Rhumbline Advisers Has $3.15 Million Holdings in Nelnet, Inc. (NYSE:NNI)

Rhumbline Advisers decreased its position in Nelnet, Inc. (NYSE:NNI) by 2.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,454 shares of the credit services provider’s stock after selling 628 shares during the period. Rhumbline Advisers owned approximately 0.08% of Nelnet worth $3,146,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of NNI. Farmers & Merchants Investments Inc. boosted its stake in Nelnet by 0.5% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 1,187,527 shares of the credit services provider’s stock worth $126,840,000 after acquiring an additional 5,708 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Nelnet by 0.4% during the third quarter. Geode Capital Management LLC now owns 360,493 shares of the credit services provider’s stock valued at $40,846,000 after purchasing an additional 1,572 shares during the period. Bar Harbor Wealth Management boosted its position in shares of Nelnet by 2.4% during the 4th quarter. Bar Harbor Wealth Management now owns 109,666 shares of the credit services provider’s stock worth $11,713,000 after purchasing an additional 2,577 shares in the last quarter. Crawford Fund Management LLC grew its stake in shares of Nelnet by 0.4% in the 3rd quarter. Crawford Fund Management LLC now owns 57,787 shares of the credit services provider’s stock valued at $6,546,000 after buying an additional 217 shares during the period. Finally, Guardian Wealth Management Inc. increased its position in Nelnet by 1.0% in the 3rd quarter. Guardian Wealth Management Inc. now owns 46,886 shares of the credit services provider’s stock valued at $5,311,000 after buying an additional 459 shares in the last quarter. Institutional investors and hedge funds own 33.51% of the company’s stock.

Nelnet Trading Up 9.2 %

Shares of NNI stock opened at $122.27 on Friday. Nelnet, Inc. has a 12-month low of $84.83 and a 12-month high of $127.32. The company has a quick ratio of 31.47, a current ratio of 31.47 and a debt-to-equity ratio of 2.78. The company has a 50 day moving average of $109.56 and a 200-day moving average of $110.72. The firm has a market cap of $4.44 billion, a P/E ratio of 40.22 and a beta of 0.91.

Nelnet (NYSE:NNI) last announced its quarterly earnings results on Thursday, February 27th. The credit services provider reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.21. Nelnet had a net margin of 5.54% and a return on equity of 3.78%. The company had revenue of $401.61 million for the quarter, compared to analysts’ expectations of $335.00 million. Sell-side analysts anticipate that Nelnet, Inc. will post 4.52 earnings per share for the current year.

Nelnet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a $0.28 dividend. The ex-dividend date is Friday, February 28th. This represents a $1.12 annualized dividend and a yield of 0.92%. Nelnet’s dividend payout ratio (DPR) is presently 36.84%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Nelnet from a “hold” rating to a “buy” rating in a research note on Saturday, February 22nd.

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.