Vanguard Group Inc. Boosts Holdings in Nelnet, Inc. (NYSE:NNI)

Vanguard Group Inc. grew its position in shares of Nelnet, Inc. (NYSE:NNIFree Report) by 0.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,310,085 shares of the credit services provider’s stock after purchasing an additional 2,440 shares during the period. Vanguard Group Inc. owned approximately 3.54% of Nelnet worth $115,576,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Anchor Capital Advisors LLC increased its stake in shares of Nelnet by 17.3% in the fourth quarter. Anchor Capital Advisors LLC now owns 12,548 shares of the credit services provider’s stock worth $1,107,000 after buying an additional 1,853 shares during the last quarter. Nebula Research & Development LLC bought a new stake in shares of Nelnet in the fourth quarter worth $1,018,000. Dimensional Fund Advisors LP increased its stake in shares of Nelnet by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,076,549 shares of the credit services provider’s stock worth $183,194,000 after buying an additional 12,187 shares during the last quarter. CWM LLC increased its stake in shares of Nelnet by 176.5% in the fourth quarter. CWM LLC now owns 412 shares of the credit services provider’s stock worth $36,000 after buying an additional 263 shares during the last quarter. Finally, Bandera Partners LLC increased its stake in shares of Nelnet by 7.7% in the fourth quarter. Bandera Partners LLC now owns 120,583 shares of the credit services provider’s stock worth $10,638,000 after buying an additional 8,583 shares during the last quarter. Hedge funds and other institutional investors own 33.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. StockNews.com upgraded shares of Nelnet from a “hold” rating to a “buy” rating in a research note on Monday, May 13th. TD Cowen boosted their target price on shares of Nelnet from $90.00 to $96.00 and gave the company a “hold” rating in a research note on Tuesday, May 14th.

Read Our Latest Stock Report on Nelnet

Insider Activity

In other news, Director Kathleen Anne Farrell sold 1,700 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $101.73, for a total transaction of $172,941.00. Following the completion of the transaction, the director now owns 16,894 shares of the company’s stock, valued at $1,718,626.62. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 50.10% of the company’s stock.

Nelnet Stock Down 0.0 %

NNI stock opened at $101.84 on Friday. Nelnet, Inc. has a 1-year low of $81.67 and a 1-year high of $110.70. The firm has a market cap of $3.70 billion, a price-to-earnings ratio of 27.52 and a beta of 0.91. The company has a debt-to-equity ratio of 3.25, a current ratio of 48.33 and a quick ratio of 48.33. The firm has a fifty day moving average price of $101.93 and a two-hundred day moving average price of $93.72.

Nelnet (NYSE:NNIGet Free Report) last announced its quarterly earnings results on Thursday, May 9th. The credit services provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.44. Nelnet had a net margin of 6.54% and a return on equity of 4.17%. The company had revenue of $579.96 million during the quarter. During the same period last year, the firm posted $1.47 EPS. Research analysts predict that Nelnet, Inc. will post 6.1 EPS for the current year.

Nelnet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.10%. The ex-dividend date was Friday, May 31st. Nelnet’s dividend payout ratio (DPR) is 30.27%.

Nelnet Company 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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