Militia Capital Partners LP purchased a new position in shares of Nelnet, Inc. (NYSE:NNI – Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 9,000 shares of the credit services provider’s stock, valued at approximately $1,197,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wedge Capital Management L L P NC grew its holdings in Nelnet by 0.9% during the 4th quarter. Wedge Capital Management L L P NC now owns 8,742 shares of the credit services provider’s stock worth $1,162,000 after acquiring an additional 81 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Nelnet by 6.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,353 shares of the credit services provider’s stock worth $164,000 after acquiring an additional 83 shares in the last quarter. Captrust Financial Advisors grew its holdings in Nelnet by 0.6% during the 3rd quarter. Captrust Financial Advisors now owns 16,336 shares of the credit services provider’s stock worth $2,048,000 after acquiring an additional 94 shares in the last quarter. Alliancebernstein L.P. grew its holdings in Nelnet by 0.6% during the 3rd quarter. Alliancebernstein L.P. now owns 19,158 shares of the credit services provider’s stock worth $2,402,000 after acquiring an additional 121 shares in the last quarter. Finally, CWM LLC grew its holdings in Nelnet by 7.1% during the 4th quarter. CWM LLC now owns 1,900 shares of the credit services provider’s stock worth $253,000 after acquiring an additional 126 shares in the last quarter. Institutional investors and hedge funds own 33.51% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on NNI shares. Zacks Research cut shares of Nelnet from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Weiss Ratings upgraded shares of Nelnet from a “hold (c)” rating to a “buy (b)” rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $140.00.
Nelnet Stock Up 2.0%
Shares of NYSE:NNI opened at $130.87 on Wednesday. The stock has a market cap of $4.70 billion, a P/E ratio of 11.40 and a beta of 0.79. The firm has a fifty day moving average price of $132.31 and a 200 day moving average price of $132.08. The company has a debt-to-equity ratio of 2.14, a current ratio of 24.07 and a quick ratio of 24.07. Nelnet, Inc. has a 1-year low of $112.61 and a 1-year high of $144.38.
Nelnet (NYSE:NNI – Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The credit services provider reported $1.94 earnings per share for the quarter, missing analysts’ consensus estimates of $2.66 by ($0.72). The business had revenue of $419.06 million for the quarter, compared to analyst estimates of $443.84 million. Nelnet had a return on equity of 11.73% and a net margin of 18.45%. Sell-side analysts predict that Nelnet, Inc. will post 8.6 EPS for the current year.
Nelnet Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a dividend of $0.33 per share. The ex-dividend date was Monday, June 1st. This represents a $1.32 dividend on an annualized basis and a yield of 1.0%. Nelnet’s dividend payout ratio is currently 11.50%.
About Nelnet
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.
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