Nelnet, Inc. (NYSE:NNI) Stock Position Cut by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. lessened its stake in Nelnet, Inc. (NYSE:NNI) by 88.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 674 shares of the credit services provider’s stock after selling 5,228 shares during the period. Harbor Capital Advisors Inc.’s holdings in Nelnet were worth $75,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Proficio Capital Partners LLC lifted its holdings in Nelnet by 16,773.6% in the 4th quarter. Proficio Capital Partners LLC now owns 482,247 shares of the credit services provider’s stock valued at $482,000 after acquiring an additional 479,389 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Nelnet by 8.0% in the 4th quarter. Vanguard Group Inc. now owns 1,347,756 shares of the credit services provider’s stock valued at $143,954,000 after acquiring an additional 99,885 shares during the last quarter. Sycale Advisors NY LLC lifted its holdings in Nelnet by 26.7% in the 4th quarter. Sycale Advisors NY LLC now owns 258,038 shares of the credit services provider’s stock valued at $27,561,000 after acquiring an additional 54,380 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Nelnet by 30.7% in the 4th quarter. JPMorgan Chase & Co. now owns 172,480 shares of the credit services provider’s stock valued at $18,423,000 after acquiring an additional 40,476 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Nelnet by 13,657.1% in the 1st quarter. GAMMA Investing LLC now owns 34,943 shares of the credit services provider’s stock valued at $3,876,000 after acquiring an additional 34,689 shares during the last quarter. Institutional investors own 33.51% of the company’s stock.

Nelnet Price Performance

Shares of NYSE NNI opened at $112.39 on Monday. The company has a current ratio of 31.47, a quick ratio of 31.47 and a debt-to-equity ratio of 2.78. Nelnet, Inc. has a twelve month low of $97.13 and a twelve month high of $127.32. The company has a market capitalization of $4.08 billion, a price-to-earnings ratio of 36.97 and a beta of 0.95. The firm has a 50-day moving average of $111.02 and a two-hundred day moving average of $110.54.

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

Nelnet announced that its board has approved a share repurchase plan on Thursday, May 8th that permits the company to buyback 5,000,000 shares. This buyback authorization permits the credit services provider to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Nelnet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend is Monday, June 2nd. Nelnet’s dividend payout ratio is presently 21.17%.

Analysts Set New Price Targets

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

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.