Nelnet, Inc. (NYSE:NNI) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC lifted its stake in shares of Nelnet, Inc. (NYSE:NNI) by 0.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 360,493 shares of the credit services provider’s stock after buying an additional 1,572 shares during the period. Geode Capital Management LLC owned approximately 0.99% of Nelnet worth $40,846,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. FMR LLC increased its holdings in Nelnet by 20.3% in the 3rd quarter. FMR LLC now owns 556 shares of the credit services provider’s stock worth $63,000 after buying an additional 94 shares during the period. Security National Bank of Sioux City Iowa IA acquired a new stake in shares of Nelnet in the second quarter worth $212,000. Quest Partners LLC raised its holdings in shares of Nelnet by 34,283.3% during the third quarter. Quest Partners LLC now owns 2,063 shares of the credit services provider’s stock worth $234,000 after purchasing an additional 2,057 shares during the last quarter. MML Investors Services LLC lifted its position in Nelnet by 7.4% during the third quarter. MML Investors Services LLC now owns 2,279 shares of the credit services provider’s stock valued at $258,000 after purchasing an additional 157 shares during the period. Finally, Landscape Capital Management L.L.C. purchased a new stake in Nelnet in the third quarter valued at $288,000. 33.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com cut Nelnet from a “buy” rating to a “hold” rating in a report on Tuesday.

Nelnet Price Performance

Shares of NYSE NNI opened at $106.35 on Wednesday. The company has a debt-to-equity ratio of 2.78, a current ratio of 31.47 and a quick ratio of 31.47. The stock has a market capitalization of $3.86 billion, a price-to-earnings ratio of 34.98 and a beta of 0.90. The firm’s 50 day simple moving average is $110.65 and its 200-day simple moving average is $109.15. Nelnet, Inc. has a 12 month low of $82.22 and a 12 month high of $127.32.

Nelnet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a $0.28 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.12 dividend on an annualized basis and a yield of 1.05%. Nelnet’s payout ratio is 36.84%.

Insiders Place Their Bets

In other news, insider William J. Munn sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $108.89, for a total transaction of $272,225.00. Following the sale, the insider now directly owns 9,354 shares in the company, valued at $1,018,557.06. This trade represents a 21.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 50.10% of the company’s stock.

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.