credit services provider’s stock valued at $5,629,000 after acquiring an additional 37,566 shares in the last quarter. Jane Street Group LLC boosted its position in shares of Nelnet by 115.1% during the 4th quarter. Jane Street Group LLC now owns 69,711 shares of the credit services provider’s stock valued at $9,269,000 after acquiring an additional 37,300 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Nelnet by 952.7% during the third quarter. Millennium Management LLC now owns 27,992 shares of the credit services provider’s stock worth $3,510,000 after purchasing an additional 25,333 shares in the last quarter. Institutional investors own 33.51% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NNI. TD Cowen reaffirmed a “hold” rating on shares of Nelnet in a research report on Thursday, January 8th. Wall Street Zen cut Nelnet from a “strong-buy” rating to a “hold” rating in a research note on Saturday, November 15th. Finally, Zacks Research raised shares of Nelnet from a “hold” rating to a “strong-buy” rating in a report on Monday, January 12th. 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.com, the company presently has a consensus 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.