Algert Global LLC Has $2.21 Million Stock Position in Nelnet, Inc. (NYSE:NNI)

Algert Global LLC lifted its position in Nelnet, Inc. (NYSE:NNI) by 8.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,911 shares of the credit services provider’s stock after buying an additional 1,751 shares during the quarter. Algert Global LLC’s holdings in Nelnet were worth $2,210,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake 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 worth $124,329,000 after buying an additional 3,485 shares during the last quarter. Farmers & Merchants Investments Inc. lifted its stake in shares of Nelnet by 1.4% in the first quarter. Farmers & Merchants Investments Inc. now owns 1,206,546 shares of the credit services provider’s stock worth $114,200,000 after buying an additional 16,820 shares during the last quarter. American Century Companies Inc. increased its position in Nelnet by 4.9% during the second quarter. American Century Companies Inc. now owns 122,055 shares of the credit services provider’s stock worth $12,310,000 after acquiring an additional 5,752 shares during the period. Bandera Partners LLC increased its position in Nelnet by 7.7% during the fourth quarter. Bandera Partners LLC now owns 120,583 shares of the credit services provider’s stock worth $10,638,000 after acquiring an additional 8,583 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Nelnet by 1.1% during 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 acquiring an additional 1,280 shares during the period. 33.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. StockNews.com lowered shares of Nelnet from a “buy” rating to a “hold” rating in a research report on Monday, August 12th. TD Cowen boosted their target price on shares of Nelnet from $96.00 to $98.00 and gave the stock a “hold” rating in a research report on Monday, August 12th.

Nelnet Trading Up 0.3 %

Shares of NNI stock opened at $111.51 on Thursday. Nelnet, Inc. has a 1 year low of $81.67 and a 1 year high of $116.13. The firm has a market capitalization of $4.06 billion, a P/E ratio of 30.14 and a beta of 0.92. 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’s fifty day simple moving average is $111.17 and its 200 day simple moving average is $103.83.

Nelnet (NYSE:NNI) last announced 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). Nelnet had a net margin of 7.44% and a return on equity of 4.71%. The business had revenue of $324.90 million during the quarter. As a group, sell-side analysts predict that Nelnet, Inc. will post 5.9 EPS 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 paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date was Friday, August 30th. Nelnet’s dividend payout ratio is 30.27%.

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.