Nelnet, Inc. (NNI) Stake Lessened by Numeric Investors LLC
Numeric Investors LLC lowered its stake in shares of Nelnet, Inc. (NYSE:NNI) by 5.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 217,541 shares of the credit services provider’s stock after selling 11,900 shares during the quarter. Numeric Investors LLC owned about 0.52% of Nelnet worth $10,227,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of NNI. Bank of New York Mellon Corp increased its holdings in shares of Nelnet by 66.6% during the first quarter. Bank of New York Mellon Corp now owns 290,238 shares of the credit services provider’s stock valued at $12,730,000 after acquiring an additional 116,060 shares in the last quarter. Vanguard Group Inc. boosted its position in Nelnet by 3.5% in the second quarter. Vanguard Group Inc. now owns 2,087,767 shares of the credit services provider’s stock valued at $98,146,000 after buying an additional 69,695 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Nelnet by 3.1% in the first quarter. Dimensional Fund Advisors LP now owns 2,235,079 shares of the credit services provider’s stock valued at $98,030,000 after buying an additional 66,941 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in Nelnet by 48.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 183,193 shares of the credit services provider’s stock valued at $8,035,000 after buying an additional 59,468 shares during the last quarter. Finally, Citadel Advisors LLC boosted its position in Nelnet by 352.5% in the first quarter. Citadel Advisors LLC now owns 49,970 shares of the credit services provider’s stock valued at $2,192,000 after buying an additional 38,928 shares during the last quarter. Hedge funds and other institutional investors own 40.86% of the company’s stock.
A number of equities research analysts recently commented on the company. TheStreet upgraded Nelnet from a “d+” rating to a “c” rating in a research report on Tuesday, August 8th. Compass Point lowered Nelnet from a “buy” rating to a “neutral” rating and set a $52.00 target price on the stock. in a research report on Wednesday, August 9th. Finally, BidaskClub upgraded Nelnet from a “sell” rating to a “hold” rating in a research report on Friday, June 9th.
Shares of Nelnet, Inc. (NYSE:NNI) opened at 50.50 on Friday. The stock has a market cap of $2.10 billion, a price-to-earnings ratio of 8.19 and a beta of 0.98. The company has a 50-day moving average price of $47.31 and a 200-day moving average price of $45.15. Nelnet, Inc. has a 12 month low of $37.86 and a 12 month high of $55.01.
Nelnet (NYSE:NNI) last released its quarterly earnings results on Monday, August 7th. The credit services provider reported $1.08 EPS for the quarter, hitting the consensus estimate of $1.08. The company had revenue of $161.70 million for the quarter, compared to analyst estimates of $182.02 million. Nelnet had a return on equity of 9.65% and a net margin of 20.19%. During the same quarter in the previous year, the company posted $1.13 earnings per share. On average, analysts expect that Nelnet, Inc. will post $4.50 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend was Wednesday, August 30th. Nelnet’s dividend payout ratio (DPR) is 9.09%.
In other Nelnet news, major shareholder Angie Muhleisen sold 2,000 shares of Nelnet stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $45.34, for a total transaction of $90,680.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider William J. Munn sold 1,000 shares of Nelnet stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $50.00, for a total value of $50,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,000 shares of company stock worth $332,580. 45.40% of the stock is currently owned by corporate insiders.
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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