Vanguard Group Inc. Buys 4,819 Shares of Nelnet, Inc. $NNI

Vanguard Group Inc. grew its position in shares of Nelnet, Inc. (NYSE:NNI) by 0.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,546,041 shares of the credit services provider’s stock after buying an additional 4,819 shares during the quarter. Vanguard Group Inc. owned 4.27% of Nelnet worth $193,843,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of NNI. Geode Capital Management LLC lifted its holdings in Nelnet by 0.4% in the second quarter. Geode Capital Management LLC now owns 383,849 shares of the credit services provider’s stock valued at $46,499,000 after acquiring an additional 1,443 shares during the period. JPMorgan Chase & Co. increased its position in shares of Nelnet by 7.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 185,029 shares of the credit services provider’s stock valued at $23,199,000 after purchasing an additional 12,941 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Nelnet by 18.0% in the 2nd quarter. American Century Companies Inc. now owns 143,014 shares of the credit services provider’s stock worth $17,322,000 after purchasing an additional 21,782 shares during the period. Bar Harbor Wealth Management boosted its holdings in shares of Nelnet by 0.9% in the third quarter. Bar Harbor Wealth Management now owns 110,594 shares of the credit services provider’s stock worth $13,866,000 after buying an additional 1,028 shares during the last quarter. Finally, Qube Research & Technologies Ltd increased its holdings in Nelnet by 66.4% during the second quarter. Qube Research & Technologies Ltd now owns 96,840 shares of the credit services provider’s stock valued at $11,729,000 after buying an additional 38,628 shares during the last quarter. Institutional investors own 33.51% of the company’s stock.

Nelnet Stock Down 1.6%

NYSE NNI opened at $129.23 on Monday. Nelnet, Inc. has a 12 month low of $98.15 and a 12 month high of $142.87. The company has a current ratio of 28.98, a quick ratio of 28.98 and a debt-to-equity ratio of 2.18. The stock has a market cap of $4.64 billion, a PE ratio of 10.98 and a beta of 0.82. The stock’s 50 day moving average is $132.81 and its 200 day moving average is $130.32.

Nelnet (NYSE:NNI) last announced its quarterly earnings data on Thursday, February 26th. The credit services provider reported $1.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.07). Nelnet had a net margin of 18.99% and a return on equity of 12.52%. The company had revenue of $390.43 million for the quarter, compared to analysts’ expectations of $382.00 million. Research analysts predict that Nelnet, Inc. will post 4.52 EPS for the current fiscal year.

Nelnet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be paid a $0.33 dividend. The ex-dividend date is Friday, February 27th. This represents a $1.32 annualized dividend and a yield of 1.0%. Nelnet’s payout ratio is presently 11.21%.

Insider Buying and Selling

In other Nelnet news, Director Deun Jona M. Van sold 400 shares of the stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $128.95, for a total transaction of $51,580.00. Following the completion of the transaction, the director owned 704 shares of the company’s stock, valued at $90,780.80. This represents a 36.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 50.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. TD Cowen reiterated a “hold” rating on shares of Nelnet in a research note on Thursday, January 8th. Wall Street Zen cut Nelnet from a “strong-buy” rating to a “hold” rating in a report on Saturday, November 15th. Finally, Zacks Research raised Nelnet from a “hold” rating to a “strong-buy” rating in a report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.00.

Nelnet Company Profile

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.