A number of other research analysts also recently issued reports on NNI. TheStreet downgraded Nelnet from a b- rating to a c rating in a report on Thursday, November 9th. TD Cowen initiated coverage on Nelnet in a research report on Wednesday, November 1st. They set a market perform rating and a $95.00 price objective on the stock.
Nelnet Price Performance
Nelnet Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Friday, March 1st will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Thursday, February 29th. Nelnet’s dividend payout ratio (DPR) is presently 32.00%.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in NNI. Group One Trading L.P. purchased a new stake in Nelnet in the 1st quarter worth about $26,000. MetLife Investment Management LLC increased its position in shares of Nelnet by 57.4% during the first quarter. MetLife Investment Management LLC now owns 9,391 shares of the credit services provider’s stock worth $798,000 after acquiring an additional 3,424 shares during the period. Ergoteles LLC purchased a new position in shares of Nelnet during the first quarter worth approximately $1,300,000. Guardian Wealth Management Inc. increased its position in shares of Nelnet by 3.9% during the first quarter. Guardian Wealth Management Inc. now owns 20,480 shares of the credit services provider’s stock worth $1,741,000 after acquiring an additional 777 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Nelnet by 3.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 205,780 shares of the credit services provider’s stock worth $17,490,000 after acquiring an additional 7,144 shares during the period. Institutional investors own 33.51% of the company’s stock.
Nelnet, Inc engages in loan servicing, communications, education technology, services, and payment processing businesses worldwide. Its 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.
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