AQR Capital Management LLC Acquires 2,277 Shares of Nelnet, Inc. (NYSE:NNI)

AQR Capital Management LLC lifted its holdings in Nelnet, Inc. (NYSE:NNI) by 50.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,789 shares of the credit services provider’s stock after buying an additional 2,277 shares during the quarter. AQR Capital Management LLC’s holdings in Nelnet were worth $685,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Covestor Ltd increased its stake in shares of 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. SG Americas Securities LLC acquired a new position in Nelnet during the 1st quarter worth approximately $209,000. ProShare Advisors LLC acquired a new position in Nelnet during the 1st quarter worth approximately $220,000. Hsbc Holdings PLC boosted its holdings in shares of Nelnet by 34.9% in the 2nd quarter. Hsbc Holdings PLC now owns 3,443 shares of the credit services provider’s stock valued at $348,000 after buying an additional 890 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Nelnet in the 2nd quarter valued at approximately $535,000. 33.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NNI. StockNews.com cut Nelnet from a “buy” rating to a “hold” rating in a research report on Monday, August 12th. TD Cowen lifted 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.

Nelnet Price Performance

Shares of NYSE:NNI opened at $112.66 on Monday. The stock’s 50 day moving average is $111.22 and its 200-day moving average is $104.94. Nelnet, Inc. has a twelve month low of $81.67 and a twelve month high of $116.13. The firm has a market capitalization of $4.10 billion, a price-to-earnings ratio of 30.45 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 announced its quarterly earnings data 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). The business had revenue of $324.90 million during the quarter. Nelnet had a net margin of 7.44% and a return on equity of 4.71%. Sell-side analysts forecast that Nelnet, Inc. will post 5.82 EPS for the current fiscal year.

Nelnet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.12 annualized dividend and a dividend yield of 0.99%. Nelnet’s payout ratio is 30.27%.

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.