Nelnet, Inc. (NYSE:NNI) announced its quarterly earnings results on Monday. The credit services provider reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.24 by $0.01. Nelnet had a net margin of 20.23% and a return on equity of 11.83%. The business had revenue of $183.82 million for the quarter, compared to analyst estimates of $191.87 million. During the same period in the prior year, the business earned $1.43 EPS. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year.
Nelnet (NYSE:NNI) traded down 0.50% during midday trading on Friday, hitting $39.97. The stock had a trading volume of 69,215 shares. The company has a 50-day moving average price of $43.93 and a 200-day moving average price of $47.23. Nelnet has a 52 week low of $31.49 and a 52 week high of $55.01. The stock has a market cap of $1.69 billion, a P/E ratio of 6.56 and a beta of 1.07.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date is Tuesday, May 30th. Nelnet’s dividend payout ratio is currently 10.07%.
Several equities research analysts have issued reports on NNI shares. Credit Suisse Group AG downgraded Nelnet from an “outperform” rating to a “neutral” rating in a report on Tuesday, January 31st. TheStreet downgraded Nelnet from a “c-” rating to a “d+” rating in a report on Thursday, March 23rd.
In other news, insider William J. Munn sold 998 shares of Nelnet stock in a transaction dated Thursday, April 20th. The shares were sold at an average price of $45.00, for a total value of $44,910.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 45.40% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. increased its stake in shares of Nelnet by 2.0% in the first quarter. Victory Capital Management Inc. now owns 2,640 shares of the credit services provider’s stock valued at $116,000 after buying an additional 53 shares in the last quarter. Creative Planning increased its stake in shares of Nelnet by 1.5% in the first quarter. Creative Planning now owns 3,046 shares of the credit services provider’s stock valued at $134,000 after buying an additional 46 shares in the last quarter. TFS Capital LLC purchased a new stake in shares of Nelnet during the first quarter valued at $277,000. BlackRock Inc. increased its stake in shares of Nelnet by 25.1% in the third quarter. BlackRock Inc. now owns 6,887 shares of the credit services provider’s stock valued at $278,000 after buying an additional 1,381 shares in the last quarter. Finally, Trexquant Investment LP purchased a new stake in shares of Nelnet during the fourth quarter valued at $290,000. Hedge funds and other institutional investors own 41.40% of the company’s stock.
Nelnet Company Profile
Nelnet, Inc focuses on delivering education-related products and services and student loan asset management. The Company is engaged in student loan servicing, tuition payment processing and school information systems, and communications. The Company’s segments include Loan Systems and Servicing, Tuition Payment Processing and Campus Commerce, Communications, Asset Generation and Management, and Corporate and Other Activities.
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