American Century Companies Inc. Buys 41,302 Shares of Nelnet, Inc. $NNI

American Century Companies Inc. lifted its stake in Nelnet, Inc. (NYSE:NNI) by 28.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 184,316 shares of the credit services provider’s stock after acquiring an additional 41,302 shares during the period. American Century Companies Inc. owned 0.51% of Nelnet worth $23,110,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its position in shares of Nelnet by 7.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 185,029 shares of the credit services provider’s stock worth $23,199,000 after buying an additional 12,941 shares during the last quarter. Wedge Capital Management L L P NC purchased a new stake in shares of Nelnet during the 3rd quarter valued at $1,086,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Nelnet in the 3rd quarter worth $1,505,000. Allworth Financial LP boosted its position in shares of Nelnet by 50,400.0% in the 2nd quarter. Allworth Financial LP now owns 1,010 shares of the credit services provider’s stock worth $122,000 after purchasing an additional 1,008 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in Nelnet by 104.2% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,285 shares of the credit services provider’s stock worth $1,003,000 after buying an additional 4,228 shares during the last quarter. Hedge funds and other institutional investors own 33.51% of the company’s stock.

Analysts Set New Price Targets

NNI has been the subject of a number of research analyst reports. Wall Street Zen cut Nelnet from a “strong-buy” rating to a “hold” rating in a research note on Saturday, November 15th. TD Cowen restated a “hold” rating on shares of Nelnet in a report on Thursday, January 8th. Finally, Zacks Research raised shares of Nelnet from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Nelnet presently has an average rating of “Moderate Buy” and an average target price of $140.00.

Nelnet Price Performance

Shares of NYSE NNI opened at $131.51 on Tuesday. Nelnet, Inc. has a 52 week low of $98.15 and a 52 week high of $142.87. The company has a quick ratio of 28.27, a current ratio of 28.27 and a debt-to-equity ratio of 2.18. The firm has a market cap of $4.73 billion, a P/E ratio of 11.17 and a beta of 0.82. The business’s 50 day moving average price is $132.31 and its 200 day moving average price is $130.57.

Nelnet (NYSE:NNI) last announced its quarterly earnings data on Thursday, February 26th. The credit services provider reported $1.56 EPS for the quarter, missing the consensus estimate of $1.63 by ($0.07). The business had revenue of $390.43 million for the quarter, compared to analyst estimates of $382.00 million. Nelnet had a net margin of 18.99% and a return on equity of 12.43%. On average, sell-side analysts expect that Nelnet, Inc. will post 4.52 earnings per share for the current year.

Nelnet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be given a dividend of $0.33 per share. The ex-dividend date is Friday, February 27th. This represents a $1.32 dividend on an annualized basis and a yield of 1.0%. Nelnet’s payout ratio is currently 11.21%.

Nelnet Company Profile

Nelnet, Inc (NYSE: NNI) is a diversified education services company founded in 1978 and headquartered in Lincoln, Nebraska. Originally established as the National Education Loan Network by Michael S. Dunlap, the company has grown into a prominent provider of student loan servicing and education finance solutions in the United States.

At the core of Nelnet’s business is student loan servicing, where it administers and manages federal and private education loans on behalf of borrowers and lending partners.