Vanguard Group Inc. Grows Position in Nelnet, Inc. (NYSE:NNI)

Vanguard Group Inc. boosted its holdings in Nelnet, Inc. (NYSE:NNI - Free Report) by 8.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,347,756 shares of the credit services provider's stock after buying an additional 99,885 shares during the quarter. Vanguard Group Inc. owned approximately 3.71% of Nelnet worth $143,954,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Christopher J. Hasenberg Inc bought a new stake in Nelnet in the fourth quarter worth approximately $38,000. Blue Trust Inc. grew its position in shares of Nelnet by 1,293.1% during the 4th quarter. Blue Trust Inc. now owns 404 shares of the credit services provider's stock worth $46,000 after buying an additional 375 shares during the period. FMR LLC increased its stake in shares of Nelnet by 20.3% in the 3rd quarter. FMR LLC now owns 556 shares of the credit services provider's stock valued at $63,000 after acquiring an additional 94 shares in the last quarter. MML Investors Services LLC lifted its position in shares of Nelnet by 7.4% during the 3rd quarter. MML Investors Services LLC now owns 2,279 shares of the credit services provider's stock valued at $258,000 after acquiring an additional 157 shares during the period. Finally, Handelsbanken Fonder AB boosted its stake in Nelnet by 51.0% during the fourth quarter. Handelsbanken Fonder AB now owns 3,551 shares of the credit services provider's stock worth $379,000 after acquiring an additional 1,200 shares in the last quarter. 33.51% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

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

Nelnet Stock Up 0.2 %

NYSE:NNI traded up $0.16 on Friday, hitting $104.32. The stock had a trading volume of 42,325 shares, compared to its average volume of 61,623. The company has a market cap of $3.79 billion, a PE ratio of 34.32 and a beta of 0.88. Nelnet, Inc. has a 52 week low of $92.79 and a 52 week high of $127.32. The business's fifty day moving average is $112.13 and its 200 day moving average is $110.68. The company has a quick ratio of 31.47, a current ratio of 31.47 and a debt-to-equity ratio of 2.78.

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

Nelnet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.28 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.07%. Nelnet's dividend payout ratio is presently 22.40%.

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.