HighTower Advisors LLC Sells 10,953 Shares of Nelnet, Inc. $NNI

HighTower Advisors LLC trimmed its holdings in shares of Nelnet, Inc. (NYSE:NNI) by 23.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 36,689 shares of the credit services provider’s stock after selling 10,953 shares during the period. HighTower Advisors LLC owned approximately 0.10% of Nelnet worth $4,600,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in NNI. Osaic Holdings Inc. raised its stake in Nelnet by 170.3% during the second quarter. Osaic Holdings Inc. now owns 373 shares of the credit services provider’s stock valued at $45,000 after buying an additional 235 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Nelnet by 189.8% in the third quarter. Smartleaf Asset Management LLC now owns 368 shares of the credit services provider’s stock worth $46,000 after acquiring an additional 241 shares during the last quarter. State of Wyoming bought a new position in shares of Nelnet during the second quarter valued at $62,000. EverSource Wealth Advisors LLC raised its position in shares of Nelnet by 137.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 541 shares of the credit services provider’s stock worth $66,000 after purchasing an additional 313 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of Nelnet in the 3rd quarter worth about $86,000. Hedge funds and other institutional investors own 33.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NNI. TD Cowen reissued a “hold” rating on shares of Nelnet in a research report on Thursday, January 8th. Zacks Research upgraded shares of Nelnet from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 12th. Finally, Wall Street Zen downgraded shares of Nelnet from a “strong-buy” rating to a “hold” rating in a research report on Saturday, November 15th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.00.

Nelnet Price Performance

NNI opened at $128.68 on Wednesday. The company’s 50-day simple moving average is $133.30 and its two-hundred day simple moving average is $130.23. The company has a debt-to-equity ratio of 2.18, a quick ratio of 28.98 and a current ratio of 28.98. The stock has a market capitalization of $4.62 billion, a P/E ratio of 10.81 and a beta of 0.82. Nelnet, Inc. has a 52-week low of $98.15 and a 52-week high of $142.87.

Nelnet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be paid a dividend of $0.33 per share. The ex-dividend date is Friday, February 27th. This represents a $1.32 dividend on an annualized basis and a yield of 1.0%. Nelnet’s payout ratio is currently 11.09%.

Insiders Place Their Bets

In other news, Director Deun Jona M. Van sold 400 shares of the stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $128.95, for a total transaction of $51,580.00. Following the transaction, the director directly owned 704 shares of the company’s stock, valued at $90,780.80. This represents a 36.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 50.90% of the company’s stock.

Nelnet Profile

Nelnet, Inc (NYSE: NNI) is a diversified education services company founded in 1978 and headquartered in Lincoln, Nebraska. Originally established as the National Education Loan Network by Michael S. Dunlap, the company has grown into a prominent provider of student loan servicing and education finance solutions in the United States.

At the core of Nelnet’s business is student loan servicing, where it administers and manages federal and private education loans on behalf of borrowers and lending partners.