Insider Selling: Nelnet, Inc. (NYSE:NNI) Insider Sells 2,500 Shares of Stock

Nelnet, Inc. (NYSE:NNI) insider William J. Munn sold 2,500 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $108.89, for a total value of $272,225.00. Following the completion of the transaction, the insider now owns 9,354 shares in the company, valued at approximately $1,018,557.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Nelnet Stock Performance

NYSE NNI traded up $1.25 during trading on Wednesday, hitting $110.52. 61,340 shares of the company’s stock traded hands, compared to its average volume of 75,499. 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 stock has a market capitalization of $4.01 billion, a price-to-earnings ratio of 36.23 and a beta of 0.92. Nelnet, Inc. has a 12-month low of $82.22 and a 12-month high of $127.32. The business has a 50 day moving average of $113.10 and a 200-day moving average of $108.02.

Nelnet Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. FMR LLC grew its position in shares of Nelnet by 20.3% in the third quarter. FMR LLC now owns 556 shares of the credit services provider’s stock valued at $63,000 after purchasing an additional 94 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in shares of Nelnet by 0.8% in the third quarter. D.A. Davidson & CO. now owns 17,536 shares of the credit services provider’s stock worth $1,987,000 after buying an additional 136 shares in the last quarter. Kingsview Wealth Management LLC bought a new position in shares of Nelnet in the third quarter valued at approximately $2,613,000. Landscape Capital Management L.L.C. bought a new stake in Nelnet during the 3rd quarter worth approximately $288,000. Finally, Intech Investment Management LLC purchased a new stake in Nelnet in the 3rd quarter worth approximately $323,000. 33.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. TD Cowen increased their target price on Nelnet from $96.00 to $98.00 and gave the stock a “hold” rating in a report on Monday, August 12th. StockNews.com lowered Nelnet from a “buy” rating to a “hold” rating in a report on Monday, August 12th.

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.