Nelnet (NYSE:NNI) Reaches New 1-Year High - Time to Buy?

Shares of Nelnet, Inc. (NYSE:NNI - Get Free Report) reached a new 52-week high on Tuesday . The company traded as high as $116.25 and last traded at $116.25, with a volume of 4376 shares. The stock had previously closed at $114.89.

Analysts Set New Price Targets

Several research firms recently issued reports on NNI. StockNews.com cut Nelnet from a "buy" rating to a "hold" rating in a report on Monday, August 12th. TD Cowen lifted their price target on shares of Nelnet from $96.00 to $98.00 and gave the stock a "hold" rating in a research report on Monday, August 12th.

Nelnet Trading Up 1.5 %

The business has a 50 day moving average of $112.86 and a 200 day moving average of $107.36. The firm has a market capitalization of $4.23 billion, a price-to-earnings ratio of 27.89 and a beta of 0.92. The company has a debt-to-equity ratio of 2.97, a current ratio of 33.51 and a quick ratio of 33.51.

Nelnet (NYSE:NNI - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The credit services provider reported $1.20 earnings per share for the quarter, missing analysts' consensus estimates of $1.33 by ($0.13). Nelnet had a net margin of 7.44% and a return on equity of 4.71%. The firm had revenue of $324.90 million during the quarter. As a group, research analysts predict that Nelnet, Inc. will post 5.82 earnings per share for the current fiscal year.

Nelnet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend was Friday, August 30th. Nelnet's payout ratio is presently 26.79%.

Institutional Investors Weigh In On Nelnet

Large investors have recently modified their holdings of the business. Covestor Ltd boosted its position in shares of Nelnet by 139.2% during the first quarter. Covestor Ltd now owns 806 shares of the credit services provider's stock worth $76,000 after buying an additional 469 shares during the period. Security National Bank of Sioux City Iowa IA bought a new position in shares of Nelnet during the 2nd quarter worth approximately $212,000. SG Americas Securities LLC acquired a new position in shares of Nelnet during the 1st quarter worth approximately $209,000. ProShare Advisors LLC bought a new stake in Nelnet in the 1st quarter valued at $220,000. Finally, Dark Forest Capital Management LP acquired a new stake in Nelnet during the 2nd quarter valued at $331,000. 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.