Russell Investments Group Ltd. lowered its stake in shares of Nelnet, Inc. (NYSE:NNI – Free Report) by 24.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,245 shares of the credit services provider’s stock after selling 1,994 shares during the quarter. Russell Investments Group Ltd.’s holdings in Nelnet were worth $565,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of NNI. Group One Trading L.P. bought a new stake in Nelnet during the first quarter worth $26,000. Ameritas Advisory Services LLC bought a new stake in Nelnet during the first quarter worth $28,000. Lazard Asset Management LLC bought a new stake in Nelnet during the fourth quarter worth $29,000. Advisor Group Holdings Inc. grew its holdings in Nelnet by 30.2% during the fourth quarter. Advisor Group Holdings Inc. now owns 715 shares of the credit services provider’s stock worth $65,000 after buying an additional 166 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in Nelnet by 91.6% in the third quarter. Tower Research Capital LLC TRC now owns 1,027 shares of the credit services provider’s stock worth $81,000 after purchasing an additional 491 shares during the last quarter. Institutional investors own 33.51% of the company’s stock.
Analysts Set New Price Targets
Separately, StockNews.com started coverage on Nelnet in a research report on Thursday, August 17th. They issued a “hold” rating on the stock.
Nelnet Stock Up 1.0 %
NNI stock opened at $92.75 on Friday. The stock’s fifty day simple moving average is $95.86 and its two-hundred day simple moving average is $94.54. The company has a current ratio of 51.62, a quick ratio of 51.62 and a debt-to-equity ratio of 4.02. Nelnet, Inc. has a 1-year low of $78.41 and a 1-year high of $101.60. The stock has a market cap of $3.46 billion, a P/E ratio of 18.22 and a beta of 0.82.
Nelnet (NYSE:NNI – Get Free Report) last posted its quarterly earnings data on Monday, August 7th. The credit services provider reported $0.71 earnings per share for the quarter. Nelnet had a return on equity of 5.69% and a net margin of 9.05%. The business had revenue of $298.06 million for the quarter.
Nelnet Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be given a dividend of $0.26 per share. The ex-dividend date is Thursday, August 31st. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.12%. Nelnet’s dividend payout ratio is presently 20.43%.
In other news, Director Deun Jona M. Van sold 785 shares of the company’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $94.40, for a total transaction of $74,104.00. Following the transaction, the director now owns 531 shares of the company’s stock, valued at approximately $50,126.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 50.30% of the company’s stock.
Nelnet, Inc engages in loan servicing, communications, education technology, services, and payment processing businesses worldwide. Its 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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