3,900 Shares in Nelnet, Inc. (NYSE:NNI) Bought by Two Sigma Investments LP

Two Sigma Investments LP bought a new stake in Nelnet, Inc. (NYSE:NNI) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,900 shares of the credit services provider’s stock, valued at approximately $417,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NNI. State of Wyoming boosted its holdings in shares of Nelnet by 385.9% in the 4th quarter. State of Wyoming now owns 2,376 shares of the credit services provider’s stock worth $254,000 after purchasing an additional 1,887 shares in the last quarter. Sycale Advisors NY LLC raised its position in shares of Nelnet by 26.7% in the 4th quarter. Sycale Advisors NY LLC now owns 258,038 shares of the credit services provider’s stock worth $27,561,000 after acquiring an additional 54,380 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of Nelnet by 49.1% in the 4th quarter. ProShare Advisors LLC now owns 4,005 shares of the credit services provider’s stock worth $428,000 after buying an additional 1,319 shares during the last quarter. Man Group plc purchased a new stake in Nelnet during the 4th quarter valued at $202,000. Finally, Nuveen Asset Management LLC boosted its stake in shares of Nelnet by 11.0% in the 4th quarter. Nuveen Asset Management LLC now owns 40,876 shares of the credit services provider’s stock worth $4,366,000 after buying an additional 4,045 shares during the last quarter. 33.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Nelnet Price Performance

NYSE:NNI opened at $114.91 on Tuesday. The firm’s fifty day moving average is $110.09 and its two-hundred day moving average is $110.38. The firm has a market cap of $4.17 billion, a price-to-earnings ratio of 37.80 and a beta of 0.95. Nelnet, Inc. has a one year low of $97.13 and a one year high of $127.32. The company has a debt-to-equity ratio of 2.78, a quick ratio of 31.47 and a current ratio of 31.47.

Nelnet (NYSE:NNI) last released its quarterly earnings results on Thursday, May 8th. The credit services provider reported $2.39 EPS for the quarter, beating the consensus estimate of $1.92 by $0.47. The firm had revenue of $398.49 million for the quarter, compared to analyst estimates of $393.00 million. Nelnet had a net margin of 5.54% and a return on equity of 3.78%. Research analysts expect that Nelnet, Inc. will post 4.52 EPS for the current year.

Nelnet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.97%. The ex-dividend date is Monday, June 2nd. Nelnet’s dividend payout ratio (DPR) is presently 21.17%.

Nelnet announced that its board has initiated a stock repurchase program on Thursday, May 8th that allows the company to repurchase 5,000,000 shares. This repurchase authorization allows the credit services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

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.