Dean Investment Associates LLC Sells 34,663 Shares of Nelnet, Inc. (NYSE:NNI)

Dean Investment Associates LLC trimmed its position in Nelnet, Inc. (NYSE:NNI - Free Report) by 71.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,169 shares of the credit services provider's stock after selling 34,663 shares during the quarter. Dean Investment Associates LLC's holdings in Nelnet were worth $1,605,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of NNI. FMR LLC lifted its stake in Nelnet by 20.3% in the 3rd quarter. FMR LLC now owns 556 shares of the credit services provider's stock worth $63,000 after purchasing an additional 94 shares in the last quarter. Security National Bank of Sioux City Iowa IA bought a new position in shares of Nelnet in the second quarter worth $212,000. Quest Partners LLC raised 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 worth $234,000 after buying an additional 2,057 shares in the last quarter. Landscape Capital Management L.L.C. bought a new stake in Nelnet during the third quarter valued at $288,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Nelnet during the third quarter worth about $306,000. 33.51% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NNI has been the subject of a number of research analyst reports. TD Cowen lifted their price target on Nelnet from $96.00 to $98.00 and gave the company a "hold" rating in a research report on Monday, August 12th. StockNews.com raised shares of Nelnet from a "hold" rating to a "buy" rating in a research note on Friday.

Nelnet Price Performance

NYSE NNI traded down $0.26 during trading hours on Monday, reaching $108.26. 60,847 shares of the stock traded hands, compared to its average volume of 73,983. The company has a debt-to-equity ratio of 2.78, a current ratio of 31.47 and a quick ratio of 31.47. The stock has a 50 day simple moving average of $111.62 and a two-hundred day simple moving average of $108.91. Nelnet, Inc. has a 1 year low of $82.22 and a 1 year high of $127.32. The company has a market cap of $3.93 billion, a price-to-earnings ratio of 35.61 and a beta of 0.90.

Nelnet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Monday, December 2nd. Nelnet's dividend payout ratio (DPR) is presently 36.84%.

Insider Transactions at Nelnet

In other news, insider William J. Munn sold 2,500 shares of the business'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 completion of the sale, the insider now owns 9,354 shares of the company's stock, valued at approximately $1,018,557.06. The trade was a 21.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 50.10% of the company's stock.

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.