Systematic Financial Management LP Has $1.59 Million Stake in Nelnet, Inc. (NNI)
Systematic Financial Management LP decreased its position in Nelnet, Inc. (NYSE:NNI) by 17.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,390 shares of the credit services provider’s stock after selling 6,695 shares during the period. Systematic Financial Management LP owned about 0.08% of Nelnet worth $1,585,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the company. FMR LLC boosted its holdings in Nelnet by 24.7% during the first quarter. FMR LLC now owns 40,525 shares of the credit services provider’s stock worth $1,777,000 after buying an additional 8,025 shares in the last quarter. Teachers Advisors LLC boosted its holdings in Nelnet by 2.2% during the first quarter. Teachers Advisors LLC now owns 45,906 shares of the credit services provider’s stock worth $2,013,000 after buying an additional 1,005 shares in the last quarter. Aperio Group LLC boosted its holdings in Nelnet by 10.1% during the second quarter. Aperio Group LLC now owns 9,470 shares of the credit services provider’s stock worth $445,000 after buying an additional 865 shares in the last quarter. General American Investors Co. Inc. boosted its holdings in Nelnet by 6.3% during the second quarter. General American Investors Co. Inc. now owns 425,000 shares of the credit services provider’s stock worth $19,979,000 after buying an additional 25,000 shares in the last quarter. Finally, Boston Partners boosted its holdings in Nelnet by 2.7% during the second quarter. Boston Partners now owns 1,046,548 shares of the credit services provider’s stock worth $49,198,000 after buying an additional 27,770 shares in the last quarter. 39.63% of the stock is currently owned by institutional investors and hedge funds.
Shares of Nelnet, Inc. (NYSE:NNI) traded up $0.31 on Tuesday, reaching $52.14. 88,000 shares of the company’s stock were exchanged, compared to its average volume of 82,436. The company has a current ratio of 159.08, a quick ratio of 159.08 and a debt-to-equity ratio of 10.44. The firm has a market capitalization of $2,117.05, a PE ratio of 11.89 and a beta of 1.06. Nelnet, Inc. has a one year low of $38.72 and a one year high of $59.68.
Nelnet (NYSE:NNI) last announced its earnings results on Tuesday, November 7th. The credit services provider reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.10). The business had revenue of $194.43 million for the quarter, compared to analyst estimates of $191.00 million. Nelnet had a return on equity of 8.70% and a net margin of 17.51%. The business’s revenue was down 18.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.36 EPS.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.64 dividend on an annualized basis and a yield of 1.23%. This is a boost from Nelnet’s previous quarterly dividend of $0.14. Nelnet’s payout ratio is presently 10.59%.
NNI has been the topic of a number of research analyst reports. Compass Point raised shares of Nelnet from a “neutral” rating to a “buy” rating in a report on Thursday, October 19th. TheStreet raised shares of Nelnet from a “d+” rating to a “c” rating in a report on Tuesday, August 8th. Finally, Credit Suisse Group boosted their price objective on shares of Nelnet from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Friday, October 20th.
In other Nelnet news, Director Michael D. Reardon sold 5,748 shares of Nelnet stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $50.84, for a total transaction of $292,228.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Angie Muhleisen sold 2,000 shares of Nelnet stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $48.38, for a total transaction of $96,760.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,748 shares of company stock valued at $714,568. 46.10% of the stock is currently owned by company insiders.
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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