MML Investors Services LLC Increases Stock Holdings in Nelnet, Inc. (NYSE:NNI)

MML Investors Services LLC increased its stake in shares of Nelnet, Inc. (NYSE:NNI) by 7.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,279 shares of the credit services provider’s stock after purchasing an additional 157 shares during the quarter. MML Investors Services LLC’s holdings in Nelnet were worth $258,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Edgestream Partners L.P. bought a new position in Nelnet during the third quarter valued at $851,000. Crawford Fund Management LLC boosted its stake in shares of Nelnet by 0.4% during the 3rd quarter. Crawford Fund Management LLC now owns 57,787 shares of the credit services provider’s stock worth $6,546,000 after purchasing an additional 217 shares during the period. FMR LLC grew its holdings in Nelnet by 20.3% during the 3rd quarter. FMR LLC now owns 556 shares of the credit services provider’s stock valued at $63,000 after purchasing an additional 94 shares during the last quarter. D.A. Davidson & CO. grew its holdings in Nelnet by 0.8% during the 3rd quarter. D.A. Davidson & CO. now owns 17,536 shares of the credit services provider’s stock valued at $1,987,000 after purchasing an additional 136 shares during the last quarter. Finally, Kingsview Wealth Management LLC bought a new stake in Nelnet in the third quarter worth about $2,613,000. Hedge funds and other institutional investors own 33.51% of the company’s stock.

Analysts Set New Price Targets

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

Nelnet Stock Up 1.4 %

NYSE:NNI opened at $106.35 on Thursday. The company has a market cap of $3.86 billion, a price-to-earnings ratio of 34.98 and a beta of 0.90. Nelnet, Inc. has a twelve month low of $82.22 and a twelve month high of $127.32. The company has a current ratio of 31.47, a quick ratio of 31.47 and a debt-to-equity ratio of 2.78. The stock has a fifty day simple moving average of $110.53 and a 200-day simple moving average of $109.19.

Nelnet Announces Dividend

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

Insider Buying and Selling at Nelnet

In other Nelnet news, insider William J. Munn sold 2,500 shares of Nelnet stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $108.89, for a total transaction of $272,225.00. Following the completion of the sale, the insider now directly owns 9,354 shares of the company’s stock, valued at $1,018,557.06. The trade was a 21.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 50.10% of the stock is owned by corporate insiders.

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.