Nelnet, Inc. (NYSE:NNI) Shares Acquired by Empyrean Capital Partners LP

Empyrean Capital Partners LP lifted its holdings in shares of Nelnet, Inc. (NYSE:NNIGet Rating) by 15.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 480,073 shares of the credit services provider’s stock after acquiring an additional 62,619 shares during the quarter. Empyrean Capital Partners LP owned about 1.27% of Nelnet worth $40,801,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NNI. Group One Trading L.P. purchased a new stake in Nelnet during the 1st quarter worth $26,000. Newbridge Financial Services Group Inc. purchased a new stake in Nelnet during the 1st quarter worth $32,000. Advisor Group Holdings Inc. increased its stake in Nelnet by 91.4% during the 4th quarter. Advisor Group Holdings Inc. now owns 934 shares of the credit services provider’s stock worth $91,000 after buying an additional 446 shares during the period. KBC Group NV increased its stake in Nelnet by 25.1% during the 1st quarter. KBC Group NV now owns 1,156 shares of the credit services provider’s stock worth $98,000 after buying an additional 232 shares during the period. Finally, Ancora Advisors LLC increased its stake in Nelnet by 15.6% during the 1st quarter. Ancora Advisors LLC now owns 1,484 shares of the credit services provider’s stock worth $108,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors own 34.21% of the company’s stock.

Analyst Ratings Changes

Separately, Credit Suisse Group dropped their price target on shares of Nelnet from $90.00 to $88.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 10th.

Nelnet Price Performance

NNI opened at $83.31 on Tuesday. The company has a 50-day moving average of $88.86 and a 200-day moving average of $85.35. The company has a market capitalization of $3.10 billion, a P/E ratio of 6.94 and a beta of 0.74. Nelnet, Inc. has a 1-year low of $72.94 and a 1-year high of $99.79. The company has a debt-to-equity ratio of 5.21, a quick ratio of 47.81 and a current ratio of 47.81.

Nelnet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend is Wednesday, August 31st. Nelnet’s payout ratio is currently 7.99%.

Nelnet Company Profile

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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.

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Institutional Ownership by Quarter for Nelnet (NYSE:NNI)

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