Nelnet, Inc. (NYSE:NNI) Shares Sold by Algert Global LLC

Algert Global LLC trimmed its position in Nelnet, Inc. (NYSE:NNI) by 15.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 18,581 shares of the credit services provider’s stock after selling 3,330 shares during the period. Algert Global LLC owned about 0.05% of Nelnet worth $2,105,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Nelnet by 0.3% in 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 buying an additional 3,485 shares during the last quarter. 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 during the period. Price T Rowe Associates Inc. MD increased 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 worth $729,000 after buying an additional 497 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Nelnet by 1.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 118,046 shares of the credit services provider’s stock valued at $11,906,000 after buying an additional 1,280 shares during the period. Finally, Legato Capital Management LLC lifted its holdings in Nelnet by 30.8% in the second quarter. Legato Capital Management LLC now owns 18,018 shares of the credit services provider’s stock valued at $1,817,000 after acquiring an additional 4,241 shares during the last quarter. 33.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. StockNews.com downgraded Nelnet from a “buy” rating to a “hold” rating in a research report on Monday, August 12th. TD Cowen boosted their price objective on shares of Nelnet from $96.00 to $98.00 and gave the company a “hold” rating in a report on Monday, August 12th.

Insider Buying and Selling

In related news, insider William J. Munn sold 2,500 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now owns 9,354 shares in the company, valued at approximately $1,018,557.06. The trade was a 21.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 50.10% of the company’s stock.

Nelnet Price Performance

NNI opened at $108.76 on Thursday. The firm has a market cap of $3.95 billion, a price-to-earnings ratio of 35.86 and a beta of 0.92. Nelnet, Inc. has a 12-month low of $82.22 and a 12-month high of $127.32. The company has a current ratio of 31.47, a quick ratio of 31.47 and a debt-to-equity ratio of 2.78. The stock’s 50-day moving average price is $112.33 and its 200 day moving average price is $108.87.

Nelnet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Monday, December 2nd. Nelnet’s dividend payout ratio is presently 36.84%.

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.