Zurcher Kantonalbank Zurich Cantonalbank Increases Stock Holdings in Nelnet, Inc. (NYSE:NNI)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Nelnet, Inc. (NYSE:NNI) by 23.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,707 shares of the credit services provider’s stock after buying an additional 694 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Nelnet were worth $327,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Inspire Investing LLC raised its position in shares of Nelnet by 6.0% in the 3rd quarter. Inspire Investing LLC now owns 3,449 shares of the credit services provider’s stock valued at $308,000 after purchasing an additional 194 shares during the last quarter. D.A. Davidson & CO. grew its holdings in shares of Nelnet by 1.6% during the third quarter. D.A. Davidson & CO. now owns 17,258 shares of the credit services provider’s stock valued at $1,542,000 after buying an additional 270 shares during the last quarter. Swiss National Bank increased its position in shares of Nelnet by 0.9% in the 3rd quarter. Swiss National Bank now owns 32,200 shares of the credit services provider’s stock valued at $2,876,000 after acquiring an additional 300 shares during the period. Arizona State Retirement System raised its stake in Nelnet by 7.2% in the 4th quarter. Arizona State Retirement System now owns 4,470 shares of the credit services provider’s stock worth $394,000 after acquiring an additional 302 shares during the last quarter. Finally, Bar Harbor Wealth Management lifted its position in Nelnet by 0.9% during the 4th quarter. Bar Harbor Wealth Management now owns 105,992 shares of the credit services provider’s stock worth $9,351,000 after acquiring an additional 952 shares during the period. 33.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com cut Nelnet from a “buy” rating to a “hold” rating in a research note on Tuesday, April 16th.

Nelnet Stock Up 0.7 %

NYSE:NNI opened at $96.57 on Friday. The company has a debt-to-equity ratio of 3.67, a current ratio of 35.15 and a quick ratio of 35.15. The company’s fifty day moving average price is $91.77 and its 200-day moving average price is $88.43. Nelnet, Inc. has a 1-year low of $81.67 and a 1-year high of $101.60. The firm has a market capitalization of $3.58 billion, a P/E ratio of 39.58 and a beta of 0.84.

Nelnet (NYSE:NNI) last released its quarterly earnings data on Tuesday, February 27th. The credit services provider reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($1.19). Nelnet had a net margin of 4.43% and a return on equity of 3.81%. The company had revenue of $260.66 million for the quarter. As a group, equities research analysts anticipate that Nelnet, Inc. will post 5.15 EPS for the current year.

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.