Nelnet, Inc. engages in loan servicing, communications, and education technology, services, and payment processing businesses worldwide. The company's Loan Servicing and Systems is involved in loan servicing activities, such as loan conversion, application processing, borrower updates, customer service, payment processing, due diligence procedures, funds management reconciliation, and claim processing activities for student loan portfolio and third-party clients. This segment also provides student loan servicing software; business process outsourcing services specialized in contact center management, such as inbound calls, outreach campaigns and sales, and interacting with customers through multi-channels. The Education Technology, Services, and Payment Processing segment offers financial management services; assistance with financial needs assessment; school information system software that automates administrative processes; professional development and educational instruction services; and technology products that aid in teacher and student evaluations. It also offers technology and payments services, including electronic transfer and credit card processing, reporting, billing and invoicing, mobile and virtual terminal solutions, and specialized integrations to business software; and mobile first technology focused on increasing engagement, online giving, and communication for church and not-for-profit customers. Its Communications segment fiber optic service to homes and businesses for internet, television, and telephone services. Its data services include high-speed internet access; and telephone services comprise local and long distance telephone, hostedPBX, and other services. Its Asset Generation and Management segment acquires, manages, and owns loan assets. It also provides investment advisory services. The company was founded in 1978 and is headquartered in Lincoln, Nebraska.
IPO Year: 2003
Exchange: NYSE
Website: nelnet.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 11/1/2023 | $95.00 | Market Perform | TD Cowen |
| 3/2/2022 | $96.00 → $92.00 | Neutral | Credit Suisse |
| 1/13/2022 | $92.00 → $96.00 | Outperform → Neutral | Credit Suisse |
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LINCOLN, Neb., Nov. 7, 2024 /PRNewswire/ -- Nelnet (NYSE:NNI) today reported GAAP net income of $2.4 million, or $0.07 per share, for the third quarter of 2024, compared with GAAP net income of $44.4 million, or $1.18 per share, for the same period a year ago. Net income, excluding derivative market value adjustments1, was $12.4 million, or $0.34 per share, for the third quarter of 2024, compared with $42.0 million, or $1.12 per share, for the same period in 2023. The third quarter 2024 operating results included the following items. A non-cash provision expense of $29.0 million ($22.0 million after tax, or $0.60 per share) related to the company's ownership of beneficial interest in loan s
LINCOLN, Neb., Oct. 14, 2024 /PRNewswire/ -- Nelnet, Inc. (NYSE:NNI) today announced it will release earnings for the third quarter ended September 30, 2024, after the close of the New York Stock Exchange on Thursday, November 7, 2024. Upon release, additional earnings information will be available at www.nelnetinvestors.com. Learn more about Nelnet at www.nelnetinc.com. View original content:https://www.prnewswire.com/news-releases/nelnet-to-announce-third-quarter-results-302275558.html SOURCE Nelnet, Inc.
