Ameriprise Financial Inc. Has $6.84 Million Position in Nelnet, Inc. (NNI)

Ameriprise Financial Inc. decreased its position in Nelnet, Inc. (NYSE:NNI) by 11.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 145,432 shares of the credit services provider’s stock after selling 17,919 shares during the quarter. Ameriprise Financial Inc. owned about 0.47% of Nelnet worth $6,837,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Victory Capital Management Inc. lifted its stake in Nelnet by 2.0% during the first quarter. Victory Capital Management Inc. now owns 2,640 shares of the credit services provider’s stock worth $116,000 after purchasing an additional 53 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Nelnet by 1.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 8,659 shares of the credit services provider’s stock worth $380,000 after purchasing an additional 101 shares during the last quarter. American International Group Inc. lifted its stake in Nelnet by 7.1% during the first quarter. American International Group Inc. now owns 12,458 shares of the credit services provider’s stock worth $546,000 after purchasing an additional 828 shares during the last quarter. Seizert Capital Partners LLC lifted its stake in Nelnet by 1.4% during the second quarter. Seizert Capital Partners LLC now owns 60,511 shares of the credit services provider’s stock worth $2,845,000 after purchasing an additional 854 shares during the last quarter. Finally, Aperio Group LLC lifted its stake in Nelnet by 10.1% during the second quarter. Aperio Group LLC now owns 9,470 shares of the credit services provider’s stock worth $445,000 after purchasing an additional 865 shares during the last quarter. Institutional investors and hedge funds own 40.84% of the company’s stock.

Several research analysts have recently issued reports on the stock. Compass Point upgraded Nelnet from a “neutral” rating to a “buy” rating in a report on Thursday, October 19th. TheStreet upgraded Nelnet from a “d+” rating to a “c” rating in a report on Tuesday, August 8th. BidaskClub downgraded Nelnet from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Finally, Credit Suisse Group increased their price target on Nelnet from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Friday, October 20th.

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Nelnet, Inc. (NNI) opened at 58.85 on Friday. Nelnet, Inc. has a 52-week low of $37.86 and a 52-week high of $59.68. The stock’s 50 day moving average is $51.00 and its 200-day moving average is $46.77. The company has a market cap of $2.44 billion, a PE ratio of 9.54 and a beta of 1.00.

Nelnet (NYSE:NNI) last issued its quarterly earnings results on Monday, August 7th. The credit services provider reported $1.08 EPS for the quarter, hitting the consensus estimate of $1.08. The company had revenue of $161.70 million during the quarter, compared to analyst estimates of $182.02 million. Nelnet had a net margin of 20.19% and a return on equity of 9.65%. During the same quarter in the previous year, the firm earned $1.13 EPS. Equities research analysts predict that Nelnet, Inc. will post $4.47 EPS for the current fiscal year.

In other news, major shareholder Angie Muhleisen sold 2,000 shares of the company’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $48.38, for a total transaction of $96,760.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William J. Munn sold 1,000 shares of the company’s stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $50.00, for a total transaction of $50,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 8,000 shares of company stock valued at $407,520. 45.40% of the stock is owned by insiders.

Nelnet Profile

Nelnet, Inc focuses on delivering education-related products and services and student loan asset management. The Company is engaged in student loan servicing, tuition payment processing and school information systems, and communications. The Company’s segments include Loan Systems and Servicing, Tuition Payment Processing and Campus Commerce, Communications, Asset Generation and Management, and Corporate and Other Activities.

Institutional Ownership by Quarter for Nelnet (NYSE:NNI)

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