Dimensional Fund Advisors LP Grows Position in Nelnet, Inc. (NNI)

Dimensional Fund Advisors LP increased its stake in shares of Nelnet, Inc. (NYSE:NNI) by 0.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,319,282 shares of the credit services provider’s stock after buying an additional 18,163 shares during the quarter. Dimensional Fund Advisors LP owned about 5.58% of Nelnet worth $117,124,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio grew its holdings in shares of Nelnet by 6.1% during the second quarter. Public Employees Retirement System of Ohio now owns 2,156 shares of the credit services provider’s stock worth $101,000 after buying an additional 123 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Nelnet by 17.6% during the second quarter. Victory Capital Management Inc. now owns 3,104 shares of the credit services provider’s stock worth $146,000 after buying an additional 464 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Nelnet during the third quarter worth about $174,000. BNP Paribas Arbitrage SA grew its holdings in shares of Nelnet by 168.3% during the second quarter. BNP Paribas Arbitrage SA now owns 4,304 shares of the credit services provider’s stock worth $202,000 after buying an additional 2,700 shares during the last quarter. Finally, Principal Financial Group Inc. purchased a new position in shares of Nelnet during the second quarter worth about $214,000. 39.63% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Nelnet, Inc. (NNI) opened at $54.15 on Monday. The company has a debt-to-equity ratio of 10.44, a current ratio of 159.08 and a quick ratio of 159.08. The company has a market cap of $2,211.81, a PE ratio of 12.42 and a beta of 1.04. Nelnet, Inc. has a 12-month low of $38.72 and a 12-month high of $59.68.

Nelnet (NYSE:NNI) last announced its quarterly earnings data on Tuesday, November 7th. The credit services provider reported $1.00 EPS for the quarter, missing the Zacks’ consensus estimate of $1.10 by ($0.10). The firm had revenue of $194.43 million during the quarter, compared to analyst estimates of $191.00 million. Nelnet had a net margin of 17.51% and a return on equity of 8.70%. Nelnet’s revenue for the quarter was down 18.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.36 EPS.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were given a $0.16 dividend. The ex-dividend date was Thursday, November 30th. This represents a $0.64 dividend on an annualized basis and a yield of 1.18%. This is an increase from Nelnet’s previous quarterly dividend of $0.14. Nelnet’s dividend payout ratio (DPR) is presently 12.10%.

NNI has been the topic of a number of research reports. Credit Suisse Group raised their price target on Nelnet from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Friday, October 20th. Compass Point upgraded shares of Nelnet from a “neutral” rating to a “buy” rating in a research report on Thursday, October 19th.

In related news, insider William J. Munn sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $50.00, for a total value of $50,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Angie Muhleisen sold 2,000 shares of the firm’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $57.54, for a total transaction of $115,080.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,748 shares of company stock valued at $714,568. 46.10% of the stock is owned by insiders.

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About Nelnet

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.

Institutional Ownership by Quarter for Nelnet (NYSE:NNI)

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