LINCOLN, Neb., Aug. 8, 2024 /PRNewswire/ -- Nelnet (NYSE:NNI) today reported GAAP net income of $45.1 million, or $1.23 per share, for the second quarter of 2024, compared with GAAP net income of $27.4 million, or $0.73 per share, for the same period a year ago. Net income, excluding derivative market value adjustments1, was $43.9 million, or $1.20 per share, for the second quarter of 2024, compared with $25.9 million, or $0.69 per share, for the same period in 2023. "The operating results and cash generation from our businesses continue to be strong in 2024," said Jeff Noordhoek, chief executive officer of Nelnet. "We are excited about our current and future opportunities, always with a c
LINCOLN, Neb., July 23, 2024 /PRNewswire/ -- FACTS®, a Nelnet company (NYSE:NNI), announced at the recent FACTS Elevate Conference the consolidation of multiple Nelnet brands into the FACTS brand. CD2 Learning, Catholic Faith Technologies, My Catholic Faith Delivered and aware3 will now be known as FACTS. Their solutions joined the FACTS family of products and services, offering customers a comprehensive suite of solutions to elevate education and learning. In support of this brand consolidation, FACTS unveiled a new website designed to represent its expanded set of products and services. FACTS' core offerings are defined as education technology, education services and financial management
Discover Financial Services (NYSE:DFS) announced today that Discover Bank ("Discover") has entered into an agreement to sell its private student loan portfolio to one or more strategic partnerships comprised of investment vehicles and accounts managed by Carlyle (NASDAQ:CG) and KKR (NYSE:KKR) , with Firstmark Services, a division of Nelnet (NYSE:NNI), assuming responsibility for servicing the portfolio upon the sale. As of June 30, 2024, the principal balance of the private student loan portfolio was approximately $10.1 billion. The purchase price payable to Discover in the transaction is at a premium to the principal balance of the private student loan portfolio and, based on certain ass
LINCOLN, Neb., July 11, 2024 /PRNewswire/ -- Nelnet, Inc. (NYSE:NNI) today announced it will release earnings for the second quarter ended June 30, 2024, after the close of the New York Stock Exchange on Thursday, August 8, 2024. Upon release, additional earnings information will be available at www.nelnetinvestors.com. Learn more about Nelnet at www.nelnetinc.com. View original content:https://www.prnewswire.com/news-releases/nelnet-to-announce-second-quarter-results-302195224.html SOURCE Nelnet, Inc.
LINCOLN, Neb., May 9, 2024 /PRNewswire/ -- Nelnet (NYSE:NNI) today reported GAAP net income of $73.2 million, or $1.97 per share, for the first quarter of 2024, compared with GAAP net income of $26.5 million, or $0.71 per share, for the same period a year ago. Net income, excluding derivative market value adjustments[1], was $67.2 million, or $1.81 per share, for the first quarter of 2024, compared with $54.9 million, or $1.47 per share, for the same period in 2023. "We are extremely pleased with the results of the first quarter," said Jeff Noordhoek, chief executive officer of Nelnet. "Our core businesses performed well in an uncertain environment. We continue to look for market opportunit
LINCOLN, Neb., April 17, 2024 /PRNewswire/ -- Nelnet, Inc. (NYSE:NNI) today announced it will release earnings for the first quarter ended March 31, 2024, after the close of the New York Stock Exchange on Thursday, May 9, 2024. Upon release, additional earnings information will be available at www.nelnetinvestors.com. Learn more about Nelnet at www.nelnetinc.com. View original content:https://www.prnewswire.com/news-releases/nelnet-to-announce-first-quarter-results-302119886.html SOURCE Nelnet
LINCOLN, Neb., April 12, 2024 /PRNewswire/ -- Nelnet Renewable Energy today announced a strategic shift in its solar engineering, procurement, and construction (EPC) operations to focus exclusively on the commercial solar market. This decision underscores the company's commitment to leveraging its technical and project management strengths in a market that has shown robust growth potential and aligns with its long-term vision for sustainability, operational excellence, profitability, and energy innovation. "Nelnet is committed to being an industry leading commercial solar EPC contractor and consultant with resources, knowledge, and people to deliver high quality projects and solutions for
NEW YORK, April 11, 2024 /PRNewswire/ -- Sunrock Distributed Generation, a commercial solar and clean energy development and management platform, announces today its tax equity partnership with Nelnet, Inc. (NYSE:NNI), marking a significant step towards enhancing energy sustainability, building power grid resiliency, and reducing carbon emissions in local communities. The partnership combines the extensive expertise of Sunrock and Nelnet to finance and construct ongoing portfolios of distributed generation assets across several states including California, Illinois, New Jersey
