Livforsakringsbolaget Skandia Omsesidigt Decreases Position in Nelnet, Inc. (NNI)
Livforsakringsbolaget Skandia Omsesidigt lowered its stake in shares of Nelnet, Inc. (NYSE:NNI) by 24.1% during the third quarter, Holdings Channel reports. The firm owned 22,987 shares of the company’s stock after selling 7,304 shares during the period. Livforsakringsbolaget Skandia Omsesidigt owned about 0.05% of Nelnet worth $1,231,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in shares of Nelnet by 6.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,104,320 shares of the company’s stock valued at $73,122,000 after buying an additional 133,552 shares during the period. Vanguard Group Inc. raised its stake in shares of Nelnet by 4.7% in the second quarter. Vanguard Group Inc. now owns 1,953,756 shares of the company’s stock valued at $67,893,000 after buying an additional 87,977 shares during the period. Prudential Financial Inc. raised its stake in shares of Nelnet by 7.6% in the second quarter. Prudential Financial Inc. now owns 464,249 shares of the company’s stock valued at $16,132,000 after buying an additional 32,630 shares during the period. James Investment Research Inc. raised its stake in shares of Nelnet by 2.3% in the third quarter. James Investment Research Inc. now owns 402,698 shares of the company’s stock valued at $16,257,000 after buying an additional 9,050 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Nelnet by 40.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 161,146 shares of the company’s stock valued at $5,600,000 after buying an additional 46,178 shares during the period. 41.05% of the stock is currently owned by institutional investors.
Nelnet, Inc. (NYSE:NNI) traded up 1.65% during midday trading on Friday, reaching $51.15. 84,725 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $51.42 and a 200-day moving average of $41.90. Nelnet, Inc. has a 12 month low of $27.80 and a 12 month high of $55.01. The stock has a market cap of $2.16 billion, a PE ratio of 9.16 and a beta of 1.05.
Nelnet (NYSE:NNI) last announced its quarterly earnings results on Wednesday, November 9th. The company reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.23. Nelnet had a net margin of 20.23% and a return on equity of 11.83%. During the same period in the prior year, the business earned $1.43 EPS. On average, equities research analysts predict that Nelnet, Inc. will post $5.04 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.09%. This is an increase from Nelnet’s previous quarterly dividend of $0.12. The ex-dividend date was Tuesday, November 29th. Nelnet’s dividend payout ratio is presently 10.07%.
NNI has been the topic of several research reports. Credit Suisse Group lowered shares of Nelnet from an “outperform” rating to a “neutral” rating and lifted their price target for the company from $45.00 to $48.00 in a report on Monday, November 14th. They noted that the move was a valuation call. TheStreet raised shares of Nelnet from a “sell” rating to a “hold” rating in a report on Friday, November 11th.
In other news, insider William J. Munn sold 1,000 shares of the stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $39.00, for a total value of $39,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 45.40% of the stock is currently owned by insiders.
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