Public Employees Retirement System of Ohio grew its stake in Nelnet, Inc. (NYSE:NNI) by 6.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,156 shares of the credit services provider’s stock after buying an additional 123 shares during the period. Public Employees Retirement System of Ohio’s holdings in Nelnet were worth $101,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of NNI. FMR LLC increased its stake in shares of Nelnet by 24.7% in the first quarter. FMR LLC now owns 40,525 shares of the credit services provider’s stock valued at $1,777,000 after buying an additional 8,025 shares during the period. Teachers Advisors LLC increased its stake in shares of Nelnet by 2.2% in the first quarter. Teachers Advisors LLC now owns 45,906 shares of the credit services provider’s stock valued at $2,013,000 after buying an additional 1,005 shares during the period. Geode Capital Management LLC increased its stake in shares of Nelnet by 9.1% in the first quarter. Geode Capital Management LLC now owns 304,267 shares of the credit services provider’s stock valued at $13,345,000 after buying an additional 25,472 shares during the period. Schwab Charles Investment Management Inc. grew its stake in Nelnet by 48.1% during the first quarter. Schwab Charles Investment Management Inc. now owns 183,193 shares of the credit services provider’s stock worth $8,035,000 after purchasing an additional 59,468 shares during the period. Finally, Aperio Group LLC grew its stake in Nelnet by 10.1% during the second quarter. Aperio Group LLC now owns 9,470 shares of the credit services provider’s stock worth $445,000 after purchasing an additional 865 shares during the period. 39.65% of the stock is owned by institutional investors.
In other Nelnet news, major shareholder Angie Muhleisen sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $48.38, for a total value of $96,760.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael D. Reardon sold 5,748 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $50.84, for a total value of $292,228.32. The disclosure for this sale can be found here. Insiders have sold 11,748 shares of company stock valued at $609,068 in the last ninety days. 46.10% of the stock is currently owned by insiders.
Shares of Nelnet, Inc. (NYSE:NNI) opened at $52.99 on Tuesday. Nelnet, Inc. has a one year low of $38.72 and a one year high of $59.68. The company has a market capitalization of $2,132.16, a P/E ratio of 11.97 and a beta of 1.06. The company has a debt-to-equity ratio of 10.44, a quick ratio of 159.08 and a current ratio of 159.08.
Nelnet (NYSE:NNI) last released its earnings results on Tuesday, November 7th. The credit services provider reported $1.00 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.10). Nelnet had a return on equity of 8.70% and a net margin of 17.51%. The business had revenue of $194.43 million for the quarter, compared to analyst estimates of $191.00 million. During the same period in the prior year, the business earned $1.36 EPS. The company’s revenue for the quarter was down 18.6% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.64 annualized dividend and a yield of 1.21%. This is a boost from Nelnet’s previous quarterly dividend of $0.14. Nelnet’s dividend payout ratio (DPR) is currently 10.59%.
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Nelnet, Inc focuses on delivering education-related products and services and student loan asset management. The Company is engaged in student loan servicing, tuition payment processing and school information systems, and communications. The Company’s segments include Loan Systems and Servicing, Tuition Payment Processing and Campus Commerce, Communications, Asset Generation and Management, and Corporate and Other Activities.
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