Dimensional Fund Advisors LP Has $207.61 Million Stock Holdings in Nelnet, Inc. (NYSE:NNI)

Dimensional Fund Advisors LP cut its stake in shares of Nelnet, Inc. (NYSE:NNI) by 1.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,058,427 shares of the credit services provider’s stock after selling 25,014 shares during the period. Dimensional Fund Advisors LP owned approximately 5.66% of Nelnet worth $207,613,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Principal Financial Group Inc. raised its position in shares of Nelnet by 3.4% during the fourth quarter. Principal Financial Group Inc. now owns 4,233 shares of the credit services provider’s stock worth $373,000 after purchasing an additional 141 shares during the period. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Nelnet by 3.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 6,760 shares of the credit services provider’s stock valued at $640,000 after purchasing an additional 222 shares in the last quarter. Anchor Capital Advisors LLC boosted its position in shares of Nelnet by 3.1% in the first quarter. Anchor Capital Advisors LLC now owns 12,931 shares of the credit services provider’s stock worth $1,224,000 after buying an additional 383 shares during the period. Covestor Ltd boosted its position in shares of Nelnet by 139.2% in the first quarter. Covestor Ltd now owns 806 shares of the credit services provider’s stock worth $76,000 after buying an additional 469 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Nelnet by 6.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,699 shares of the credit services provider’s stock valued at $729,000 after buying an additional 497 shares in the last quarter. 33.51% of the stock is owned by institutional investors and hedge funds.

Nelnet Trading Up 1.5 %

NYSE NNI opened at $114.95 on Friday. The company has a current ratio of 33.51, a quick ratio of 33.51 and a debt-to-equity ratio of 2.97. Nelnet, Inc. has a 1-year low of $81.67 and a 1-year high of $116.13. The firm’s fifty day simple moving average is $110.77 and its 200-day simple moving average is $102.26. The company has a market capitalization of $4.18 billion, a PE ratio of 31.07 and a beta of 0.92.

Nelnet (NYSE:NNI) last posted its quarterly earnings results on Thursday, August 8th. The credit services provider reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.13). The firm had revenue of $324.90 million for the quarter. Nelnet had a return on equity of 4.71% and a net margin of 7.44%. As a group, sell-side analysts anticipate that Nelnet, Inc. will post 5.9 earnings per share for the current fiscal year.

Nelnet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend was Friday, August 30th. Nelnet’s payout ratio is presently 30.27%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. TD Cowen increased their price objective on Nelnet from $96.00 to $98.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. StockNews.com lowered shares of Nelnet from a “buy” rating to 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.