Nelnet Inc. (NNI) Stake Cut by Ameriprise Financial Inc.
Ameriprise Financial Inc. decreased its stake in Nelnet Inc. (NYSE:NNI) by 27.0% during the second quarter, Holdings Channel reports. The institutional investor owned 209,713 shares of the company’s stock after selling 77,571 shares during the period. Ameriprise Financial Inc. owned 0.49% of Nelnet worth $7,287,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of NNI. LSV Asset Management boosted its position in Nelnet by 0.9% in the second quarter. LSV Asset Management now owns 937,725 shares of the company’s stock worth $32,585,000 after buying an additional 8,160 shares during the period. Boston Partners boosted its position in Nelnet by 7.7% in the second quarter. Boston Partners now owns 867,701 shares of the company’s stock worth $30,153,000 after buying an additional 62,009 shares during the period. First Trust Advisors LP bought a new position in Nelnet during the second quarter worth approximately $1,490,000. California Public Employees Retirement System boosted its position in Nelnet by 4.3% in the second quarter. California Public Employees Retirement System now owns 93,200 shares of the company’s stock worth $3,239,000 after buying an additional 3,800 shares during the period. Finally, Emerald Acquisition Ltd. bought a new position in Nelnet during the second quarter worth approximately $5,613,000. 40.79% of the stock is owned by institutional investors and hedge funds.
Nelnet Inc. (NYSE:NNI) traded up 0.02% on Friday, hitting $40.22. 61,496 shares of the stock were exchanged. The company has a 50-day moving average price of $37.70 and a 200-day moving average price of $37.53. The firm has a market cap of $1.71 billion, a PE ratio of 8.55 and a beta of 0.97. Nelnet Inc. has a 52-week low of $27.80 and a 52-week high of $42.65.
Nelnet (NYSE:NNI) last announced its quarterly earnings data on Thursday, August 4th. The company reported $1.13 earnings per share for the quarter, missing the consensus estimate of $1.28 by $0.15. Nelnet had a return on equity of 12.39% and a net margin of 18.26%. During the same period in the previous year, the business posted $1.38 earnings per share. On average, equities research analysts anticipate that Nelnet Inc. will post $4.70 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend was Tuesday, August 30th. Nelnet’s dividend payout ratio (DPR) is currently 10.28%.
Separately, Compass Point dropped their target price on shares of Nelnet from $50.00 to $47.00 and set a “buy” rating for the company in a report on Monday, August 8th.
Nelnet Company Profile
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