Prudential Financial Inc. Sells 5,126 Shares of Nelnet, Inc. (NYSE:NNI)

Prudential Financial Inc. cut its position in Nelnet, Inc. (NYSE:NNI) by 4.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 108,598 shares of the credit services provider’s stock after selling 5,126 shares during the quarter. Prudential Financial Inc.’s holdings in Nelnet were worth $7,900,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. KBC Group NV bought a new position in shares of Nelnet in the first quarter valued at $67,000. Quantinno Capital Management LP acquired a new stake in Nelnet during the 4th quarter valued at $209,000. Campbell & CO Investment Adviser LLC acquired a new stake in Nelnet during the 4th quarter valued at $214,000. Engineers Gate Manager LP acquired a new stake in Nelnet during the 4th quarter valued at $250,000. Finally, Citigroup Inc. lifted its holdings in Nelnet by 199.1% during the 4th quarter. Citigroup Inc. now owns 3,553 shares of the credit services provider’s stock valued at $253,000 after purchasing an additional 2,365 shares during the last quarter. 34.62% of the stock is owned by institutional investors and hedge funds.

Shares of Nelnet stock opened at $76.44 on Friday. The firm’s fifty day simple moving average is $75.16. Nelnet, Inc. has a 1 year low of $44.33 and a 1 year high of $79.21. The firm has a market cap of $2.94 billion, a P/E ratio of 5.72 and a beta of 0.72. The company has a quick ratio of 92.07, a current ratio of 92.07 and a debt-to-equity ratio of 6.82.

Nelnet (NYSE:NNI) last posted its earnings results on Monday, May 10th. The credit services provider reported $2.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.79 by $0.65. Nelnet had a return on equity of 19.48% and a net margin of 30.06%. The company had revenue of $340.44 million during the quarter, compared to the consensus estimate of $298.23 million. During the same quarter last year, the firm earned ($0.62) earnings per share.

The company also recently announced a quarterly dividend, which was paid on Monday, June 14th. Stockholders of record on Monday, May 31st were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Thursday, May 27th.

In other news, major shareholder Shelby J. Butterfield sold 5,000 shares of Nelnet stock in a transaction on Friday, June 18th. The stock was sold at an average price of $74.58, for a total transaction of $372,900.00. Following the completion of the sale, the insider now owns 136,641 shares of the company’s stock, valued at $10,190,685.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 20,000 shares of company stock valued at $1,508,500 in the last three months. Insiders own 45.90% of the company’s stock.

Separately, TheStreet raised Nelnet from a “c” rating to a “b-” rating in a report on Thursday, February 25th.

Nelnet Company Profile

Nelnet, Inc engages in loan servicing, communications, and education technology, services, and payment processing businesses worldwide. The company's Loan Servicing and Systems is involved in loan servicing activities, such as loan conversion, application processing, borrower updates, customer service, payment processing, due diligence procedures, funds management reconciliation, and claim processing activities for student loan portfolio and third-party clients.

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Institutional Ownership by Quarter for Nelnet (NYSE:NNI)

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