Nelnet, Inc. (NYSE:NNI) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its stake in Nelnet, Inc. (NYSE:NNI) by 12.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,534 shares of the credit services provider’s stock after acquiring an additional 745 shares during the period. Victory Capital Management Inc.’s holdings in Nelnet were worth $630,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in NNI. Group One Trading L.P. acquired a new stake in Nelnet in the first quarter valued at $26,000. Ameritas Advisory Services LLC acquired a new stake in Nelnet in the first quarter valued at $28,000. Lazard Asset Management LLC acquired a new stake in Nelnet in the fourth quarter valued at $29,000. Advisor Group Holdings Inc. raised its holdings in Nelnet by 30.2% in the fourth quarter. Advisor Group Holdings Inc. now owns 715 shares of the credit services provider’s stock valued at $65,000 after acquiring an additional 166 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings 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 valued at $81,000 after acquiring an additional 491 shares in the last quarter. 33.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. StockNews.com assumed coverage on shares of Nelnet in a research note on Thursday, October 5th. They set a “hold” rating for the company. TD Cowen initiated coverage on shares of Nelnet in a research note on Wednesday. They set a “market perform” rating and a $95.00 target price for the company.

Insider Buying and Selling at Nelnet

In other Nelnet news, Director Deun Jona M. Van sold 785 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $94.40, for a total value of $74,104.00. Following the completion of the sale, the director now directly owns 531 shares of the company’s stock, valued at approximately $50,126.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Nelnet news, Director Deun Jona M. Van sold 785 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $94.40, for a total transaction of $74,104.00. Following the completion of the sale, the director now directly owns 531 shares of the company’s stock, valued at $50,126.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider William J. Munn sold 2,500 shares of the company’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $91.30, for a total transaction of $228,250.00. Following the sale, the insider now directly owns 6,663 shares of the company’s stock, valued at $608,331.90. The disclosure for this sale can be found here. 50.30% of the stock is owned by corporate insiders.

Nelnet Stock Up 3.1 %

Nelnet stock opened at $87.02 on Friday. The company has a 50-day simple moving average of $89.11 and a 200-day simple moving average of $93.60. The firm has a market capitalization of $3.25 billion, a P/E ratio of 17.10 and a beta of 0.85. The company has a debt-to-equity ratio of 4.02, a quick ratio of 51.62 and a current ratio of 51.62. Nelnet, Inc. has a one year low of $81.67 and a one year high of $101.60.

Nelnet (NYSE:NNI) last announced its earnings results on Monday, August 7th. The credit services provider reported $0.71 earnings per share (EPS) for the quarter. The firm had revenue of $298.06 million during the quarter. Nelnet had a net margin of 9.05% and a return on equity of 5.69%.

Nelnet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were given a $0.26 dividend. The ex-dividend date was Thursday, August 31st. This represents a $1.04 dividend on an annualized basis and a yield of 1.20%. Nelnet’s dividend payout ratio is presently 20.43%.

Nelnet Profile

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.