Teacher Retirement System of Texas Boosts Stock Position in Nelnet, Inc. (NYSE:NNI)

Teacher Retirement System of Texas grew its holdings in shares of Nelnet, Inc. (NYSE:NNI) by 46.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,984 shares of the credit services provider’s stock after buying an additional 2,842 shares during the period. Teacher Retirement System of Texas’ holdings in Nelnet were worth $960,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Farmers & Merchants Investments Inc. raised its position in shares of Nelnet by 0.5% during the 4th 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. Proficio Capital Partners LLC raised its holdings in Nelnet by 16,773.6% during the fourth quarter. Proficio Capital Partners LLC now owns 482,247 shares of the credit services provider’s stock worth $482,000 after purchasing an additional 479,389 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Nelnet by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 360,493 shares of the credit services provider’s stock worth $40,846,000 after buying an additional 1,572 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Nelnet by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 201,969 shares of the credit services provider’s stock valued at $21,572,000 after buying an additional 2,778 shares in the last quarter. Finally, Bar Harbor Wealth Management grew its position in shares of Nelnet by 2.4% in the 4th quarter. Bar Harbor Wealth Management now owns 109,666 shares of the credit services provider’s stock valued at $11,713,000 after buying an additional 2,577 shares during the last quarter. 33.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Nelnet from a “hold” rating to a “buy” rating in a research note on Tuesday, March 4th.

Nelnet Trading Down 2.0 %

NNI opened at $111.70 on Friday. The company has a quick ratio of 31.47, a current ratio of 31.47 and a debt-to-equity ratio of 2.78. Nelnet, Inc. has a 52 week low of $92.24 and a 52 week high of $127.32. The business’s 50 day moving average is $113.23 and its two-hundred day moving average is $111.24. The firm has a market cap of $4.05 billion, a price-to-earnings ratio of 36.74 and a beta of 0.89.

Nelnet (NYSE:NNI) last announced its 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. The business had revenue of $401.61 million for the quarter, compared to analysts’ expectations of $335.00 million. Nelnet had a net margin of 5.54% and a return on equity of 3.78%. On average, research analysts predict that Nelnet, Inc. will post 4.52 EPS for the current year.

Nelnet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.12 annualized dividend and a yield of 1.00%. Nelnet’s dividend payout ratio is currently 22.40%.

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.