Swiss National Bank cut its stake in Nelnet Inc. (NYSE:NNI) by 4.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 41,400 shares of the company’s stock after selling 1,900 shares during the period. Swiss National Bank owned about 0.10% of Nelnet worth $1,439,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in NNI. Foundry Partners LLC acquired a new position in shares of Nelnet during the second quarter valued at about $3,334,000. Metropolitan Life Insurance Co. NY increased its position in Nelnet by 6.9% in the first quarter. Metropolitan Life Insurance Co. NY now owns 16,720 shares of the company’s stock valued at $658,000 after buying an additional 1,078 shares during the period. Spark Investment Management LLC purchased a new position in Nelnet during the first quarter valued at $645,000. Legal & General Group Plc increased its position in Nelnet by 14.8% in the first quarter. Legal & General Group Plc now owns 3,460 shares of the company’s stock valued at $138,000 after buying an additional 445 shares during the period. Finally, Bogle Investment Management L P DE purchased a new position in Nelnet during the first quarter valued at $1,375,000. 40.79% of the stock is currently owned by institutional investors.
Nelnet Inc. (NYSE:NNI) traded up 1.47% on Wednesday, hitting $40.10. 45,664 shares of the stock traded hands. The company’s 50 day moving average price is $36.41 and its 200-day moving average price is $37.47. Nelnet Inc. has a 12-month low of $27.80 and a 12-month high of $42.65. The stock has a market capitalization of $1.70 billion, a P/E ratio of 8.53 and a beta of 0.94.
Nelnet (NYSE:NNI) last issued its quarterly earnings results on Thursday, August 4th. The company reported $1.13 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.28 by $0.15. Nelnet had a return on equity of 12.39% and a net margin of 18.26%. During the same quarter last year, the company posted $1.38 EPS. Analysts predict that Nelnet Inc. will post $4.70 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were given a dividend of $0.12 per share. The ex-dividend date was Tuesday, August 30th. This represents a $0.48 annualized dividend and a yield of 1.21%. Nelnet’s dividend payout ratio (DPR) is 10.28%.
Separately, Compass Point dropped their target price on shares of Nelnet from $50.00 to $47.00 and set a “buy” rating on the stock in a research report on Monday, August 8th.
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