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

Nelnet, Inc. (NYSE:NNI) insider William J. Munn sold 2,500 shares of the 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 transaction, the insider now 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Nelnet Price Performance

Shares of NYSE:NNI opened at $109.34 on Friday. The company has a quick ratio of 31.47, a current ratio of 31.47 and a debt-to-equity ratio of 2.78. The firm has a market capitalization of $3.96 billion, a PE ratio of 35.97 and a beta of 0.92. Nelnet, Inc. has a twelve month low of $82.22 and a twelve month high of $127.32. The company has a 50-day moving average price of $112.97 and a two-hundred day moving average price of $108.15.

Nelnet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date is Monday, December 2nd. Nelnet’s payout ratio is 36.84%.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Nelnet

Institutional investors and hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC purchased a new stake in shares of Nelnet in the second quarter worth about $4,660,000. BNP Paribas Financial Markets lifted its holdings in shares of Nelnet by 97.7% in the first 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 in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Nelnet in the third quarter worth about $499,000. Bank of Montreal Can purchased a new stake in shares of Nelnet in the second quarter worth about $637,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Nelnet by 12.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,435 shares of the credit services provider’s stock valued at $1,035,000 after purchasing an additional 1,274 shares in the last quarter. 33.51% of the stock is owned by hedge funds and other 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.