Nelnet, Inc. (NYSE:NNI) Stake Reduced by Farmers & Merchants Investments Inc.

Farmers & Merchants Investments Inc. decreased its holdings in Nelnet, Inc. (NYSE:NNI - Free Report) by 0.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,181,819 shares of the credit services provider's stock after selling 6,552 shares during the period. Nelnet accounts for about 4.2% of Farmers & Merchants Investments Inc.'s portfolio, making the stock its 3rd biggest holding. Farmers & Merchants Investments Inc. owned approximately 3.26% of Nelnet worth $133,876,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in NNI. Covestor Ltd increased its holdings in Nelnet by 139.2% in the 1st quarter. Covestor Ltd now owns 806 shares of the credit services provider's stock valued at $76,000 after acquiring an additional 469 shares during the last quarter. Security National Bank of Sioux City Iowa IA purchased a new position in shares of Nelnet during the second quarter valued at about $212,000. SG Americas Securities LLC bought a new stake in shares of Nelnet in the first quarter worth about $209,000. ProShare Advisors LLC purchased a new stake in shares of Nelnet in the first quarter worth about $220,000. Finally, Dark Forest Capital Management LP bought a new position in Nelnet during the second quarter valued at approximately $331,000. Hedge funds and other institutional investors own 33.51% of the company's stock.

Nelnet Trading Up 0.3 %

NYSE NNI traded up $0.32 during trading hours on Tuesday, hitting $113.98. 24,205 shares of the company were exchanged, compared to its average volume of 76,045. The stock has a market cap of $4.13 billion, a PE ratio of 27.27 and a beta of 0.92. The company has a quick ratio of 33.51, a current ratio of 33.51 and a debt-to-equity ratio of 2.97. The stock has a 50-day moving average price of $112.46 and a 200 day moving average price of $106.51. Nelnet, Inc. has a 52 week low of $82.22 and a 52 week high of $116.13.

Nelnet (NYSE:NNI - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The credit services provider reported $1.20 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.13). Nelnet had a net margin of 7.44% and a return on equity of 4.71%. The firm had revenue of $324.90 million for the quarter. Analysts forecast that Nelnet, Inc. will post 5.82 earnings per share for the current fiscal year.

Nelnet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend was Friday, August 30th. Nelnet's dividend payout ratio is currently 26.79%.

Analyst Upgrades and Downgrades

NNI has been the topic of several recent research reports. TD Cowen upped their price objective on Nelnet from $96.00 to $98.00 and gave the stock a "hold" rating in a report on Monday, August 12th. StockNews.com downgraded shares of Nelnet from a "buy" rating to a "hold" rating in a research note on Monday, August 12th.

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.