NorthCrest Asset Manangement LLC Buys Shares of 7,640 Nelnet, Inc. (NYSE:NNI)

NorthCrest Asset Manangement LLC purchased a new position in shares of Nelnet, Inc. (NYSE:NNI - Free Report) in the third quarter, according to its most recent filing with the SEC. The firm purchased 7,640 shares of the credit services provider's stock, valued at approximately $865,000.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Nelnet by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 1,313,570 shares of the credit services provider's stock valued at $124,329,000 after acquiring an additional 3,485 shares during the period. Farmers & Merchants Investments Inc. raised its stake in Nelnet by 1.4% in the first quarter. Farmers & Merchants Investments Inc. now owns 1,206,546 shares of the credit services provider's stock worth $114,200,000 after buying an additional 16,820 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Nelnet by 4.9% during the second quarter. American Century Companies Inc. now owns 122,055 shares of the credit services provider's stock valued at $12,310,000 after purchasing an additional 5,752 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Nelnet by 1.1% during the second quarter. Bank of New York Mellon Corp now owns 118,046 shares of the credit services provider's stock valued at $11,906,000 after buying an additional 1,280 shares during the last quarter. Finally, Lawson Kroeker Investment Management Inc. NE boosted its holdings in Nelnet by 0.9% in the second quarter. Lawson Kroeker Investment Management Inc. NE now owns 102,586 shares of the credit services provider's stock worth $10,347,000 after purchasing an additional 910 shares during the last quarter. 33.51% of the stock is currently owned by institutional investors and hedge funds.

Nelnet Price Performance

Shares of NYSE NNI traded up $1.32 during mid-day trading on Monday, reaching $113.66. The company's stock had a trading volume of 47,913 shares, compared to its average volume of 76,294. The stock has a 50-day moving average of $112.40 and a two-hundred day moving average of $106.37. The stock has a market capitalization of $4.12 billion, a P/E ratio of 27.19 and a beta of 0.92. The company has a debt-to-equity ratio of 2.97, a quick ratio of 33.51 and a current ratio of 33.51. Nelnet, Inc. has a 1-year low of $82.22 and a 1-year high of $116.13.

Nelnet (NYSE:NNI - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.33 by ($0.13). The company had revenue of $324.90 million during the quarter. Nelnet had a net margin of 7.44% and a return on equity of 4.71%. On average, equities research analysts anticipate that Nelnet, Inc. will post 5.82 EPS for the current fiscal year.

Nelnet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.12 annualized dividend and a dividend yield of 0.99%. Nelnet's dividend payout ratio is presently 26.79%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NNI. StockNews.com downgraded shares of Nelnet from a "buy" rating to a "hold" rating in a research report on Monday, August 12th. TD Cowen boosted their price objective on shares of Nelnet from $96.00 to $98.00 and gave the company a "hold" rating in a research report on Monday, August 12th.

About Nelnet

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.