Deutsche Bank AG Decreases Stock Position in Nelnet, Inc. (NYSE:NNI)

Deutsche Bank AG reduced its position in Nelnet, Inc. (NYSE:NNI) by 72.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,645 shares of the credit services provider’s stock after selling 33,643 shares during the period. Deutsche Bank AG’s holdings in Nelnet were worth $1,351,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its stake in 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 buying an additional 375 shares during the last quarter. Sterling Capital Management LLC raised its stake in Nelnet by 796.0% during the 4th quarter. Sterling Capital Management LLC now owns 448 shares of the credit services provider’s stock valued at $48,000 after buying an additional 398 shares during the last quarter. Venator Management LLC purchased a new stake in Nelnet during the 4th quarter valued at $214,000. EntryPoint Capital LLC purchased a new stake in Nelnet during the 4th quarter valued at $223,000. Finally, Dark Forest Capital Management LP bought a new stake in shares of Nelnet during the 4th quarter valued at $228,000. 33.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Nelnet from a “hold” rating to a “buy” rating in a research report on Tuesday, March 4th.

Nelnet Trading Up 0.3%

Shares of NNI stock opened at $114.35 on Friday. The company has a market cap of $4.15 billion, a price-to-earnings ratio of 37.61 and a beta of 0.93. 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 fifty day moving average price of $109.44 and a 200-day moving average price of $109.94. Nelnet, Inc. has a 1 year low of $97.13 and a 1 year high of $127.32.

Nelnet (NYSE:NNI) last issued its earnings results on Thursday, May 8th. The credit services provider reported $2.39 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.47. The company had revenue of $398.49 million during the quarter, compared to the consensus estimate of $393.00 million. Nelnet had a net margin of 5.54% and a return on equity of 3.78%. As a group, equities analysts predict that Nelnet, Inc. will post 4.52 earnings per share for the current year.

Nelnet declared that its board has approved a stock repurchase plan on Thursday, May 8th that authorizes the company to buyback 5,000,000 shares. This buyback authorization authorizes the credit services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

Nelnet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend is Monday, June 2nd. Nelnet’s dividend payout ratio (DPR) is presently 21.17%.

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.