Nelnet, Inc. (NYSE:NNI) Shares Acquired by State of Wyoming

State of Wyoming grew its stake in Nelnet, Inc. (NYSE:NNI) by 385.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,376 shares of the credit services provider’s stock after acquiring an additional 1,887 shares during the quarter. State of Wyoming’s holdings in Nelnet were worth $254,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. HighTower Advisors LLC increased its position in shares of Nelnet by 25.1% during the 4th quarter. HighTower Advisors LLC now owns 76,896 shares of the credit services provider’s stock worth $8,213,000 after purchasing an additional 15,445 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Nelnet by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 201,969 shares of the credit services provider’s stock worth $21,572,000 after purchasing an additional 2,778 shares during the last quarter. Proficio Capital Partners LLC increased its position in shares of Nelnet by 16,773.6% during the 4th 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 during the last quarter. Edgestream Partners L.P. increased its position in shares of Nelnet by 230.1% during the 4th quarter. Edgestream Partners L.P. now owns 24,797 shares of the credit services provider’s stock worth $2,649,000 after purchasing an additional 17,285 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Nelnet by 30.7% during the 4th quarter. JPMorgan Chase & Co. now owns 172,480 shares of the credit services provider’s stock worth $18,423,000 after purchasing an additional 40,476 shares during the last quarter. 33.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Nelnet Stock Up 0.3%

Shares of NYSE:NNI opened at $114.35 on Friday. The business has a 50-day moving average price of $109.44 and a 200 day moving average price of $110.05. Nelnet, Inc. has a 12-month low of $97.13 and a 12-month high of $127.32. The company has a market capitalization of $4.15 billion, a price-to-earnings ratio of 37.61 and a beta of 0.93. The company has a current ratio of 31.47, a quick ratio of 31.47 and a debt-to-equity ratio of 2.78.

Nelnet (NYSE:NNI) last released its earnings results on Thursday, May 8th. The credit services provider reported $2.39 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.47. The company had revenue of $398.49 million during the quarter, compared to the consensus estimate of $393.00 million. Nelnet had a return on equity of 3.78% and a net margin of 5.54%. Sell-side analysts expect that Nelnet, Inc. will post 4.52 EPS for the current year.

Nelnet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend is Monday, June 2nd. Nelnet’s dividend payout ratio is currently 21.17%.

Nelnet declared that its board has authorized a stock repurchase plan on Thursday, May 8th that permits the company to repurchase 5,000,000 shares. This repurchase authorization permits the credit services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

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.