Nelnet, Inc. (NYSE:NNI) Shares Bought by Proficio Capital Partners LLC

Proficio Capital Partners LLC raised its stake in Nelnet, Inc. (NYSE:NNI - Free Report) by 16,773.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 482,247 shares of the credit services provider's stock after purchasing an additional 479,389 shares during the quarter. Proficio Capital Partners LLC owned 1.33% of Nelnet worth $482,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of NNI. Kingsview Wealth Management LLC purchased a new stake in Nelnet during the third quarter worth $2,613,000. MML Investors Services LLC boosted its position in Nelnet by 7.4% during the third quarter. MML Investors Services LLC now owns 2,279 shares of the credit services provider's stock worth $258,000 after purchasing an additional 157 shares in the last quarter. Barclays PLC boosted its position in Nelnet by 127.4% during the third quarter. Barclays PLC now owns 28,996 shares of the credit services provider's stock worth $3,285,000 after purchasing an additional 16,245 shares in the last quarter. Intech Investment Management LLC purchased a new stake in Nelnet during the third quarter worth $323,000. Finally, Edgestream Partners L.P. acquired a new position in shares of Nelnet in the third quarter worth $851,000. 33.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com raised Nelnet from a "hold" rating to a "buy" rating in a report on Tuesday, March 4th.

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Nelnet Price Performance

Shares of NYSE NNI traded up $1.99 during trading on Friday, reaching $115.57. The company had a trading volume of 47,644 shares, compared to its average volume of 44,138. Nelnet, Inc. has a twelve month low of $87.02 and a twelve month high of $127.32. The stock has a market capitalization of $4.19 billion, a PE ratio of 38.02 and a beta of 0.89. The stock has a 50-day moving average price of $111.57 and a two-hundred day moving average price of $111.18. 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 (NYSE:NNI - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The credit services provider reported $1.44 earnings per share for the quarter, topping analysts' consensus estimates of $1.23 by $0.21. The company had revenue of $401.61 million during the quarter, compared to analysts' expectations of $335.00 million. Nelnet had a return on equity of 3.78% and a net margin of 5.54%. As a group, sell-side analysts predict that Nelnet, Inc. will post 4.52 earnings per share for the current year.

Nelnet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a $0.28 dividend. The ex-dividend date is Friday, February 28th. This represents a $1.12 annualized dividend and a yield of 0.97%. Nelnet's payout ratio is currently 22.40%.

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.