Nelnet (NYSE:NNI) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Nelnet (NYSE:NNI) from a hold rating to a buy rating in a research report sent to investors on Saturday morning.

Nelnet Stock Down 1.3 %

Nelnet stock opened at $111.40 on Friday. Nelnet has a fifty-two week low of $83.75 and a fifty-two week high of $127.32. The company has a debt-to-equity ratio of 2.78, a quick ratio of 31.47 and a current ratio of 31.47. The company has a market capitalization of $4.04 billion, a P/E ratio of 36.64 and a beta of 0.91. The stock has a 50-day simple moving average of $108.89 and a 200-day simple moving average of $110.56.

Nelnet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a $0.28 dividend. This represents a $1.12 annualized dividend 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%.

Hedge Funds Weigh In On Nelnet

Institutional investors have recently added to or reduced their stakes in the stock. Christopher J. Hasenberg Inc acquired a new position in Nelnet in the 4th quarter valued at about $38,000. Blue Trust Inc. increased its position in Nelnet by 1,293.1% during the 4th quarter. Blue Trust Inc. now owns 404 shares of the credit services provider’s stock worth $46,000 after purchasing an additional 375 shares during the period. Sterling Capital Management LLC increased its position in Nelnet by 796.0% during the 4th quarter. Sterling Capital Management LLC now owns 448 shares of the credit services provider’s stock worth $48,000 after purchasing an additional 398 shares during the period. FMR LLC increased its position in Nelnet by 20.3% during the 3rd quarter. FMR LLC now owns 556 shares of the credit services provider’s stock worth $63,000 after purchasing an additional 94 shares during the period. Finally, Man Group plc acquired a new stake in shares of Nelnet in the 4th quarter worth approximately $202,000. Institutional investors and hedge funds own 33.51% of the company’s stock.

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.