Inspire Investing LLC Boosts Stock Position in Nelnet, Inc. (NYSE:NNI)

Inspire Investing LLC lifted its stake in Nelnet, Inc. (NYSE:NNI) by 5.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,662 shares of the credit services provider’s stock after acquiring an additional 175 shares during the period. Inspire Investing LLC’s holdings in Nelnet were worth $415,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Nelnet by 0.3% during the first quarter. Vanguard Group Inc. now owns 1,313,570 shares of the credit services provider’s stock valued at $124,329,000 after acquiring an additional 3,485 shares in the last quarter. Farmers & Merchants Investments Inc. boosted its holdings in Nelnet by 1.4% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 1,206,546 shares of the credit services provider’s stock valued at $114,200,000 after purchasing an additional 16,820 shares during the period. American Century Companies Inc. grew its position in shares of Nelnet by 4.9% during the 2nd quarter. American Century Companies Inc. now owns 122,055 shares of the credit services provider’s stock valued at $12,310,000 after purchasing an additional 5,752 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Nelnet by 1.1% in the second quarter. Bank of New York Mellon Corp now owns 118,046 shares of the credit services provider’s stock worth $11,906,000 after purchasing an additional 1,280 shares during the period. Finally, Lawson Kroeker Investment Management Inc. NE raised its position in shares of Nelnet by 0.9% in the second quarter. Lawson Kroeker Investment Management Inc. NE now owns 102,586 shares of the credit services provider’s stock worth $10,347,000 after buying an additional 910 shares in the last quarter. 33.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. TD Cowen raised their price target on Nelnet from $96.00 to $98.00 and gave the company a “hold” rating in a report on Monday, August 12th. StockNews.com downgraded shares of Nelnet from a “buy” rating to a “hold” rating in a research note on Monday, August 12th.

Nelnet Stock Down 0.0 %

NNI opened at $112.69 on Wednesday. The business’s fifty day simple moving average is $111.52 and its 200 day simple moving average is $105.27. Nelnet, Inc. has a 52 week low of $81.67 and a 52 week high of $116.13. The company has a quick ratio of 33.51, a current ratio of 33.51 and a debt-to-equity ratio of 2.97. The stock has a market cap of $4.10 billion, a PE ratio of 30.46 and a beta of 0.92.

Nelnet (NYSE:NNI) last posted its quarterly earnings data on Thursday, August 8th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.13). The firm had revenue of $324.90 million during the quarter. Nelnet had a return on equity of 4.71% and a net margin of 7.44%. As a group, research analysts expect that Nelnet, Inc. will post 5.82 earnings per share for the current fiscal year.

Nelnet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Friday, August 30th. Nelnet’s dividend payout ratio (DPR) is presently 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.