Teacher Retirement System of Texas lessened its stake in shares of Nelnet, Inc. (NYSE:NNI) by 37.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,554 shares of the credit services provider’s stock after selling 2,684 shares during the period. Teacher Retirement System of Texas’ holdings in Nelnet were worth $239,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the company. Schwab Charles Investment Management Inc. raised its stake in Nelnet by 21.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 232,008 shares of the credit services provider’s stock worth $12,160,000 after buying an additional 41,386 shares in the last quarter. LSV Asset Management raised its stake in Nelnet by 1.9% in the first quarter. LSV Asset Management now owns 1,028,259 shares of the credit services provider’s stock worth $53,891,000 after buying an additional 19,475 shares in the last quarter. Prudential Financial Inc. raised its stake in Nelnet by 0.9% in the first quarter. Prudential Financial Inc. now owns 367,579 shares of the credit services provider’s stock worth $19,265,000 after buying an additional 3,410 shares in the last quarter. Victory Capital Management Inc. raised its stake in Nelnet by 28.4% in the first quarter. Victory Capital Management Inc. now owns 5,219 shares of the credit services provider’s stock worth $274,000 after buying an additional 1,155 shares in the last quarter. Finally, Boston Partners raised its stake in Nelnet by 4.5% in the first quarter. Boston Partners now owns 1,181,948 shares of the credit services provider’s stock worth $61,946,000 after buying an additional 51,185 shares in the last quarter. 38.72% of the stock is owned by hedge funds and other institutional investors.
Separately, TheStreet raised shares of Nelnet from a “d+” rating to a “c” rating in a research note on Thursday, May 24th.
Shares of Nelnet opened at $60.50 on Friday, MarketBeat Ratings reports. The firm has a market cap of $2.47 billion, a PE ratio of 12.48 and a beta of 0.90. The company has a debt-to-equity ratio of 9.45, a quick ratio of 127.47 and a current ratio of 127.47. Nelnet, Inc. has a 12-month low of $43.92 and a 12-month high of $64.00.
Nelnet (NYSE:NNI) last issued its quarterly earnings results on Tuesday, May 8th. The credit services provider reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.31. The business had revenue of $322.21 million for the quarter. Nelnet had a return on equity of 9.28% and a net margin of 17.43%. During the same period in the previous year, the company posted $1.23 earnings per share.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 15th. Stockholders of record on Friday, June 1st were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date was Thursday, May 31st.
In other news, major shareholder Angie Muhleisen sold 2,000 shares of the company’s stock in a transaction on Monday, March 26th. The stock was sold at an average price of $51.26, for a total transaction of $102,520.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 46.10% of the company’s stock.
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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