Asset Value Investors Ltd Reduces Stock Holdings in Nelnet, Inc. (NYSE:NNI)

Asset Value Investors Ltd lessened its stake in shares of Nelnet, Inc. (NYSE:NNI) by 8.8% in the first quarter, Holdings Channel.com reports. The fund owned 8,280 shares of the credit services provider’s stock after selling 800 shares during the quarter. Nelnet comprises about 0.5% of Asset Value Investors Ltd’s holdings, making the stock its 4th biggest position. Asset Value Investors Ltd’s holdings in Nelnet were worth $916,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Handelsbanken Fonder AB boosted its holdings in shares of Nelnet by 51.0% in the fourth quarter. Handelsbanken Fonder AB now owns 3,551 shares of the credit services provider’s stock worth $379,000 after buying an additional 1,200 shares during the period. Proficio Capital Partners LLC lifted its position in shares of Nelnet by 16,773.6% in the 4th quarter. Proficio Capital Partners LLC now owns 482,247 shares of the credit services provider’s stock valued at $482,000 after acquiring an additional 479,389 shares in the last quarter. QRG Capital Management Inc. boosted its stake in Nelnet by 8.6% in the 4th quarter. QRG Capital Management Inc. now owns 4,852 shares of the credit services provider’s stock worth $518,000 after purchasing an additional 384 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Nelnet by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 201,969 shares of the credit services provider’s stock worth $21,572,000 after purchasing an additional 2,778 shares during the period. Finally, Edgestream Partners L.P. grew its position in Nelnet by 230.1% during the 4th quarter. Edgestream Partners L.P. now owns 24,797 shares of the credit services provider’s stock worth $2,649,000 after purchasing an additional 17,285 shares in the last quarter. 33.51% of the stock is owned by institutional investors.

Nelnet Trading Up 0.7%

Shares of NYSE NNI opened at $115.84 on Thursday. The company has a current ratio of 31.47, a quick ratio of 31.47 and a debt-to-equity ratio of 2.78. Nelnet, Inc. has a one year low of $97.13 and a one year high of $127.32. The business has a 50-day moving average price of $110.53 and a two-hundred day moving average price of $110.45. The firm has a market capitalization of $4.20 billion, a PE ratio of 38.11 and a beta of 0.95.

Nelnet (NYSE:NNI) last posted its quarterly earnings results on Thursday, May 8th. The credit services provider reported $2.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.92 by $0.47. Nelnet had a net margin of 5.54% and a return on equity of 3.78%. The business had revenue of $398.49 million during the quarter, compared to analyst estimates of $393.00 million. As a group, analysts predict that Nelnet, Inc. will post 4.52 earnings per share for the current fiscal year.

Nelnet declared that its board has authorized a share buyback program on Thursday, May 8th that authorizes the company to repurchase 5,000,000 outstanding shares. This repurchase authorization authorizes the credit services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Nelnet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 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 0.97%. The ex-dividend date of this dividend is Monday, June 2nd. Nelnet’s dividend payout ratio (DPR) is currently 21.17%.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Nelnet from a “hold” rating to a “buy” rating in a report on Tuesday, March 4th.

About Nelnet

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.