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

Creative Planning lifted its holdings in shares of Nelnet, Inc. (NYSE:NNI) by 7.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,758 shares of the credit services provider’s stock after acquiring an additional 310 shares during the quarter. Creative Planning’s holdings in Nelnet were worth $539,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in NNI. Covestor Ltd lifted its holdings in shares of Nelnet by 139.2% during 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 in the last quarter. SG Americas Securities LLC acquired a new position in shares of Nelnet during the 1st quarter valued at $209,000. Security National Bank of Sioux City Iowa IA acquired a new position in shares of Nelnet during the 2nd quarter valued at $212,000. ProShare Advisors LLC acquired a new position in shares of Nelnet during the 1st quarter valued at $220,000. Finally, Dark Forest Capital Management LP acquired a new position in shares of Nelnet during the 2nd quarter valued at $331,000. Institutional investors and hedge funds own 33.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on NNI shares. TD Cowen boosted their price objective on shares of Nelnet from $96.00 to $98.00 and gave the stock a “hold” rating in a report on Monday, August 12th. StockNews.com lowered shares of Nelnet from a “buy” rating to a “hold” rating in a report on Monday, August 12th.

Nelnet Stock Performance

Shares of NNI stock opened at $116.58 on Wednesday. Nelnet, Inc. has a 12 month low of $82.22 and a 12 month high of $117.46. 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 firm has a market capitalization of $4.23 billion, a P/E ratio of 27.89 and a beta of 0.92. The company’s fifty day moving average price is $112.86 and its two-hundred day moving average price is $107.36.

Nelnet (NYSE:NNI) last issued its quarterly earnings data on Thursday, August 8th. The credit services provider reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.13). The firm had revenue of $324.90 million during the quarter. Nelnet had a return on equity of 4.71% and a net margin of 7.44%. On average, research analysts anticipate that Nelnet, Inc. will post 5.82 earnings per share for the current fiscal year.

Nelnet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend was Friday, August 30th. Nelnet’s payout ratio is currently 26.79%.

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.