Nelnet (NYSE:NNI) Share Price Crosses Above 200-Day Moving Average of $87.80

Nelnet, Inc. (NYSE:NNI)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $87.80 and traded as high as $94.99. Nelnet shares last traded at $94.59, with a volume of 95,278 shares.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Nelnet from a “buy” rating to a “hold” rating in a research note on Friday, April 5th.

Nelnet Stock Up 0.2 %

The company has a debt-to-equity ratio of 3.67, a current ratio of 35.15 and a quick ratio of 35.15. The business has a 50 day moving average price of $90.22 and a 200 day moving average price of $87.79. The firm has a market capitalization of $3.50 billion, a P/E ratio of 38.75 and a beta of 0.86.

Nelnet (NYSE:NNI) last issued its quarterly earnings results on Tuesday, February 27th. The credit services provider reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($1.19). Nelnet had a net margin of 4.43% and a return on equity of 3.81%. The firm had revenue of $260.66 million for the quarter. On average, analysts predict that Nelnet, Inc. will post 5.15 earnings per share for the current year.

Nelnet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $0.28 per share. The ex-dividend date was Thursday, February 29th. This represents a $1.12 annualized dividend and a yield of 1.18%. Nelnet’s dividend payout ratio is 45.90%.

Hedge Funds Weigh In On Nelnet

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in Nelnet by 0.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,076,549 shares of the credit services provider’s stock valued at $183,194,000 after acquiring an additional 12,187 shares during the period. BlackRock Inc. grew its stake in shares of Nelnet by 2.0% in the 2nd quarter. BlackRock Inc. now owns 1,083,584 shares of the credit services provider’s stock valued at $104,544,000 after purchasing an additional 21,038 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Nelnet by 8,395.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 751,009 shares of the credit services provider’s stock valued at $734,000 after purchasing an additional 742,169 shares during the period. State Street Corp grew its stake in shares of Nelnet by 2.4% in the 1st quarter. State Street Corp now owns 356,301 shares of the credit services provider’s stock valued at $30,282,000 after purchasing an additional 8,434 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Nelnet by 2.8% in the 2nd quarter. Geode Capital Management LLC now owns 318,107 shares of the credit services provider’s stock valued at $30,691,000 after purchasing an additional 8,769 shares during the period. 33.51% of the stock is currently owned by institutional investors.

About Nelnet

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.