William J. Munn Sells 2,500 Shares of Nelnet, Inc. (NYSE:NNI) Stock

Nelnet, Inc. (NYSE:NNI) insider William J. Munn sold 2,500 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $108.89, for a total transaction of $272,225.00. Following the completion of the sale, the insider now directly owns 9,354 shares of the company’s stock, valued at $1,018,557.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Nelnet Trading Up 1.1 %

Shares of Nelnet stock traded up $1.25 during trading on Wednesday, hitting $110.52. The company’s stock had a trading volume of 61,340 shares, compared to its average volume of 75,499. The stock has a market cap of $4.01 billion, a price-to-earnings ratio of 36.23 and a beta of 0.92. Nelnet, Inc. has a 52 week low of $82.22 and a 52 week high of $127.32. The stock has a 50-day moving average price of $113.10 and a two-hundred day moving average price of $108.02. The company has a debt-to-equity ratio of 2.78, a current ratio of 31.47 and a quick ratio of 31.47.

Nelnet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.28 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.12 annualized dividend and a dividend yield of 1.01%. Nelnet’s payout ratio is 36.84%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on NNI shares. StockNews.com downgraded shares of Nelnet from a “buy” rating to a “hold” rating in a research report on Monday, August 12th. TD Cowen lifted their price target on shares of Nelnet from $96.00 to $98.00 and gave the company a “hold” rating in a report on Monday, August 12th.

Hedge Funds Weigh In On Nelnet

A number of hedge funds and other institutional investors have recently made changes to their positions in NNI. Renaissance Technologies LLC bought a new stake in Nelnet in the second quarter worth approximately $4,660,000. BNP Paribas Financial Markets grew its position in shares of Nelnet by 97.7% during the 1st quarter. BNP Paribas Financial Markets now owns 6,782 shares of the credit services provider’s stock worth $642,000 after buying an additional 3,352 shares during the period. SG Americas Securities LLC bought a new stake in shares of Nelnet in the 3rd quarter valued at $499,000. Bank of Montreal Can acquired a new position in shares of Nelnet during the 2nd quarter valued at $637,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Nelnet by 12.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,435 shares of the credit services provider’s stock worth $1,035,000 after acquiring an additional 1,274 shares in the last quarter. 33.51% of the stock is owned by institutional investors and hedge funds.

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.