Edgestream Partners L.P. Buys New Holdings in Nelnet, Inc. (NYSE:NNI)

Edgestream Partners L.P. purchased a new stake in Nelnet, Inc. (NYSE:NNI - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 7,512 shares of the credit services provider's stock, valued at approximately $851,000.

A number of other large investors have also made changes to their positions in the company. FMR LLC boosted its holdings in shares of Nelnet by 20.3% in the third quarter. FMR LLC now owns 556 shares of the credit services provider's stock valued at $63,000 after buying an additional 94 shares during the period. Security National Bank of Sioux City Iowa IA bought a new stake in Nelnet in the second quarter valued at approximately $212,000. Quest Partners LLC lifted its position in shares of Nelnet by 34,283.3% in the third quarter. Quest Partners LLC now owns 2,063 shares of the credit services provider's stock valued at $234,000 after buying an additional 2,057 shares during the last quarter. Landscape Capital Management L.L.C. bought a new position in shares of Nelnet during the 3rd quarter worth approximately $288,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Nelnet during the 3rd quarter worth approximately $306,000. Institutional investors own 33.51% of the company's stock.

Insider Buying and Selling at Nelnet

In other Nelnet news, insider William J. Munn sold 2,500 shares of the company's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $108.89, for a total value of $272,225.00. Following the sale, the insider now owns 9,354 shares in the company, valued at approximately $1,018,557.06. The trade was a 21.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 50.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NNI. StockNews.com lowered Nelnet from a "buy" rating to a "hold" rating in a research note on Monday, August 12th. TD Cowen upped their price objective on shares of Nelnet from $96.00 to $98.00 and gave the stock a "hold" rating in a research report on Monday, August 12th.

Nelnet Price Performance

NYSE NNI traded down $1.28 on Thursday, hitting $107.85. 41,423 shares of the company's stock were exchanged, compared to its average volume of 74,118. The company has a current ratio of 31.47, a quick ratio of 31.47 and a debt-to-equity ratio of 2.78. Nelnet, Inc. has a 52 week low of $82.22 and a 52 week high of $127.32. The stock has a market cap of $3.91 billion, a price-to-earnings ratio of 35.94 and a beta of 0.90. The stock has a 50-day moving average of $111.88 and a 200-day moving average of $108.89.

Nelnet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.04%. The ex-dividend date is Monday, December 2nd. Nelnet's payout ratio is 36.84%.

Nelnet Company Profile

Nelnet, Inc engages in loan servicing, communications, education technology, services, and payment processing businesses worldwide. The Loan Servicing and Systems segment provides loan conversion, application processing, borrower updates, customer service, payment processing, due diligence procedures, funds management reconciliation, and claim processing services.