Teacher Retirement System of Texas Has $825,000 Position in Nelnet, Inc. (NYSE:NNI)

Teacher Retirement System of Texas lowered its stake in shares of Nelnet, Inc. (NYSE:NNI) by 17.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,437 shares of the credit services provider’s stock after selling 1,547 shares during the period. Teacher Retirement System of Texas’ holdings in Nelnet were worth $825,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. KBC Group NV acquired a new position in Nelnet during the 1st quarter worth $32,000. Sterling Capital Management LLC lifted its position in Nelnet by 796.0% during the 4th quarter. Sterling Capital Management LLC now owns 448 shares of the credit services provider’s stock worth $48,000 after acquiring an additional 398 shares during the last quarter. Blue Trust Inc. lifted its position in Nelnet by 292.1% during the 1st quarter. Blue Trust Inc. now owns 698 shares of the credit services provider’s stock worth $77,000 after acquiring an additional 520 shares during the last quarter. Man Group plc bought a new position in shares of Nelnet during the 4th quarter worth about $202,000. Finally, Venator Management LLC bought a new position in shares of Nelnet during the 4th quarter worth about $214,000. Institutional investors and hedge funds own 33.51% of the company’s stock.

Nelnet Stock Performance

NYSE NNI opened at $122.35 on Tuesday. The stock has a market cap of $4.44 billion, a P/E ratio of 23.13 and a beta of 0.95. The company’s 50-day simple moving average is $116.50 and its 200 day simple moving average is $112.20. Nelnet, Inc. has a twelve month low of $98.15 and a twelve month high of $127.32. The company has a quick ratio of 34.08, a current ratio of 34.08 and a debt-to-equity ratio of 2.57.

Nelnet (NYSE:NNI) last posted its earnings results on Thursday, May 8th. The credit services provider reported $2.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.92 by $0.47. The business had revenue of $398.49 million for the quarter, compared to analysts’ expectations of $393.00 million. Nelnet had a net margin of 9.44% and a return on equity of 6.00%. As a group, research analysts forecast that Nelnet, Inc. will post 4.52 earnings per share for the current fiscal year.

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

Nelnet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given a dividend of $0.28 per share. The ex-dividend date was Monday, June 2nd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.92%. Nelnet’s payout ratio is 21.17%.

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.