SG Americas Securities LLC Sells 6,444 Shares of Nelnet, Inc. $NNI

SG Americas Securities LLC trimmed its holdings in Nelnet, Inc. (NYSE:NNI) by 53.7% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 5,548 shares of the credit services provider’s stock after selling 6,444 shares during the quarter. SG Americas Securities LLC’s holdings in Nelnet were worth $715,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NNI. Rossby Financial LCC acquired a new stake in Nelnet in the 4th quarter valued at about $27,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Nelnet during the fourth quarter valued at approximately $31,000. Osaic Holdings Inc. increased its holdings in shares of Nelnet by 170.3% in the second quarter. Osaic Holdings Inc. now owns 373 shares of the credit services provider’s stock valued at $45,000 after purchasing an additional 235 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in Nelnet in the 4th quarter worth approximately $59,000. Finally, State of Wyoming bought a new position in Nelnet in the 2nd quarter valued at $62,000. Institutional investors and hedge funds own 33.51% of the company’s stock.

Nelnet Stock Down 0.1%

Shares of NNI traded down $0.13 on Tuesday, hitting $134.18. The company’s stock had a trading volume of 1,420 shares, compared to its average volume of 134,248. The company has a quick ratio of 24.07, a current ratio of 24.07 and a debt-to-equity ratio of 2.14. The firm’s fifty day moving average price is $131.46 and its 200-day moving average price is $132.18. Nelnet, Inc. has a fifty-two week low of $116.62 and a fifty-two week high of $144.38. The firm has a market capitalization of $4.82 billion, a price-to-earnings ratio of 11.73 and a beta of 0.78.

Nelnet (NYSE:NNI) last announced its earnings results on Thursday, May 7th. The credit services provider reported $1.94 EPS for the quarter, missing the consensus estimate of $2.66 by ($0.72). Nelnet had a return on equity of 11.73% and a net margin of 18.45%.The company had revenue of $419.06 million for the quarter, compared to analyst estimates of $443.84 million. On average, equities research analysts expect that Nelnet, Inc. will post 8.6 EPS for the current year.

Nelnet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a $0.33 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.32 dividend on an annualized basis and a yield of 1.0%. Nelnet’s dividend payout ratio is presently 11.50%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Zacks Research lowered Nelnet from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Weiss Ratings raised Nelnet from a “hold (c)” rating to a “buy (b)” rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $140.00.

Nelnet Company Profile

Nelnet, Inc (NYSE: NNI) is a diversified education services company founded in 1978 and headquartered in Lincoln, Nebraska. Originally established as the National Education Loan Network by Michael S. Dunlap, the company has grown into a prominent provider of student loan servicing and education finance solutions in the United States.

At the core of Nelnet’s business is student loan servicing, where it administers and manages federal and private education loans on behalf of borrowers and lending partners.