Schwab Charles Investment Management Inc. cut its position in shares of Nelnet, Inc. (NYSE:NNI) by 10.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 208,900 shares of the credit services provider’s stock after selling 23,108 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in Nelnet were worth $12,202,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in NNI. SG Americas Securities LLC bought a new position in Nelnet during the first quarter worth $100,000. Quantbot Technologies LP bought a new stake in Nelnet in the first quarter valued at $104,000. Xact Kapitalforvaltning AB bought a new stake in Nelnet in the first quarter valued at $254,000. Victory Capital Management Inc. lifted its stake in Nelnet by 28.4% in the first quarter. Victory Capital Management Inc. now owns 5,219 shares of the credit services provider’s stock valued at $274,000 after buying an additional 1,155 shares during the last quarter. Finally, Hartford Investment Management Co. bought a new stake in Nelnet in the second quarter valued at $281,000. Hedge funds and other institutional investors own 37.47% of the company’s stock.

NNI stock opened at $59.02 on Thursday. The company has a current ratio of 112.77, a quick ratio of 112.77 and a debt-to-equity ratio of 9.83. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of 11.50 and a beta of 0.81. Nelnet, Inc. has a 1 year low of $48.17 and a 1 year high of $64.00.

Nelnet (NYSE:NNI) last posted its earnings results on Tuesday, August 7th. The credit services provider reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.02. The company had revenue of $257.96 million for the quarter. Nelnet had a return on equity of 9.45% and a net margin of 17.02%.

The business also recently announced a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Friday, August 31st were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend was Thursday, August 30th.

A number of equities research analysts have issued reports on the company. TheStreet upgraded Nelnet from a “d+” rating to a “c” rating in a research note on Thursday, May 24th. ValuEngine cut Nelnet from a “buy” rating to a “hold” rating in a research note on Thursday, July 26th.

In other Nelnet news, major shareholder Angie Muhleisen sold 1,000 shares of the firm’s stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $56.42, for a total value of $56,420.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 46.10% of the company’s stock.

Nelnet Company Profile

Nelnet, Inc provides education related products and services, and loan asset management services worldwide. The company's Loan Systems and Servicing segment is involved in loan servicing activities, such as loan conversion, application processing, borrower updates, customer service, payment processing, due diligence procedures, funds management reconciliation, and claim processing activities for student loan portfolio and third-party clients.

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Institutional Ownership by Quarter for Nelnet (NYSE:NNI)

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