Bank of Montreal Can Takes Position in Nelnet, Inc. (NYSE:NNI)

Bank of Montreal Can purchased a new position in shares of Nelnet, Inc. (NYSE:NNI) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,277 shares of the credit services provider’s stock, valued at approximately $637,000.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Nelnet by 0.3% in 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 buying an additional 3,485 shares in the last quarter. Farmers & Merchants Investments Inc. lifted its stake in Nelnet by 1.4% during 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 purchasing an additional 16,820 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Nelnet by 4.9% in the 2nd 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 increased its stake in shares of Nelnet by 1.1% in the 2nd 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 purchasing an additional 1,280 shares during the last quarter. Finally, Lawson Kroeker Investment Management Inc. NE raised its holdings in shares of Nelnet by 0.9% during the 2nd quarter. Lawson Kroeker Investment Management Inc. NE now owns 102,586 shares of the credit services provider’s stock worth $10,347,000 after buying an additional 910 shares in the last quarter. Institutional investors and hedge funds own 33.51% of the company’s stock.

Nelnet Stock Down 0.4 %

Shares of NYSE:NNI opened at $111.34 on Wednesday. Nelnet, Inc. has a 52-week low of $81.67 and a 52-week high of $116.13. The company has a market capitalization of $4.05 billion, a PE ratio of 30.09 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. The company has a fifty day moving average of $111.11 and a 200-day moving average of $104.61.

Nelnet (NYSE:NNI) last issued its quarterly earnings data 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%. On average, equities analysts predict that Nelnet, Inc. will post 5.9 EPS for the current fiscal year.

Nelnet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.01%. The ex-dividend date was Friday, August 30th. Nelnet’s dividend payout ratio is currently 30.27%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NNI. StockNews.com lowered Nelnet from a “buy” rating to a “hold” rating in a research note on Monday, August 12th. TD Cowen raised their price target on shares of Nelnet from $96.00 to $98.00 and gave the company a “hold” rating in a research note on Monday, August 12th.

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.