Kingsview Wealth Management LLC Buys Shares of 23,071 Nelnet, Inc. (NYSE:NNI)

Kingsview Wealth Management LLC bought a new position in shares of Nelnet, Inc. (NYSE:NNI - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 23,071 shares of the credit services provider's stock, valued at approximately $2,613,000. Kingsview Wealth Management LLC owned 0.06% of Nelnet at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Quest Partners LLC lifted its position in Nelnet by 34,283.3% during the third quarter. Quest Partners LLC now owns 2,063 shares of the credit services provider's stock valued at $234,000 after purchasing an additional 2,057 shares during the last quarter. Security National Bank of Sioux City Iowa IA purchased a new stake in Nelnet during the second quarter valued at about $212,000. ProShare Advisors LLC bought a new stake in Nelnet during the first quarter worth about $220,000. Landscape Capital Management L.L.C. bought a new stake in Nelnet during the third quarter worth about $288,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Nelnet in the 3rd quarter worth about $306,000. 33.51% of the stock is owned by institutional investors.

Nelnet Trading Up 1.5 %

NNI stock traded up $1.65 during midday trading on Monday, hitting $109.59. The company had a trading volume of 61,332 shares, compared to its average volume of 74,969. 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 $3.98 billion, a price-to-earnings ratio of 36.28 and a beta of 0.92. The stock's 50 day moving average price is $112.52 and its 200 day moving average price is $108.80.

Nelnet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.28 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.12 annualized dividend and a dividend yield of 1.02%. Nelnet's dividend payout ratio (DPR) is presently 36.84%.

Analyst Ratings Changes

Several brokerages have issued reports on NNI. TD Cowen upped their target price on Nelnet from $96.00 to $98.00 and gave the stock a "hold" rating in a research note on Monday, August 12th. StockNews.com downgraded shares of Nelnet from a "buy" rating to a "hold" rating in a research note on Monday, August 12th.

Insider Activity at Nelnet

In other news, insider William J. Munn sold 2,500 shares of the firm's stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $108.89, for a total value of $272,225.00. Following the completion of the transaction, the insider now owns 9,354 shares in the company, valued at $1,018,557.06. This trade represents a 21.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 50.10% of the stock is owned by corporate insiders.

Nelnet 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.