Rhumbline Advisers Purchases 1,570 Shares of Nelnet, Inc. (NYSE:NNI)

Rhumbline Advisers increased its position in Nelnet, Inc. (NYSE:NNI) by 5.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,608 shares of the credit services provider’s stock after acquiring an additional 1,570 shares during the quarter. Rhumbline Advisers owned about 0.09% of Nelnet worth $3,188,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. TFO Wealth Partners LLC raised its holdings in Nelnet by 49,900.0% in the 4th quarter. TFO Wealth Partners LLC now owns 500 shares of the credit services provider’s stock worth $44,000 after acquiring an additional 499 shares during the period. Covestor Ltd raised its holdings in Nelnet by 139.2% in the 1st quarter. Covestor Ltd now owns 806 shares of the credit services provider’s stock worth $76,000 after acquiring an additional 469 shares during the period. SG Americas Securities LLC bought a new position in Nelnet in the 1st quarter worth $209,000. ProShare Advisors LLC bought a new position in Nelnet in the 1st quarter worth $220,000. Finally, Quest Partners LLC bought a new position in shares of Nelnet during the 4th quarter worth about $282,000. Institutional investors own 33.51% of the company’s stock.

Nelnet Stock Performance

NYSE:NNI opened at $113.87 on Wednesday. The firm’s 50-day moving average is $110.35 and its 200-day moving average is $102.09. Nelnet, Inc. has a 52-week low of $81.67 and a 52-week high of $115.61. The company has a debt-to-equity ratio of 2.97, a quick ratio of 33.51 and a current ratio of 33.51. The company has a market cap of $4.14 billion, a price-to-earnings ratio of 30.78 and a beta of 0.92.

Nelnet (NYSE:NNI) last posted its quarterly earnings data on Thursday, August 8th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.13). Nelnet had a return on equity of 4.71% and a net margin of 7.44%. The company had revenue of $324.90 million for the quarter. Equities research analysts anticipate that Nelnet, Inc. will post 5.9 earnings per share for the current year.

Nelnet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a dividend of $0.28 per share. The ex-dividend date was Friday, August 30th. This represents a $1.12 annualized dividend and a dividend yield of 0.98%. Nelnet’s dividend payout ratio (DPR) is currently 30.27%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. StockNews.com downgraded shares of Nelnet from a “buy” rating to a “hold” rating in a report on Monday, August 12th. 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.

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.