Nelnet, Inc. (NYSE:NNI) Stock Position Lowered by Vestcor Inc

Vestcor Inc lowered its position in shares of Nelnet, Inc. (NYSE:NNI) by 32.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,361 shares of the credit services provider’s stock after selling 3,967 shares during the quarter. Vestcor Inc’s holdings in Nelnet were worth $893,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Christopher J. Hasenberg Inc bought a new position in shares of Nelnet during the 4th quarter valued at about $38,000. Blue Trust Inc. boosted its holdings in Nelnet by 1,293.1% during the fourth quarter. Blue Trust Inc. now owns 404 shares of the credit services provider’s stock worth $46,000 after buying an additional 375 shares in the last quarter. FMR LLC grew its position in Nelnet by 20.3% in the third 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 last quarter. Quest Partners LLC increased its holdings in shares of Nelnet by 34,283.3% in the third quarter. Quest Partners LLC now owns 2,063 shares of the credit services provider’s stock valued at $234,000 after buying an additional 2,057 shares in the last quarter. Finally, MML Investors Services LLC lifted its position in shares of Nelnet by 7.4% during the 3rd quarter. MML Investors Services LLC now owns 2,279 shares of the credit services provider’s stock valued at $258,000 after acquiring an additional 157 shares during the last quarter. 33.51% of the stock is owned by institutional investors and hedge funds.

Nelnet Stock Performance

Shares of NNI opened at $115.57 on Friday. The company has a 50-day moving average of $111.75 and a two-hundred day moving average of $111.19. The stock has a market cap of $4.19 billion, a price-to-earnings ratio of 38.02 and a beta of 0.89. The company has a debt-to-equity ratio of 2.78, a current ratio of 31.47 and a quick ratio of 31.47. Nelnet, Inc. has a one year low of $87.02 and a one year high of $127.32.

Nelnet (NYSE:NNI) last posted its quarterly earnings data on Thursday, February 27th. The credit services provider reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.21. The firm had revenue of $401.61 million during the quarter, compared to analyst estimates of $335.00 million. Nelnet had a net margin of 5.54% and a return on equity of 3.78%. On average, equities research analysts expect that Nelnet, Inc. will post 4.52 earnings per share for the current year.

Nelnet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.28 per share. The ex-dividend date was Friday, February 28th. This represents a $1.12 annualized dividend and a yield of 0.97%. Nelnet’s dividend payout ratio (DPR) is presently 22.40%.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Nelnet from a “hold” rating to a “buy” rating in a research report on Tuesday, March 4th.

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.