Two Sigma Investments LP Buys New Holdings in Nelnet, Inc. (NYSE:NNI)

Two Sigma Investments LP bought a new stake in shares of Nelnet, Inc. (NYSE:NNI - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,900 shares of the credit services provider's stock, valued at approximately $417,000.

A number of other hedge funds have also bought and sold shares of NNI. Barclays PLC grew its holdings in Nelnet by 127.4% during the third quarter. Barclays PLC now owns 28,996 shares of the credit services provider's stock worth $3,285,000 after buying an additional 16,245 shares in the last quarter. Blue Trust Inc. boosted its holdings in Nelnet by 1,293.1% in the 4th quarter. Blue Trust Inc. now owns 404 shares of the credit services provider's stock worth $46,000 after buying an additional 375 shares during the period. Handelsbanken Fonder AB grew its holdings in shares of Nelnet by 51.0% during the fourth quarter. Handelsbanken Fonder AB now owns 3,551 shares of the credit services provider's stock worth $379,000 after purchasing an additional 1,200 shares in the last quarter. Proficio Capital Partners LLC grew its stake in Nelnet by 16,773.6% in the 4th quarter. Proficio Capital Partners LLC now owns 482,247 shares of the credit services provider's stock worth $482,000 after buying an additional 479,389 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its stake in Nelnet by 8.6% during the fourth quarter. QRG Capital Management Inc. now owns 4,852 shares of the credit services provider's stock worth $518,000 after purchasing an additional 384 shares during the last quarter. Institutional investors own 33.51% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Nelnet from a "hold" rating to a "buy" rating in a research report on Tuesday, March 4th.

Nelnet Stock Down 2.4%

Shares of NNI stock traded down $2.72 during trading hours on Friday, hitting $112.39. 52,064 shares of the company's stock traded hands, compared to its average volume of 59,612. Nelnet, Inc. has a 12-month low of $97.13 and a 12-month high of $127.32. The company has a quick ratio of 31.47, a current ratio of 31.47 and a debt-to-equity ratio of 2.78. The stock's fifty day simple moving average is $110.80 and its two-hundred day simple moving average is $110.49. The stock has a market cap of $4.08 billion, a price-to-earnings ratio of 36.97 and a beta of 0.95.

Nelnet (NYSE:NNI - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The credit services provider reported $2.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.92 by $0.47. The firm had revenue of $398.49 million for the quarter, compared to the consensus estimate of $393.00 million. Nelnet had a return on equity of 3.78% and a net margin of 5.54%. On average, analysts expect that Nelnet, Inc. will post 4.52 EPS for the current year.

Nelnet announced that its Board of Directors has initiated a stock buyback program on Thursday, May 8th that permits the company to repurchase 5,000,000 shares. This repurchase authorization permits the credit services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its shares are undervalued.

Nelnet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Monday, June 2nd. Nelnet's dividend payout ratio (DPR) is currently 21.17%.

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.