State Board of Administration of Florida Retirement System lowered its position in shares of Nelnet Inc. (NYSE:NNI) by 8.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,527 shares of the company’s stock after selling 1,285 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Nelnet were worth $470,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in NNI. Virginia Retirement System acquired a new stake in Nelnet during the first quarter valued at approximately $787,000. Teachers Advisors Inc. increased its position in shares of Nelnet by 1.7% in the first quarter. Teachers Advisors Inc. now owns 37,755 shares of the company’s stock worth $1,486,000 after buying an additional 626 shares during the period. BlackRock Group LTD increased its position in shares of Nelnet by 16.4% in the first quarter. BlackRock Group LTD now owns 24,978 shares of the company’s stock worth $984,000 after buying an additional 3,521 shares during the period. Spark Investment Management LLC purchased a new position in shares of Nelnet during the first quarter worth $645,000. Finally, Zebra Capital Management LLC increased its position in shares of Nelnet by 70.5% in the first quarter. Zebra Capital Management LLC now owns 74,857 shares of the company’s stock worth $2,947,000 after buying an additional 30,961 shares during the period. 40.79% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Nelnet Inc. (NYSE:NNI) traded up 0.02% on Friday, hitting $40.22. 61,496 shares of the company’s stock were exchanged. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of 8.55 and a beta of 0.97. The company’s 50-day moving average price is $37.70 and its 200 day moving average price is $37.53. Nelnet Inc. has a 12-month low of $27.80 and a 12-month high of $42.65.
Nelnet (NYSE:NNI) last announced its quarterly earnings results on Thursday, August 4th. The company reported $1.13 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 business earned $1.38 EPS. On average, equities analysts predict that Nelnet Inc. will post $4.70 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $0.48 annualized dividend and a yield of 1.19%. Nelnet’s dividend payout ratio is currently 10.28%.
Separately, Compass Point decreased their price objective on shares of Nelnet from $50.00 to $47.00 and set a “buy” rating for the company in a research report on Monday, August 8th.
Nelnet Company Profile
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