State Street Corp increased its position in shares of Nelnet, Inc. (NYSE:NNI) by 5.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 409,931 shares of the credit services provider’s stock after buying an additional 20,103 shares during the period. State Street Corp owned 0.99% of Nelnet worth $19,275,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in NNI. Legal & General Group Plc increased its position in shares of Nelnet by 64.2% during the 2nd quarter. Legal & General Group Plc now owns 7,593 shares of the credit services provider’s stock worth $355,000 after purchasing an additional 2,969 shares in the last quarter. Northern Trust Corp grew its holdings in Nelnet by 1.0% during the 2nd quarter. Northern Trust Corp now owns 1,055,113 shares of the credit services provider’s stock worth $49,601,000 after acquiring an additional 10,349 shares during the last quarter. Thompson Siegel & Walmsley LLC grew its holdings in Nelnet by 12.2% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 289,599 shares of the credit services provider’s stock worth $13,614,000 after acquiring an additional 31,566 shares during the last quarter. Vanguard Group Inc. grew its holdings in Nelnet by 3.5% during the 2nd quarter. Vanguard Group Inc. now owns 2,087,767 shares of the credit services provider’s stock worth $98,146,000 after acquiring an additional 69,695 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Nelnet by 9.1% during the 1st quarter. Geode Capital Management LLC now owns 304,267 shares of the credit services provider’s stock worth $13,345,000 after acquiring an additional 25,472 shares during the last quarter. Hedge funds and other institutional investors own 39.63% of the company’s stock.
In other Nelnet news, major shareholder Angie Muhleisen sold 2,000 shares of the business’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $52.75, for a total transaction of $105,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William J. Munn sold 1,000 shares of the business’s stock in a transaction dated Thursday, October 19th. The stock was sold at an average price of $55.00, for a total value of $55,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,748 shares of company stock valued at $714,568. 46.10% of the stock is owned by insiders.
Nelnet, Inc. (NYSE NNI) traded up $0.82 during midday trading on Monday, hitting $54.40. 88,211 shares of the stock were exchanged, compared to its average volume of 82,664. Nelnet, Inc. has a 12 month low of $38.72 and a 12 month high of $59.68. The company has a quick ratio of 159.08, a current ratio of 159.08 and a debt-to-equity ratio of 10.44. The firm has a market capitalization of $2,188.53, a P/E ratio of 12.29 and a beta of 1.04.
Nelnet (NYSE:NNI) last released its quarterly earnings data on Tuesday, November 7th. The credit services provider reported $1.00 EPS for the quarter, missing the Zacks’ consensus estimate of $1.10 by ($0.10). The company had revenue of $194.43 million for the quarter, compared to the consensus estimate of $191.00 million. Nelnet had a return on equity of 8.70% and a net margin of 17.51%. The company’s revenue for the quarter was down 18.6% compared to the same quarter last year. During the same period last year, the firm earned $1.36 earnings per share.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend is Thursday, November 30th. This is an increase from Nelnet’s previous quarterly dividend of $0.14. Nelnet’s payout ratio is 12.10%.
NNI has been the topic of several recent research reports. Credit Suisse Group raised their target price on shares of Nelnet from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Friday, October 20th. Compass Point raised shares of Nelnet from a “neutral” rating to a “buy” rating in a research note on Thursday, October 19th. Finally, TheStreet raised shares of Nelnet from a “d+” rating to a “c” rating in a research note on Tuesday, August 8th.
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Nelnet Company 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.
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