Victory Capital Management Inc. Has $490,000 Stock Holdings in Nelnet, Inc. (NYSE:NNI)

Victory Capital Management Inc. lessened its stake in Nelnet, Inc. (NYSE:NNI) by 5.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,858 shares of the credit services provider’s stock after selling 297 shares during the quarter. Victory Capital Management Inc.’s holdings in Nelnet were worth $490,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. TFO Wealth Partners LLC grew its stake in 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 buying an additional 499 shares during the last quarter. Covestor Ltd boosted its holdings in Nelnet by 139.2% in the 1st quarter. Covestor Ltd now owns 806 shares of the credit services provider’s stock valued at $76,000 after purchasing an additional 469 shares during the period. SG Americas Securities LLC bought a new position in shares of Nelnet during the 1st quarter worth about $209,000. ProShare Advisors LLC bought a new position in shares of Nelnet during the 1st quarter worth about $220,000. Finally, Quest Partners LLC bought a new position in shares of Nelnet during the 4th quarter worth about $282,000. Institutional investors and hedge funds own 33.51% of the company’s stock.

Nelnet Stock Down 1.7 %

Shares of NYSE:NNI opened at $112.94 on Monday. Nelnet, Inc. has a one year low of $81.67 and a one year high of $116.13. The company has a 50 day moving average of $110.91 and a 200-day moving average of $102.66. The company has a debt-to-equity ratio of 2.97, a current ratio of 33.51 and a quick ratio of 33.51. The stock has a market cap of $4.11 billion, a price-to-earnings ratio of 30.52 and a beta of 0.92.

Nelnet (NYSE:NNI) last announced its quarterly 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 net margin of 7.44% and a return on equity of 4.71%. The company had revenue of $324.90 million during the quarter. On average, sell-side analysts forecast that Nelnet, Inc. will post 5.9 earnings per share for the current year.

Nelnet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date was Friday, August 30th. Nelnet’s dividend payout ratio is presently 30.27%.

Wall Street Analyst Weigh In

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

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.