Nelnet, Inc. (NYSE:NNI) Position Boosted by Anchor Capital Advisors LLC

Anchor Capital Advisors LLC increased its holdings in shares of Nelnet, Inc. (NYSE:NNI) by 3.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,931 shares of the credit services provider’s stock after acquiring an additional 383 shares during the quarter. Anchor Capital Advisors LLC’s holdings in Nelnet were worth $1,224,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CWM LLC raised its stake in Nelnet by 176.5% during the fourth quarter. CWM LLC now owns 412 shares of the credit services provider’s stock worth $36,000 after acquiring an additional 263 shares during the period. TFO Wealth Partners LLC increased its stake in shares of Nelnet by 49,900.0% in the fourth quarter. TFO Wealth Partners LLC now owns 500 shares of the credit services provider’s stock valued at $44,000 after purchasing an additional 499 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Nelnet in the first quarter valued at approximately $209,000. Graham Capital Management L.P. acquired a new stake in shares of Nelnet in the third quarter valued at approximately $238,000. Finally, Quest Partners LLC acquired a new stake in shares of Nelnet in the fourth quarter valued at approximately $282,000. Institutional investors and hedge funds own 33.51% of the company’s stock.

Nelnet Price Performance

Nelnet stock traded up $2.67 during mid-day trading on Monday, hitting $108.80. The company’s stock had a trading volume of 28,960 shares, compared to its average volume of 88,997. The company has a quick ratio of 48.33, a current ratio of 48.33 and a debt-to-equity ratio of 3.25. The stock has a market capitalization of $3.96 billion, a P/E ratio of 28.68 and a beta of 0.91. Nelnet, Inc. has a twelve month low of $81.67 and a twelve month high of $110.70. The stock’s fifty day moving average price is $102.75 and its two-hundred day moving average price is $94.32.

Nelnet (NYSE:NNI) last posted its quarterly earnings data on Thursday, May 9th. The credit services provider reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.44. Nelnet had a net margin of 6.54% and a return on equity of 4.17%. The firm had revenue of $579.96 million for the quarter. During the same quarter in the previous year, the firm posted $1.47 earnings per share. Research analysts forecast that Nelnet, Inc. will post 6.1 earnings per share for the current year.

Nelnet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were issued a dividend of $0.28 per share. The ex-dividend date was Friday, May 31st. This represents a $1.12 annualized dividend and a dividend yield of 1.03%. Nelnet’s payout ratio is 30.27%.

Analysts Set New Price Targets

Several research firms have recently issued reports on NNI. TD Cowen increased their price objective on shares of Nelnet from $90.00 to $96.00 and gave the company a “hold” rating in a report on Tuesday, May 14th. StockNews.com raised Nelnet from a “hold” rating to a “buy” rating in a report on Monday, May 13th.

Insider Transactions at Nelnet

In related news, Director Kathleen Anne Farrell sold 1,700 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $101.73, for a total value of $172,941.00. Following the sale, the director now owns 16,894 shares of the company’s stock, valued at $1,718,626.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 50.10% of the company’s stock.

Nelnet Company 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.