Squarepoint Ops LLC Sells 10,212 Shares of Nelnet, Inc. (NYSE:NNI)

Squarepoint Ops LLC reduced its holdings in shares of Nelnet, Inc. (NYSE:NNI) by 42.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,703 shares of the credit services provider’s stock after selling 10,212 shares during the quarter. Squarepoint Ops LLC’s holdings in Nelnet were worth $1,382,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in NNI. Cubist Systematic Strategies LLC boosted its holdings in shares of Nelnet by 297.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 6,881 shares of the credit services provider’s stock worth $694,000 after buying an additional 5,148 shares during the period. Bank of Montreal Can acquired a new stake in Nelnet during the second quarter worth approximately $637,000. XTX Topco Ltd bought a new stake in shares of Nelnet during the second quarter worth approximately $535,000. Hsbc Holdings PLC grew its position in shares of Nelnet by 34.9% in the second quarter. Hsbc Holdings PLC now owns 3,443 shares of the credit services provider’s stock valued at $348,000 after purchasing an additional 890 shares during the last quarter. Finally, Denali Advisors LLC increased its stake in shares of Nelnet by 33.0% during the second quarter. Denali Advisors LLC now owns 64,510 shares of the credit services provider’s stock worth $6,506,000 after purchasing an additional 16,000 shares during the period. 33.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NNI has been the subject of several recent research reports. TD Cowen boosted their price target on Nelnet from $96.00 to $98.00 and gave the company a “hold” rating in a research note on Monday, August 12th. StockNews.com cut shares of Nelnet from a “buy” rating to a “hold” rating in a research report on Monday, August 12th.

Nelnet Stock Performance

Shares of NYSE:NNI opened at $112.97 on Friday. Nelnet, Inc. has a 12-month low of $81.67 and a 12-month high of $116.13. The company’s 50 day moving average price is $111.16 and its two-hundred day moving average price is $104.22. The firm has a market cap of $4.11 billion, a PE ratio of 30.53 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.

Nelnet (NYSE:NNI) last issued 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). Nelnet had a return on equity of 4.71% and a net margin of 7.44%. The company had revenue of $324.90 million for the quarter. Equities research analysts predict that Nelnet, Inc. will post 5.9 earnings per share for the current year.

Nelnet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date was Friday, August 30th. Nelnet’s payout ratio is currently 30.27%.

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.