Nelnet, Inc. (NYSE:NNI) Stock Holdings Raised by Creative Planning

Creative Planning raised its stake in Nelnet, Inc. (NYSE:NNI) by 7.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 4,758 shares of the credit services provider’s stock after purchasing an additional 310 shares during the period. Creative Planning’s holdings in Nelnet were worth $539,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Covestor Ltd grew its position in shares of Nelnet by 139.2% during the 1st quarter. Covestor Ltd now owns 806 shares of the credit services provider’s stock valued at $76,000 after buying an additional 469 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Nelnet during the 1st quarter valued at about $209,000. Security National Bank of Sioux City Iowa IA bought a new stake in shares of Nelnet during the 2nd quarter valued at about $212,000. ProShare Advisors LLC bought a new stake in shares of Nelnet during the 1st quarter valued at about $220,000. Finally, Dark Forest Capital Management LP bought a new stake in shares of Nelnet during the 2nd quarter valued at about $331,000. Institutional investors own 33.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. 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 research report on Monday, August 12th. StockNews.com downgraded shares of Nelnet from a “buy” rating to a “hold” rating in a research report on Monday, August 12th.

Nelnet Trading Up 1.5 %

Nelnet stock opened at $116.58 on Wednesday. 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 firm has a 50-day moving average price of $112.86 and a two-hundred day moving average price of $107.36. The firm has a market capitalization of $4.23 billion, a price-to-earnings ratio of 27.89 and a beta of 0.92. Nelnet, Inc. has a 52-week low of $82.22 and a 52-week high of $117.46.

Nelnet (NYSE:NNI) last posted its earnings results 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 for the quarter. Nelnet had a net margin of 7.44% and a return on equity of 4.71%. Sell-side analysts expect that Nelnet, Inc. will post 5.82 earnings per share for the current year.

Nelnet Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date was Friday, August 30th. Nelnet’s payout ratio is 26.79%.

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.