Nelnet, Inc. $NNI Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. cut its stake in Nelnet, Inc. (NYSE:NNI) by 69.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,073 shares of the credit services provider’s stock after selling 25,040 shares during the period. Edgestream Partners L.P.’s holdings in Nelnet were worth $1,341,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. LPL Financial LLC lifted its position in Nelnet by 8.5% in the first quarter. LPL Financial LLC now owns 29,122 shares of the credit services provider’s stock worth $3,230,000 after purchasing an additional 2,278 shares during the period. Mackenzie Financial Corp bought a new stake in shares of Nelnet in the 1st quarter worth $304,000. XTX Topco Ltd acquired a new stake in shares of Nelnet in the first quarter valued at $384,000. Vanguard Group Inc. boosted its stake in Nelnet by 13.9% during the first quarter. Vanguard Group Inc. now owns 1,535,569 shares of the credit services provider’s stock valued at $170,341,000 after buying an additional 187,813 shares in the last quarter. Finally, Deutsche Bank AG boosted its stake in Nelnet by 209.0% during 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 in the last quarter. Institutional investors and hedge funds own 33.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on NNI shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Nelnet in a report on Wednesday, October 8th. TD Cowen lifted their target price on 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 downgraded Nelnet from a “strong-buy” rating to a “hold” rating in a report on Saturday, November 15th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Nelnet has a consensus rating of “Hold” and a consensus price target of $135.00.

Nelnet Price Performance

NNI opened at $130.22 on Friday. The firm has a market capitalization of $4.68 billion, a P/E ratio of 10.94 and a beta of 0.83. The stock has a fifty day moving average of $129.27 and a 200-day moving average of $124.60. The company has a quick ratio of 28.98, a current ratio of 28.98 and a debt-to-equity ratio of 2.18. Nelnet, Inc. has a 12-month low of $98.15 and a 12-month high of $136.68.

Nelnet (NYSE:NNI) last posted its quarterly earnings results on Thursday, November 6th. The credit services provider reported $2.95 earnings per share for the quarter, beating the consensus estimate of $1.52 by $1.43. Nelnet had a return on equity of 12.58% and a net margin of 18.96%.The firm had revenue of $427.76 million for the quarter, compared to analyst estimates of $372.00 million. Equities analysts forecast that Nelnet, Inc. will post 4.52 EPS for the current fiscal year.

Nelnet Increases Dividend

The business also recently declared 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 is an increase from Nelnet’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Monday, December 1st. Nelnet’s dividend payout ratio is 11.09%.

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.