Nelnet, Inc. (NYSE:NNI) Shares Acquired by Bar Harbor Wealth Management

Bar Harbor Wealth Management lifted its stake in Nelnet, Inc. (NYSE:NNI) by 2.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 109,666 shares of the credit services provider’s stock after purchasing an additional 2,577 shares during the quarter. Bar Harbor Wealth Management owned about 0.30% of Nelnet worth $11,713,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC raised its position in Nelnet by 20.3% in the third quarter. FMR LLC now owns 556 shares of the credit services provider’s stock valued at $63,000 after purchasing an additional 94 shares during the period. D.A. Davidson & CO. raised its holdings in Nelnet by 0.8% in the 3rd quarter. D.A. Davidson & CO. now owns 17,536 shares of the credit services provider’s stock valued at $1,987,000 after buying an additional 136 shares during the period. MML Investors Services LLC lifted its position in Nelnet by 7.4% in the third quarter. MML Investors Services LLC now owns 2,279 shares of the credit services provider’s stock valued at $258,000 after buying an additional 157 shares during the last quarter. Inspire Investing LLC boosted its stake in Nelnet by 5.0% during the third quarter. Inspire Investing LLC now owns 3,662 shares of the credit services provider’s stock worth $415,000 after buying an additional 175 shares during the period. Finally, Crawford Fund Management LLC increased its position in shares of Nelnet by 0.4% during the third quarter. Crawford Fund Management LLC now owns 57,787 shares of the credit services provider’s stock valued at $6,546,000 after acquiring an additional 217 shares during the last quarter. Hedge funds and other institutional investors own 33.51% of the company’s stock.

Insider Buying and Selling at Nelnet

In related news, insider William J. Munn sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $108.89, for a total transaction of $272,225.00. Following the sale, the insider now directly owns 9,354 shares in the company, valued at approximately $1,018,557.06. This represents a 21.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 50.10% of the stock is currently owned by corporate insiders.

Nelnet Trading Up 0.9 %

NYSE NNI traded up $0.90 during trading on Monday, hitting $103.82. The stock had a trading volume of 27,211 shares, compared to its average volume of 34,581. The company has a quick ratio of 31.47, a current ratio of 31.47 and a debt-to-equity ratio of 2.78. The company has a market capitalization of $3.77 billion, a PE ratio of 34.15 and a beta of 0.91. The firm has a 50 day moving average price of $108.53 and a 200 day moving average price of $109.73. Nelnet, Inc. has a twelve month low of $82.58 and a twelve month high of $127.32.

Nelnet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a dividend of $0.28 per share. The ex-dividend date was Monday, December 2nd. This represents a $1.12 dividend on an annualized basis and a yield of 1.08%. Nelnet’s dividend payout ratio (DPR) is presently 36.84%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Nelnet from a “buy” rating to a “hold” rating in a report on Tuesday, December 24th.

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.