First Trust Advisors LP increased its position in shares of Nelnet, Inc. (NYSE:NNI) by 6.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,236 shares of the credit services provider’s stock after purchasing an additional 2,772 shares during the period. First Trust Advisors LP owned approximately 0.10% of Nelnet worth $2,183,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of NNI. FMR LLC raised its holdings in Nelnet by 24.7% during the first quarter. FMR LLC now owns 40,525 shares of the credit services provider’s stock worth $1,777,000 after purchasing an additional 8,025 shares in the last quarter. Teachers Advisors LLC raised its holdings in Nelnet by 2.2% during the first quarter. Teachers Advisors LLC now owns 45,906 shares of the credit services provider’s stock worth $2,013,000 after purchasing an additional 1,005 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Nelnet by 48.1% during the first quarter. Schwab Charles Investment Management Inc. now owns 183,193 shares of the credit services provider’s stock worth $8,035,000 after purchasing an additional 59,468 shares in the last quarter. Aperio Group LLC raised its holdings in Nelnet by 10.1% during the second quarter. Aperio Group LLC now owns 9,470 shares of the credit services provider’s stock worth $445,000 after purchasing an additional 865 shares in the last quarter. Finally, General American Investors Co. Inc. raised its holdings in Nelnet by 6.3% during the second quarter. General American Investors Co. Inc. now owns 425,000 shares of the credit services provider’s stock worth $19,979,000 after purchasing an additional 25,000 shares in the last quarter. 39.65% of the stock is owned by hedge funds and other institutional investors.
In other Nelnet news, major shareholder Angie Muhleisen sold 2,000 shares of the stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $48.38, for a total value of $96,760.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael D. Reardon sold 5,748 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $50.84, for a total transaction of $292,228.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,748 shares of company stock valued at $714,568. 46.10% of the stock is currently owned by corporate insiders.
Nelnet, Inc. (NYSE NNI) opened at $51.83 on Friday. Nelnet, Inc. has a 1-year low of $38.72 and a 1-year high of $59.68. The company has a debt-to-equity ratio of 10.44, a current ratio of 159.08 and a quick ratio of 159.08. The stock has a market cap of $2,117.05, a PE ratio of 11.89 and a beta of 1.06.
Nelnet (NYSE:NNI) last issued its earnings results on Tuesday, November 7th. The credit services provider reported $1.00 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.10 by ($0.10). Nelnet had a net margin of 17.51% and a return on equity of 8.70%. The company had revenue of $194.43 million during the quarter, compared to analysts’ expectations of $191.00 million. During the same period last year, the business posted $1.36 earnings per share. The company’s quarterly revenue was down 18.6% on a year-over-year basis.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a $0.16 dividend. The ex-dividend date is Thursday, November 30th. This is a boost from Nelnet’s previous quarterly dividend of $0.14. This represents a $0.64 dividend on an annualized basis and a yield of 1.23%. Nelnet’s dividend payout ratio (DPR) is 10.59%.
NNI has been the subject of several analyst reports. Credit Suisse Group increased their price target on shares of Nelnet from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Friday, October 20th. Compass Point raised shares of Nelnet from a “neutral” rating to a “buy” rating in a report on Thursday, October 19th. Finally, TheStreet raised shares of Nelnet from a “d+” rating to a “c” rating in a report on Tuesday, August 8th.
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Nelnet Company Profile
Nelnet, Inc focuses on delivering education-related products and services and student loan asset management. The Company is engaged in student loan servicing, tuition payment processing and school information systems, and communications. The Company’s segments include Loan Systems and Servicing, Tuition Payment Processing and Campus Commerce, Communications, Asset Generation and Management, and Corporate and Other Activities.
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