Nelnet (NYSE:NNI) Downgraded to Hold Rating by StockNews.com

StockNews.com lowered shares of Nelnet (NYSE:NNI - Free Report) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.

Nelnet Stock Down 1.1 %

NNI traded down $1.20 on Tuesday, hitting $111.27. The company had a trading volume of 28,742 shares, compared to its average volume of 37,924. Nelnet has a 52-week low of $83.75 and a 52-week high of $127.32. The stock has a fifty day simple moving average of $108.03 and a 200-day simple moving average of $110.34. The company has a debt-to-equity ratio of 2.78, a current ratio of 31.47 and a quick ratio of 31.47. The firm has a market capitalization of $4.04 billion, a P/E ratio of 36.60 and a beta of 0.91.

Nelnet (NYSE:NNI - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The credit services provider reported $0.34 earnings per share for the quarter, missing the consensus estimate of $1.36 by ($1.02). The firm had revenue of $477.80 million for the quarter. Nelnet had a net margin of 5.54% and a return on equity of 3.78%. During the same quarter in the previous year, the company earned $1.15 EPS. As a group, equities analysts expect that Nelnet will post 4.52 EPS for the current fiscal year.

Nelnet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend is Friday, February 28th. Nelnet's dividend payout ratio (DPR) is presently 36.84%.

Insider Activity

In other Nelnet news, insider William J. Munn sold 2,500 shares of Nelnet stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $108.89, for a total value of $272,225.00. Following the completion of the transaction, the insider now directly owns 9,354 shares of the company's stock, valued at approximately $1,018,557.06. The trade was a 21.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 50.10% of the company's stock.

Hedge Funds Weigh In On Nelnet

Hedge funds have recently added to or reduced their stakes in the company. HighTower Advisors LLC raised its stake in shares of Nelnet by 25.1% in the fourth quarter. HighTower Advisors LLC now owns 76,896 shares of the credit services provider's stock worth $8,213,000 after purchasing an additional 15,445 shares during the last quarter. Edgestream Partners L.P. boosted its holdings in shares of Nelnet by 230.1% during the 4th quarter. Edgestream Partners L.P. now owns 24,797 shares of the credit services provider's stock valued at $2,649,000 after acquiring an additional 17,285 shares during the last quarter. Proficio Capital Partners LLC boosted its holdings in shares of Nelnet by 58.0% during the 4th quarter. Proficio Capital Partners LLC now owns 4,515 shares of the credit services provider's stock valued at $482,000 after acquiring an additional 1,657 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Nelnet by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 201,969 shares of the credit services provider's stock worth $21,572,000 after acquiring an additional 2,778 shares during the period. Finally, QRG Capital Management Inc. raised its holdings in shares of Nelnet by 8.6% during the fourth quarter. QRG Capital Management Inc. now owns 4,852 shares of the credit services provider's stock valued at $518,000 after purchasing an additional 384 shares during the last quarter. 33.51% of the stock is currently owned by hedge funds and other institutional investors.

Nelnet Company Profile

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.