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LINCOLN, Neb., June 1, 2022 /PRNewswire/ -- FACTS, a division of Nelnet, Inc. (NYSE:NNI), today announced the appointment of Dan Hughes as national sales director, K–12, effective June 1. Hughes most recently served as FACTS' regional director, east region. "Dan is a true champion for FACTS' mission and has years of first-hand knowledge of the K–12 market in which we operate. He has a strong vision for the future of FACTS and the leadership skills necessary to help his team reach new heights, which makes him an ideal fit for this role," said Scott Spethman, president of FACTS. Hughes has over 20 years of K–12 sales experience, serving as national sales director at Tuition Management Systems
LINCOLN, Neb., March 17, 2022 /PRNewswire/ -- Nelnet (NYSE:NNI) announced today that its board of directors has been expanded to 10 members and enhanced with the appointments of Jona Van Deun, Adam Peterson, and Matthew Dunlap. "We are proud to add three new members to our board of directors," said Mike Dunlap, executive chairman of Nelnet. "Jona, Adam, and Matthew each bring fresh perspectives, their own areas of expertise, and a commitment to Nelnet's values, goals, and services." With an extensive background in politics and public affairs, Van Deun formerly served as the vice president of small business coalitions and engagement for the United States Chamber of Commerce and the director o
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A federal appeals court has blocked President Joe Biden’s administration from implementing its Saving on a Valuable Education (SAVE) student debt relief plan. The Details: The St. Louis-based 8th U.S. Circuit Court of Appeals granted a request by seven states to put on hold parts of the U.S. Department of Education’s debt relief plan. Combined with a previous ruling last month by U.S. District Judge John Ross in St. Louis, the entire SAVE plan is now blocked from being implemented as the legal process continues. “Appellants’ emergency motion for an administrative stay prohibiting the appellees from implementing or acting pursuant to the Final Rule until this Court rules on the appell
Discover Financial Services (NYSE:DFS) shares are trading higher today after the company reported better-than-expected second-quarter EPS results yesterday. The company reported GAAP earnings of $6.06 per share, beating the estimate of $3.07 per share, and quarterly Net Interest Income (NII) of $3.524 billion. RBC Capital Markets analyst Jon G. Arfstrom says the stock’s performance (Sector Perform, with a $140 price target) is likely to be influenced primarily by the pending merger with Capital One Financial Corporation (NYSE:COF), with the expectation that the acquisition will eventually be completed. Concurrently, Discover is progressing independently by addressing regulatory and
SoFi Technologies, Inc. (NASDAQ:SOFI) shares are trading mostly flat Thursday. The stock has climbed more than 20% over the past month on investors' optimism for rate cuts in the near-term. What To Know: There have also been several recent developments regarding student loans. The Biden Administration announced Thursday that it will forgive an additional $1.2 billion in student loans for 35,000 public service workers through its Public Service Loan Forgiveness (PSLF) program. Read Next: Discover Reports Better-Than-Expected Q2 Results: Here’s The Details Discover Financial Services (NYSE:DFS) announced Wednesday that it has entered into an agreement to sell its private student l
TD Cowen analyst Moshe Orenbuch maintains Nelnet (NYSE:NNI) with a Hold and raises the price target from $90 to $96.
U.S. stocks were mostly higher, with the Dow Jones gaining over 100 points on Friday. Shares of Genpact Limited (NYSE:G) rose sharply during Friday's session after the company reported better-than-expected first-quarter financial results and raised its FY24 EPS range. Genpact posted adjusted earnings of 73 cents per share, beating market estimates of 68 cents per share. The company's quarterly sales came in at $1.13 billion versus expectations of $1.11 billion, according to data from Benzinga Pro. Genpact shares gained 6.8% to $34.26 on Friday. Here are some other big stocks recording gains in today's session. Novavax, Inc. (NASDAQ:NVAX) shares gained 139% to $10.73 after the
Nelnet (NYSE:NNI) reported quarterly earnings of $1.81 per share which beat the analyst consensus estimate of $1.38 by 31.16 percent.
