Nelnet, Inc. (NYSE:NNI) Shares Acquired by Creative Planning

Creative Planning increased its position in shares of Nelnet, Inc. (NYSE:NNI) by 25.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,448 shares of the credit services provider’s stock after acquiring an additional 898 shares during the quarter. Creative Planning’s holdings in Nelnet were worth $449,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NNI. Covestor Ltd boosted its holdings in shares of Nelnet by 139.2% during the first quarter. Covestor Ltd now owns 806 shares of the credit services provider’s stock worth $76,000 after purchasing an additional 469 shares during the last quarter. Security National Bank of Sioux City Iowa IA acquired a new stake in Nelnet in the 2nd quarter worth about $212,000. SG Americas Securities LLC purchased a new stake in Nelnet in the 1st quarter valued at about $209,000. ProShare Advisors LLC acquired a new position in shares of Nelnet during the 1st quarter valued at about $220,000. Finally, Dark Forest Capital Management LP purchased a new position in shares of Nelnet during the 2nd quarter worth about $331,000. 33.51% of the stock is owned by hedge funds and other institutional investors.

Nelnet Stock Performance

Nelnet stock opened at $112.69 on Wednesday. The company has a market cap of $4.10 billion, a price-to-earnings ratio of 30.46 and a beta of 0.92. Nelnet, Inc. has a 12 month low of $81.67 and a 12 month high of $116.13. The company has a debt-to-equity ratio of 2.97, a current ratio of 33.51 and a quick ratio of 33.51. The stock’s 50-day moving average is $111.52 and its 200-day moving average is $105.27.

Nelnet (NYSE:NNI) last announced 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). Nelnet had a net margin of 7.44% and a return on equity of 4.71%. The business had revenue of $324.90 million for the quarter. Equities analysts anticipate that Nelnet, Inc. will post 5.82 earnings per share for the current year.

Nelnet Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.12 dividend on an annualized basis and a yield of 0.99%. Nelnet’s dividend payout ratio (DPR) is 30.27%.

Analysts Set New Price Targets

Several brokerages recently commented on NNI. StockNews.com lowered shares of Nelnet from a “buy” rating to a “hold” rating in a research report on Monday, August 12th. TD Cowen boosted their price objective 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.

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.