Dimensional Fund Advisors LP grew its position in shares of Nelnet, Inc. (NYSE:NNI) by 1.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,426,238 shares of the credit services provider’s stock after buying an additional 29,081 shares during the quarter. Dimensional Fund Advisors LP owned 5.95% of Nelnet worth $138,708,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NNI. Commonwealth Bank of Australia bought a new position in shares of Nelnet during the 3rd quarter valued at $148,000. Burney Co. bought a new position in shares of Nelnet during the 2nd quarter valued at $220,000. Pittenger & Anderson Inc. lifted its holdings in shares of Nelnet by 67.0% during the 3rd quarter. Pittenger & Anderson Inc. now owns 4,425 shares of the credit services provider’s stock valued at $253,000 after buying an additional 1,775 shares during the period. WBI Investments Inc. bought a new position in shares of Nelnet during the 3rd quarter valued at $267,000. Finally, Public Employees Retirement System of Ohio lifted its holdings in shares of Nelnet by 220.1% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,735 shares of the credit services provider’s stock valued at $277,000 after buying an additional 3,256 shares during the period. 37.48% of the stock is currently owned by hedge funds and other institutional investors.
In other news, major shareholder Angie Muhleisen sold 1,000 shares of the stock in a transaction on Wednesday, November 21st. The stock was sold at an average price of $52.06, for a total transaction of $52,060.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 3,000 shares of company stock worth $166,700 over the last three months. Insiders own 46.10% of the company’s stock.
NYSE NNI opened at $52.53 on Thursday. The firm has a market cap of $2.14 billion, a PE ratio of 10.06 and a beta of 0.68. The company has a current ratio of 98.19, a quick ratio of 98.19 and a debt-to-equity ratio of 9.56. Nelnet, Inc. has a 1-year low of $48.30 and a 1-year high of $64.00.
Nelnet (NYSE:NNI) last released its quarterly earnings results on Thursday, November 8th. The credit services provider reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.12). The firm had revenue of $276.35 million for the quarter. Nelnet had a net margin of 15.43% and a return on equity of 9.48%. During the same quarter last year, the firm earned $1.00 earnings per share.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.37%. This is a boost from Nelnet’s previous quarterly dividend of $0.16. The ex-dividend date is Thursday, November 29th.
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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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