Nelnet, Inc. (NNI) Stake Lowered by Bank of Montreal Can
Bank of Montreal Can lowered its position in Nelnet, Inc. (NYSE:NNI) by 26.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,819 shares of the credit services provider’s stock after selling 10,127 shares during the period. Bank of Montreal Can’s holdings in Nelnet were worth $1,308,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. increased its stake in shares of Nelnet by 2.0% in the first quarter. Victory Capital Management Inc. now owns 2,640 shares of the credit services provider’s stock worth $116,000 after buying an additional 53 shares during the period. Creative Planning increased its stake in shares of Nelnet by 1.5% in the first quarter. Creative Planning now owns 3,046 shares of the credit services provider’s stock worth $134,000 after buying an additional 46 shares during the period. TFS Capital LLC purchased a new stake in shares of Nelnet during the first quarter worth $277,000. Marshall Wace LLP purchased a new stake in shares of Nelnet during the first quarter worth $376,000. Finally, Karp Capital Management Corp purchased a new stake in shares of Nelnet during the first quarter worth $377,000. 41.07% of the stock is owned by institutional investors.
Shares of Nelnet, Inc. (NYSE NNI) traded down 0.77% during mid-day trading on Friday, hitting $45.40. 179,888 shares of the stock were exchanged. The stock’s 50-day moving average is $47.74 and its 200-day moving average is $45.53. Nelnet, Inc. has a 52 week low of $34.38 and a 52 week high of $55.01. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of 7.36 and a beta of 0.97.
Nelnet (NYSE:NNI) last released its quarterly earnings data on Monday, August 7th. The credit services provider reported $1.08 EPS for the quarter, meeting analysts’ consensus estimates of $1.08. Nelnet had a net margin of 20.19% and a return on equity of 9.65%. The company had revenue of $161.70 million during the quarter, compared to analyst estimates of $182.02 million. During the same period last year, the business earned $1.13 earnings per share. Analysts forecast that Nelnet, Inc. will post $4.50 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be given a $0.14 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.23%. Nelnet’s dividend payout ratio (DPR) is currently 9.09%.
A number of analysts have recently weighed in on NNI shares. BidaskClub raised shares of Nelnet from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. TheStreet raised shares of Nelnet from a “d+” rating to a “c” rating in a report on Tuesday, August 8th. Finally, Compass Point downgraded shares of Nelnet from a “buy” rating to a “neutral” rating and set a $52.00 price target for the company. in a report on Wednesday, August 9th.
In other news, major shareholder Angie Muhleisen sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $47.57, for a total value of $95,140.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 45.40% 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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