Cubist Systematic Strategies LLC Has $694,000 Stock Position in Nelnet, Inc. (NYSE:NNI)

Cubist Systematic Strategies LLC raised its position in Nelnet, Inc. (NYSE:NNI) by 297.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,881 shares of the credit services provider’s stock after purchasing an additional 5,148 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Nelnet were worth $694,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co grew its stake in shares of Nelnet by 3.4% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 6,760 shares of the credit services provider’s stock valued at $640,000 after buying an additional 222 shares in the last quarter. Anchor Capital Advisors LLC grew its position in Nelnet by 3.1% in the first quarter. Anchor Capital Advisors LLC now owns 12,931 shares of the credit services provider’s stock worth $1,224,000 after acquiring an additional 383 shares in the last quarter. Covestor Ltd increased its stake in shares of Nelnet by 139.2% during the 1st quarter. Covestor Ltd now owns 806 shares of the credit services provider’s stock worth $76,000 after purchasing an additional 469 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Nelnet by 6.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,699 shares of the credit services provider’s stock valued at $729,000 after purchasing an additional 497 shares in the last quarter. Finally, TFO Wealth Partners LLC lifted its stake in shares of Nelnet by 49,900.0% in the 4th 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 last quarter. 33.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NNI has been the topic of several recent research reports. StockNews.com lowered Nelnet from a “buy” rating to a “hold” rating in a report on Monday, August 12th. TD Cowen raised their price objective on Nelnet from $96.00 to $98.00 and gave the company a “hold” rating in a research note on Monday, August 12th.

Nelnet Price Performance

Shares of Nelnet stock opened at $111.25 on Friday. The company has a current ratio of 33.51, a quick ratio of 33.51 and a debt-to-equity ratio of 2.97. The firm has a fifty day simple moving average of $111.16 and a 200-day simple moving average of $103.94. The stock has a market capitalization of $4.05 billion, a price-to-earnings ratio of 30.07 and a beta of 0.92. Nelnet, Inc. has a 1-year low of $81.67 and a 1-year high of $116.13.

Nelnet (NYSE:NNI) last released its earnings results on Thursday, August 8th. The credit services provider reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.13). Nelnet had a return on equity of 4.71% and a net margin of 7.44%. The firm had revenue of $324.90 million for the quarter. On average, sell-side analysts expect that Nelnet, Inc. will post 5.9 earnings per share for the current year.

Nelnet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.12 annualized dividend and a yield of 1.01%. Nelnet’s payout ratio is 30.27%.

About Nelnet

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.