Quantbot Technologies LP acquired a new position in Nelnet, Inc. (NYSE:NNI) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,000 shares of the credit services provider’s stock, valued at approximately $104,000.
A number of other institutional investors and hedge funds have also recently made changes to their positions in NNI. Victory Capital Management Inc. boosted its position in shares of Nelnet by 28.4% during the 1st quarter. Victory Capital Management Inc. now owns 5,219 shares of the credit services provider’s stock valued at $274,000 after acquiring an additional 1,155 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Nelnet by 4.0% during the 1st quarter. Wells Fargo & Company MN now owns 40,405 shares of the credit services provider’s stock valued at $2,118,000 after buying an additional 1,563 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Nelnet during the 1st quarter valued at about $100,000. First Trust Advisors LP increased its stake in Nelnet by 4.7% in the 4th quarter. First Trust Advisors LP now owns 45,258 shares of the credit services provider’s stock worth $2,479,000 after purchasing an additional 2,022 shares during the period. Finally, Prudential Financial Inc. increased its stake in Nelnet by 0.9% in the 1st quarter. Prudential Financial Inc. now owns 367,579 shares of the credit services provider’s stock worth $19,265,000 after purchasing an additional 3,410 shares during the period. 38.72% of the stock is owned by institutional investors.
In other news, major shareholder Angie Muhleisen sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, March 26th. The stock was sold at an average price of $51.26, for a total value of $102,520.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 46.10% of the stock is owned by company insiders.
Shares of Nelnet traded down $0.17, reaching $60.50, during midday trading on Friday, MarketBeat Ratings reports. 108,101 shares of the company’s stock traded hands, compared to its average volume of 54,304. The company has a debt-to-equity ratio of 9.45, a current ratio of 127.47 and a quick ratio of 127.47. The company has a market cap of $2.47 billion, a P/E ratio of 12.48 and a beta of 0.90. Nelnet, Inc. has a one year low of $43.92 and a one year high of $64.00.
Nelnet (NYSE:NNI) last released its quarterly earnings data on Tuesday, May 8th. The credit services provider reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.31. Nelnet had a return on equity of 9.28% and a net margin of 17.43%. The firm had revenue of $322.21 million during the quarter. During the same period last year, the company earned $1.23 EPS.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 15th. Stockholders of record on Friday, June 1st were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.06%. The ex-dividend date was Thursday, May 31st.
Nelnet Company Profile
Nelnet, Inc provides education related products and services, and loan asset management services worldwide. The company's Loan Systems and Servicing segment is involved in loan servicing activities, such as loan conversion, application processing, borrower updates, customer service, payment processing, due diligence procedures, funds management reconciliation, and claim processing activities for student loan portfolio and third-party clients.
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