HighTower Advisors LLC Grows Stock Position in Nelnet, Inc. (NYSE:NNI)

HighTower Advisors LLC increased its stake in shares of Nelnet, Inc. (NYSE:NNI - Free Report) by 25.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 76,896 shares of the credit services provider's stock after purchasing an additional 15,445 shares during the quarter. HighTower Advisors LLC owned 0.21% of Nelnet worth $8,213,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Farmers & Merchants Investments Inc. boosted its holdings in Nelnet by 0.5% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 1,187,527 shares of the credit services provider's stock valued at $126,840,000 after acquiring an additional 5,708 shares during the period. Proficio Capital Partners LLC boosted its holdings in Nelnet by 16,773.6% during the 4th quarter. Proficio Capital Partners LLC now owns 482,247 shares of the credit services provider's stock valued at $482,000 after acquiring an additional 479,389 shares during the period. Geode Capital Management LLC boosted its holdings in Nelnet by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 360,493 shares of the credit services provider's stock valued at $40,846,000 after acquiring an additional 1,572 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Nelnet by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 201,969 shares of the credit services provider's stock valued at $21,572,000 after acquiring an additional 2,778 shares during the period. Finally, Bar Harbor Wealth Management boosted its holdings in Nelnet by 2.4% during the 4th quarter. Bar Harbor Wealth Management now owns 109,666 shares of the credit services provider's stock valued at $11,713,000 after acquiring an additional 2,577 shares during the period. Institutional investors own 33.51% of the company's stock.

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Wall Street Analyst Weigh In

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

Nelnet Stock Down 2.0 %

Shares of NNI stock traded down $2.27 during mid-day trading on Friday, hitting $111.74. The stock had a trading volume of 145,322 shares, compared to its average volume of 47,852. Nelnet, Inc. has a 12-month low of $90.68 and a 12-month high of $127.32. The firm has a market capitalization of $4.06 billion, a P/E ratio of 36.76 and a beta of 0.89. The firm's 50-day moving average is $112.45 and its two-hundred day moving average is $111.20. The company has a debt-to-equity ratio of 2.78, a current ratio of 31.47 and a quick ratio of 31.47.

Nelnet (NYSE:NNI - Get Free Report) last issued its earnings results on Thursday, February 27th. The credit services provider reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.21. Nelnet had a return on equity of 3.78% and a net margin of 5.54%. The business had revenue of $401.61 million during the quarter, compared to analysts' expectations of $335.00 million. On average, analysts predict that Nelnet, Inc. will post 4.52 earnings per share for the current fiscal year.

Nelnet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend was Friday, February 28th. 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.