President Joe Biden is canceling yet another round of student loan debt amounting to more than $7.4 billion. What Happened: Roughly another 277,000 borrowers, especially public sector workers, are expected to benefit from the revised plan. Among the changes that are a part of the SAVE (Saving on a Valuable Education) plan, include: An income-driven repayment (IDR) plan, which bases monthly payment on income and family size. Payments will now be based on a smaller portion of adjusted gross income. If you make your full monthly payment, but it is not enough to cover the accrued monthly interest, the government covers the rest of the interest that accrued that month. This
Sunrock Distributed Generation, a commercial solar and clean energy development and management platform, announces today its tax equity partnership with Nelnet, Inc. (NYSE:NNI), marking a significant step towards enhancing energy sustainability, building power grid resiliency, and reducing carbon emissions in local communities.The partnership combines the extensive expertise of Sunrock and Nelnet to finance and construct ongoing portfolios of distributed generation assets across several states including California, Illinois, New Jersey, and New York. The construction of initial projects is already underway.Wilson Chang, CEO of Sunrock, comments, "Sunrock is thrilled to announce our financing
LINCOLN, Neb., Nov. 7, 2024 /PRNewswire/ -- Nelnet (NYSE:NNI) today reported GAAP net income of $2.4 million, or $0.07 per share, for the third quarter of 2024, compared with GAAP net income of $44.4 million, or $1.18 per share, for the same period a year ago. Net income, excluding derivative market value adjustments1, was $12.4 million, or $0.34 per share, for the third quarter of 2024, compared with $42.0 million, or $1.12 per share, for the same period in 2023. The third quarter 2024 operating results included the following items. A non-cash provision expense of $29.0 million ($22.0 million after tax, or $0.60 per share) related to the company's ownership of beneficial interest in loan s
LINCOLN, Neb., Aug. 8, 2024 /PRNewswire/ -- Nelnet (NYSE:NNI) today reported GAAP net income of $45.1 million, or $1.23 per share, for the second quarter of 2024, compared with GAAP net income of $27.4 million, or $0.73 per share, for the same period a year ago. Net income, excluding derivative market value adjustments1, was $43.9 million, or $1.20 per share, for the second quarter of 2024, compared with $25.9 million, or $0.69 per share, for the same period in 2023. "The operating results and cash generation from our businesses continue to be strong in 2024," said Jeff Noordhoek, chief executive officer of Nelnet. "We are excited about our current and future opportunities, always with a c
LINCOLN, Neb., May 9, 2024 /PRNewswire/ -- Nelnet (NYSE:NNI) today reported GAAP net income of $73.2 million, or $1.97 per share, for the first quarter of 2024, compared with GAAP net income of $26.5 million, or $0.71 per share, for the same period a year ago. Net income, excluding derivative market value adjustments[1], was $67.2 million, or $1.81 per share, for the first quarter of 2024, compared with $54.9 million, or $1.47 per share, for the same period in 2023. "We are extremely pleased with the results of the first quarter," said Jeff Noordhoek, chief executive officer of Nelnet. "Our core businesses performed well in an uncertain environment. We continue to look for market opportunit
LINCOLN, Neb., Feb. 1, 2024 /PRNewswire/ -- Nelnet, Inc. (NYSE:NNI) today announced the Nelnet Board of Directors declared a first quarter cash dividend on the company's outstanding shares of Class A common stock and Class B common stock of $0.28 per share. The dividend will be paid on Friday, March 15, 2024, to shareholders of record at the close of business on Friday, March 1, 2024. The company also announced it will release earnings for the fourth quarter and year ended December 31, 2023, after the close of the New York Stock Exchange on Tuesday, February 27, 2024. Upon release, additional earnings information will be available at www.nelnetinvestors.com. Learn more about Nelnet at www.n
