MML Investors Services LLC Grows Stock Holdings in Nelnet, Inc. (NYSE:NNI)

MML Investors Services LLC lifted its position in Nelnet, Inc. (NYSE:NNI) by 7.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,279 shares of the credit services provider’s stock after buying an additional 157 shares during the period. MML Investors Services LLC’s holdings in Nelnet were worth $258,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Edgestream Partners L.P. purchased a new position in Nelnet in the third quarter worth $851,000. Crawford Fund Management LLC grew its stake in Nelnet by 0.4% during the 3rd quarter. Crawford Fund Management LLC now owns 57,787 shares of the credit services provider’s stock worth $6,546,000 after buying an additional 217 shares during the last quarter. FMR LLC grew its stake in Nelnet by 20.3% during the 3rd quarter. FMR LLC now owns 556 shares of the credit services provider’s stock worth $63,000 after buying an additional 94 shares during the last quarter. D.A. Davidson & CO. increased its position in Nelnet by 0.8% during 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 in the last quarter. Finally, Kingsview Wealth Management LLC purchased a new stake in Nelnet in the third quarter valued at about $2,613,000. Institutional investors own 33.51% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling at Nelnet

In other Nelnet news, insider William J. Munn sold 2,500 shares of the firm’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 completion of the transaction, the insider now directly owns 9,354 shares of the company’s stock, valued at approximately $1,018,557.06. This trade represents a 21.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 50.10% of the company’s stock.

Nelnet Trading Up 1.4 %

NYSE NNI opened at $106.35 on Thursday. The stock has a market cap of $3.86 billion, a P/E ratio of 34.98 and a beta of 0.90. The company has a current ratio of 31.47, a quick ratio of 31.47 and a debt-to-equity ratio of 2.78. Nelnet, Inc. has a 12-month low of $82.22 and a 12-month high of $127.32. The company has a fifty day simple moving average of $110.53 and a two-hundred day simple moving average of $109.19.

Nelnet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.12 dividend on an annualized basis and a yield of 1.05%. Nelnet’s dividend payout ratio is currently 36.84%.

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.