Bandera Partners LLC Trims Stock Position in Nelnet, Inc. $NNI

Bandera Partners LLC trimmed its holdings in shares of Nelnet, Inc. (NYSE:NNI) by 19.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 102,389 shares of the credit services provider’s stock after selling 24,611 shares during the period. Nelnet accounts for about 5.6% of Bandera Partners LLC’s investment portfolio, making the stock its 7th biggest holding. Bandera Partners LLC owned approximately 0.28% of Nelnet worth $12,401,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NNI. XTX Topco Ltd acquired a new position in shares of Nelnet in the 1st quarter valued at $384,000. Jump Financial LLC bought a new stake in Nelnet in the first quarter valued at about $256,000. Deutsche Bank AG lifted its stake in Nelnet by 209.0% in the first quarter. Deutsche Bank AG now owns 39,074 shares of the credit services provider’s stock valued at $4,334,000 after buying an additional 26,429 shares during the period. Nuveen LLC bought a new position in Nelnet during the first quarter worth about $4,429,000. Finally, Allianz Asset Management GmbH grew its position in shares of Nelnet by 84.7% during the 1st quarter. Allianz Asset Management GmbH now owns 8,553 shares of the credit services provider’s stock worth $949,000 after buying an additional 3,921 shares during the period. 33.51% of the stock is owned by institutional investors.

Insider Activity at Nelnet

In related news, Director Thomas Edward Henning sold 3,102 shares of the company’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $128.87, for a total value of $399,754.74. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 50.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NNI. Weiss Ratings reiterated a “hold (c+)” rating on shares of Nelnet in a research report on Wednesday, October 8th. TD Cowen increased their target price on shares of Nelnet from $130.00 to $135.00 and gave the stock a “hold” rating in a report on Monday, November 10th. Finally, Wall Street Zen lowered shares of Nelnet from a “strong-buy” rating to a “hold” rating in a report on Saturday, November 15th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, Nelnet currently has a consensus rating of “Hold” and a consensus target price of $135.00.

Nelnet Stock Performance

Shares of NYSE NNI opened at $126.39 on Tuesday. The company has a current ratio of 29.42, a quick ratio of 29.41 and a debt-to-equity ratio of 2.27. The company has a market capitalization of $4.54 billion, a P/E ratio of 14.00 and a beta of 0.85. Nelnet, Inc. has a 12 month low of $98.15 and a 12 month high of $136.68. The stock has a 50 day moving average of $128.50 and a 200-day moving average of $123.84.

Nelnet (NYSE:NNI) last announced its quarterly earnings results on Thursday, November 6th. The credit services provider reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $1.43. Nelnet had a return on equity of 10.09% and a net margin of 14.86%.The business had revenue of $427.76 million during the quarter, compared to the consensus estimate of $372.00 million. As a group, equities research analysts predict that Nelnet, Inc. will post 4.52 EPS for the current year.

Nelnet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Monday, December 1st. This is a positive change from Nelnet’s previous quarterly dividend of $0.30. Nelnet’s payout ratio is presently 11.09%.

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.