Farmers & Merchants Investments Inc. Acquires 5,708 Shares of Nelnet, Inc. (NYSE:NNI)

Farmers & Merchants Investments Inc. raised its position in Nelnet, Inc. (NYSE:NNI - Free Report) by 0.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,187,527 shares of the credit services provider's stock after acquiring an additional 5,708 shares during the quarter. Nelnet makes up approximately 4.0% of Farmers & Merchants Investments Inc.'s portfolio, making the stock its 3rd biggest position. Farmers & Merchants Investments Inc. owned 3.27% of Nelnet worth $126,840,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the stock. Blue Trust Inc. lifted its stake in Nelnet by 1,293.1% in the fourth quarter. Blue Trust Inc. now owns 404 shares of the credit services provider's stock worth $46,000 after acquiring an additional 375 shares during the last quarter. Christopher J. Hasenberg Inc acquired a new stake in shares of Nelnet in the 4th quarter valued at $38,000. Bar Harbor Wealth Management lifted its position in shares of Nelnet by 2.4% during the 4th quarter. Bar Harbor Wealth Management now owns 109,666 shares of the credit services provider's stock worth $11,713,000 after purchasing an additional 2,577 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of Nelnet by 8.6% during the fourth quarter. Harbor Capital Advisors Inc. now owns 5,902 shares of the credit services provider's stock worth $630,000 after purchasing an additional 468 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Nelnet by 0.4% in the third quarter. Geode Capital Management LLC now owns 360,493 shares of the credit services provider's stock valued at $40,846,000 after buying an additional 1,572 shares during the last quarter. Hedge funds and other institutional investors own 33.51% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Nelnet from a "hold" rating to a "buy" rating in a report on Wednesday.

Nelnet Stock Down 0.8 %

Shares of NYSE NNI traded down $0.91 during mid-day trading on Wednesday, reaching $111.44. The company had a trading volume of 40,128 shares, compared to its average volume of 38,447. The firm has a 50 day simple moving average of $108.14 and a two-hundred day simple moving average of $110.32. Nelnet, Inc. has a 52-week low of $83.75 and a 52-week high of $127.32. The company has a current ratio of 31.47, a quick ratio of 31.47 and a debt-to-equity ratio of 2.78. The stock has a market cap of $4.04 billion, a P/E ratio of 36.66 and a beta of 0.91.

Nelnet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend is Friday, February 28th. Nelnet's dividend payout ratio (DPR) is currently 36.84%.

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.