Principal Financial Group Inc. Has $373,000 Stock Position in Nelnet, Inc. (NYSE:NNI)

Principal Financial Group Inc. grew its holdings in Nelnet, Inc. (NYSE:NNIFree Report) by 3.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,233 shares of the credit services provider’s stock after acquiring an additional 141 shares during the quarter. Principal Financial Group Inc.’s holdings in Nelnet were worth $373,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. CWM LLC increased its holdings in shares of Nelnet by 176.5% during the fourth quarter. CWM LLC now owns 412 shares of the credit services provider’s stock worth $36,000 after purchasing an additional 263 shares during the period. D.A. Davidson & CO. increased its stake in Nelnet by 1.6% during the 3rd quarter. D.A. Davidson & CO. now owns 17,258 shares of the credit services provider’s stock worth $1,542,000 after acquiring an additional 270 shares during the period. Swiss National Bank raised its holdings in Nelnet by 0.9% in the 3rd quarter. Swiss National Bank now owns 32,200 shares of the credit services provider’s stock valued at $2,876,000 after acquiring an additional 300 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Nelnet by 7.2% during the 4th quarter. Arizona State Retirement System now owns 4,470 shares of the credit services provider’s stock valued at $394,000 after acquiring an additional 302 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Nelnet by 23.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,707 shares of the credit services provider’s stock worth $327,000 after purchasing an additional 694 shares in the last quarter. 33.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on NNI shares. TD Cowen upped their price objective on shares of Nelnet from $90.00 to $96.00 and gave the stock a “hold” rating in a research report on Tuesday, May 14th. StockNews.com raised shares of Nelnet from a “hold” rating to a “buy” rating in a report on Monday, May 13th.

Check Out Our Latest Research Report on NNI

Nelnet Trading Down 1.4 %

Shares of NNI opened at $101.53 on Wednesday. The company has a debt-to-equity ratio of 3.25, a quick ratio of 48.33 and a current ratio of 48.33. Nelnet, Inc. has a 52-week low of $81.67 and a 52-week high of $110.70. The firm has a market cap of $3.69 billion, a price-to-earnings ratio of 27.44 and a beta of 0.89. The business’s fifty day moving average is $98.96 and its 200-day moving average is $91.33.

Nelnet (NYSE:NNIGet Free Report) last released its earnings results on Thursday, May 9th. The credit services provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.44. Nelnet had a return on equity of 4.17% and a net margin of 6.54%. The firm had revenue of $579.96 million for the quarter. During the same quarter in the prior year, the firm earned $1.47 EPS. Equities analysts anticipate that Nelnet, Inc. will post 6 EPS for the current fiscal year.

Nelnet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be given a $0.28 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.12 dividend on an annualized basis and a yield of 1.10%. Nelnet’s dividend payout ratio is currently 30.27%.

Nelnet Profile

(Free Report)

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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