Nelnet, Inc. (NYSE:NNI) Shares Acquired by Wells Fargo & Company MN

Wells Fargo & Company MN raised its stake in Nelnet, Inc. (NYSE:NNI) by 23.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,214 shares of the credit services provider’s stock after buying an additional 1,776 shares during the quarter. Wells Fargo & Company MN’s holdings in Nelnet were worth $984,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc bought a new stake in Nelnet during the 4th quarter valued at approximately $38,000. Blue Trust Inc. lifted its holdings in shares of Nelnet by 1,293.1% during the 4th quarter. Blue Trust Inc. now owns 404 shares of the credit services provider’s stock valued at $46,000 after purchasing an additional 375 shares in the last quarter. Venator Management LLC bought a new stake in Nelnet during the fourth quarter worth about $214,000. EntryPoint Capital LLC acquired a new position in shares of Nelnet during the 4th quarter worth approximately $223,000. Finally, Handelsbanken Fonder AB increased its stake in shares of Nelnet by 51.0% during the fourth quarter. Handelsbanken Fonder AB now owns 3,551 shares of the credit services provider’s stock worth $379,000 after purchasing an additional 1,200 shares during the period. 33.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Nelnet from a “hold” rating to a “buy” rating in a report on Tuesday, March 4th.

Nelnet Trading Up 0.6 %

NNI opened at $107.25 on Wednesday. Nelnet, Inc. has a fifty-two week low of $93.69 and a fifty-two week high of $127.32. The company has a debt-to-equity ratio of 2.78, a current ratio of 31.47 and a quick ratio of 31.47. The firm has a market capitalization of $3.89 billion, a PE ratio of 35.28 and a beta of 0.88. The company’s 50-day moving average is $110.56 and its 200 day moving average is $110.17.

Nelnet (NYSE:NNI) last issued its earnings results on Thursday, February 27th. The credit services provider reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.21. The business had revenue of $401.61 million for the quarter, compared to analysts’ expectations of $335.00 million. Nelnet had a net margin of 5.54% and a return on equity of 3.78%. As a group, research analysts predict that Nelnet, Inc. will post 4.52 earnings per share for the current fiscal year.

Nelnet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend was Friday, February 28th. Nelnet’s payout ratio is currently 22.40%.

About Nelnet

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.