5,303 Shares in Nelnet, Inc. (NYSE:NNI) Acquired by XTX Topco Ltd

XTX Topco Ltd purchased a new position in Nelnet, Inc. (NYSE:NNI) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 5,303 shares of the credit services provider’s stock, valued at approximately $535,000.

A number of other institutional investors and hedge funds have also modified their holdings of NNI. Vanguard Group Inc. lifted its stake in Nelnet by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 1,313,570 shares of the credit services provider’s stock valued at $124,329,000 after buying an additional 3,485 shares in the last quarter. Farmers & Merchants Investments Inc. lifted its stake in Nelnet by 1.4% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 1,206,546 shares of the credit services provider’s stock valued at $114,200,000 after buying an additional 16,820 shares in the last quarter. American Century Companies Inc. lifted its stake in Nelnet by 4.9% in the 2nd quarter. American Century Companies Inc. now owns 122,055 shares of the credit services provider’s stock valued at $12,310,000 after buying an additional 5,752 shares in the last quarter. Bandera Partners LLC lifted its stake in Nelnet by 7.7% in the 4th quarter. Bandera Partners LLC now owns 120,583 shares of the credit services provider’s stock valued at $10,638,000 after buying an additional 8,583 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Nelnet by 1.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 118,046 shares of the credit services provider’s stock valued at $11,906,000 after buying an additional 1,280 shares in the last quarter. Institutional investors and hedge funds own 33.51% of the company’s stock.

Nelnet Trading Down 1.8 %

Shares of Nelnet stock opened at $111.55 on Wednesday. The company has a quick ratio of 33.51, a current ratio of 33.51 and a debt-to-equity ratio of 2.97. The firm has a market cap of $4.06 billion, a PE ratio of 30.15 and a beta of 0.92. The business’s fifty day moving average is $111.04 and its two-hundred day moving average is $103.00. Nelnet, Inc. has a fifty-two week low of $81.67 and a fifty-two week high of $116.13.

Nelnet (NYSE:NNI) last issued its earnings results on Thursday, August 8th. The credit services provider reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.13). The firm had revenue of $324.90 million during the quarter. Nelnet had a return on equity of 4.71% and a net margin of 7.44%. Analysts anticipate that Nelnet, Inc. will post 5.9 earnings per share for the current year.

Nelnet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend was Friday, August 30th. Nelnet’s dividend payout ratio (DPR) is currently 30.27%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. TD Cowen increased their price target on Nelnet from $96.00 to $98.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. StockNews.com lowered Nelnet from a “buy” rating to a “hold” rating in a research note on Monday, August 12th.

Nelnet Profile

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.