3,613 Shares in Nelnet, Inc. (NYSE:NNI) Purchased by Picton Mahoney Asset Management

Picton Mahoney Asset Management acquired a new stake in Nelnet, Inc. (NYSE:NNI) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,613 shares of the credit services provider’s stock, valued at approximately $401,000.

Several other large investors also recently added to or reduced their stakes in NNI. Vanguard Group Inc. boosted its position 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 buying an additional 99,885 shares during the period. Sycale Advisors NY LLC boosted its position 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 buying an additional 54,380 shares during the period. JPMorgan Chase & Co. boosted its position 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 buying an additional 40,476 shares during the period. GAMMA Investing LLC boosted its position 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 buying an additional 34,689 shares during the period. Finally, Western Standard LLC purchased a new stake in Nelnet in the 4th quarter valued at about $2,614,000. 33.51% of the stock is owned by hedge funds and other institutional investors.

Nelnet Price Performance

Nelnet stock opened at $124.94 on Thursday. The firm has a 50-day moving average of $118.70 and a two-hundred day moving average of $113.57. Nelnet, Inc. has a 1 year low of $98.15 and a 1 year high of $127.32. The stock has a market cap of $4.53 billion, a price-to-earnings ratio of 23.62 and a beta of 0.95. The company has a debt-to-equity ratio of 2.57, a current ratio of 34.08 and a quick ratio of 34.08.

Nelnet (NYSE:NNI) last announced its quarterly 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. Nelnet had a net margin of 9.44% and a return on equity of 6.00%. The firm had revenue of $398.49 million during the quarter, compared to analysts’ expectations of $393.00 million. On average, research analysts forecast that Nelnet, Inc. will post 4.52 earnings per share for the current year.

Nelnet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given a $0.28 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.12 annualized dividend and a dividend yield of 0.90%. Nelnet’s payout ratio is presently 21.17%.

Nelnet declared that its board has approved a stock repurchase program on Thursday, May 8th that permits the company to buyback 5,000,000 shares. This buyback authorization permits the credit services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Nelnet Company 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.