Nelnet Inc. (NNI) Stake Decreased by Bank of New York Mellon Corp
Bank of New York Mellon Corp lowered its stake in Nelnet Inc. (NYSE:NNI) by 3.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 166,633 shares of the company’s stock after selling 6,251 shares during the period. Bank of New York Mellon Corp owned 0.39% of Nelnet worth $5,791,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Royal Bank of Canada increased its stake in shares of Nelnet by 6.5% in the first quarter. Royal Bank of Canada now owns 2,587 shares of the company’s stock valued at $102,000 after buying an additional 158 shares during the period. Legal & General Group Plc increased its stake in shares of Nelnet by 14.8% in the first quarter. Legal & General Group Plc now owns 3,460 shares of the company’s stock valued at $138,000 after buying an additional 445 shares during the period. Adams Diversified Equity Fund Inc. bought a new stake in shares of Nelnet during the second quarter valued at approximately $361,000. Palo Capital Inc. bought a new stake in shares of Nelnet during the second quarter valued at approximately $376,000. Finally, Americafirst Capital Management LLC bought a new stake in shares of Nelnet during the second quarter valued at approximately $525,000. 40.79% of the stock is owned by institutional investors.
Shares of Nelnet Inc. (NYSE:NNI) traded up 2.26% during trading on Thursday, hitting $39.36. The company had a trading volume of 107,238 shares. The company’s 50 day moving average is $36.21 and its 200 day moving average is $37.49. Nelnet Inc. has a 1-year low of $27.80 and a 1-year high of $42.65. The firm has a market capitalization of $1.67 billion, a P/E ratio of 8.37 and a beta of 0.94.
Nelnet (NYSE:NNI) last posted its earnings results on Thursday, August 4th. The company reported $1.13 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by $0.15. Nelnet had a net margin of 18.26% and a return on equity of 12.39%. During the same period in the prior year, the company posted $1.38 earnings per share. Analysts anticipate that Nelnet Inc. will post $4.70 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date was Tuesday, August 30th. Nelnet’s dividend payout ratio is 10.28%.
Separately, Compass Point reduced their price objective on shares of Nelnet from $50.00 to $47.00 and set a “buy” rating for the company in a research report on Monday, August 8th.
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