LINCOLN, Neb., Aug. 7, 2023 /PRNewswire/ -- Nelnet (NYSE:NNI) today reported GAAP net income of $28.3 million, or $0.75 per share, for the second quarter of 2023, compared with GAAP net income of $85.1 million, or $2.26 per share, for the same period a year ago. Net income, excluding derivative market value adjustments1, was $26.7 million, or $0.71 per share, for the second quarter of 2023, compared with $54.4 million, or $1.44 per share, for the same period in 2022. In April 2023, the company redeemed certain loan asset-backed debt securities (bonds and notes payable) prior to their maturity. The remaining unamortized debt discount associated with these bonds at the time of redemption was w
LINCOLN, Neb., May 8, 2023 /PRNewswire/ -- Nelnet (NYSE:NNI) today reported GAAP net income of $26.5 million, or $0.71 per share, for the first quarter of 2023, compared with GAAP net income of $186.6 million, or $4.91 per share, for the same period a year ago. Net income, excluding derivative market value adjustments1, was $54.9 million, or $1.47 per share, for the first quarter of 2023, compared with $75.9 million, or $1.99 per share, for the same period in 2022. "The results of the first quarter positions Nelnet for a bright future," said Jeff Noordhoek, chief executive officer of Nelnet. "We believe Nelnet has the financial strength and liquidity to continue investing in our core busines
LINCOLN, Neb., Feb. 1, 2023 /PRNewswire/ -- Nelnet, Inc. (NYSE:NNI) today announced the Nelnet Board of Directors declared a first quarter cash dividend on the company's outstanding shares of Class A common stock and Class B common stock of $0.26 per share. The dividend will be paid on Wednesday, March 15, 2023, to shareholders of record at the close of business on Wednesday, March 1, 2023. The company also announced it will release earnings for the fourth quarter and year ended December 31, 2022, after the close of the New York Stock Exchange on Tuesday, February 28, 2023. Upon release, additional earnings information will be available at www.nelnetinvestors.com. Learn more about Nelnet at
LINCOLN, Neb., Nov. 7, 2022 /PRNewswire/ -- Nelnet (NYSE:NNI) today reported GAAP net income of $104.8 million, or $2.80 per share, for the third quarter of 2022, compared with GAAP net income of $53.1 million, or $1.38 per share, for the same period a year ago. Net income, excluding derivative market value adjustments1, was $64.5 million, or $1.73 per share, for the third quarter of 2022, compared with $47.6 million, or $1.23 per share, for the same period in 2021. "During the third quarter, each of our core businesses performed at a high level and delivered strong results," said Jeff Noordhoek, chief executive officer of Nelnet. "Across Nelnet, our purpose is to serve. While there is a lot
LINCOLN, Neb., Aug. 8, 2022 /PRNewswire/ -- Nelnet (NYSE:NNI) today reported GAAP net income of $85.1 million, or $2.26 per share, for the second quarter of 2022, compared with GAAP net income of $83.9 million, or $2.16 per share, for the same period a year ago. Net income, excluding derivative market value adjustments1, was $54.4 million, or $1.44 per share, for the second quarter of 2022, compared with $85.1 million, or $2.20 per share, for the same period in 2021. "Our strong second quarter results reflect our long-term focus," said Jeff Noordhoek, chief executive officer of Nelnet. "In the quarter, we made several investments for long-term growth and value creation, including product and
LINCOLN, Neb. , July 5, 2022 /PRNewswire/ -- Nelnet (NYSE:NNI) announced today a controlling investment in affiliates of GRNE Solutions, LLC (GRNE), known as GRNE Solar, a leading Midwest solar engineering, procurement, and construction (EPC) firm. In addition, Nelnet acquired certain solar assets from an affiliate of GRNE, some already generating power and others currently being constructed. The transaction closed July 1, 2022. GRNE designs and installs residential, commercial and utility-scale solar systems in Illinois, Indiana, Iowa, Nebraska, Missouri and soon in Colorado. Its solar projects typically generate between 1 megawatt (MW) to 5 MWs of power. GRNE also offers battery backup, el
TD Cowen initiated coverage of Nelnet with a rating of Market Perform and set a new price target of $95.00
Credit Suisse reiterated coverage of Nelnet with a rating of Neutral and set a new price target of $92.00 from $96.00 previously
Credit Suisse downgraded Nelnet from Outperform to Neutral and set a new price target of $96.00 from $92.00 previously