Nelnet, Inc. $NNI Shares Acquired by Algert Global LLC

Key Points

• Algert Global LLC increased its stake in Nelnet, Inc. by 10.0%, owning 21,854 shares worth approximately $2.42 million as of the end of the 1st quarter.
• Nelnet recently announced better-than-expected quarterly earnings of $5.05 per share, significantly exceeding analysts' estimates of $1.91, alongside a substantial revenue of $540.61 million.
• The company also increased its quarterly dividend to $0.30 per share, reflecting confidence in its financial health and a dividend payout ratio of 13.29%.

Algert Global LLC boosted its position in Nelnet, Inc. (NYSE:NNI - Free Report) by 10.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,854 shares of the credit services provider's stock after buying an additional 1,990 shares during the quarter. Algert Global LLC owned approximately 0.06% of Nelnet worth $2,424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of NNI. KBC Group NV bought a new stake in Nelnet during the first quarter valued at $32,000. Sterling Capital Management LLC lifted its stake in shares of Nelnet by 796.0% in the 4th quarter. Sterling Capital Management LLC now owns 448 shares of the credit services provider's stock valued at $48,000 after acquiring an additional 398 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in Nelnet by 576.5% in the 1st quarter. Russell Investments Group Ltd. now owns 460 shares of the credit services provider's stock worth $51,000 after buying an additional 392 shares during the period. Blue Trust Inc. lifted its holdings in Nelnet by 292.1% in the 1st quarter. Blue Trust Inc. now owns 698 shares of the credit services provider's stock worth $77,000 after buying an additional 520 shares during the period. Finally, Man Group plc purchased a new position in shares of Nelnet during the 4th quarter worth approximately $202,000. 33.51% of the stock is owned by hedge funds and other institutional investors.

Nelnet Trading Down 0.7%

NYSE NNI traded down $0.8850 during trading hours on Monday, hitting $129.3850. 26,618 shares of the company were exchanged, compared to its average volume of 65,329. Nelnet, Inc. has a 52 week low of $98.15 and a 52 week high of $130.71. The stock has a 50-day moving average price of $122.36 and a 200 day moving average price of $115.56. The stock has a market cap of $4.68 billion, a PE ratio of 14.33 and a beta of 0.90. The company has a quick ratio of 29.41, a current ratio of 29.42 and a debt-to-equity ratio of 2.27.

Nelnet (NYSE:NNI - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The credit services provider reported $5.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.91 by $3.14. The firm had revenue of $540.61 million during the quarter, compared to analyst estimates of $376.40 million. Nelnet had a return on equity of 10.09% and a net margin of 14.86%. Analysts forecast that Nelnet, Inc. will post 4.52 earnings per share for the current fiscal year.

Nelnet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.30 per share. This is an increase from Nelnet's previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Tuesday, September 2nd. Nelnet's dividend payout ratio (DPR) is currently 12.40%.

Nelnet announced that its board has authorized a share repurchase program on Thursday, May 8th that authorizes the company to buyback 5,000,000 shares. This buyback authorization authorizes the credit services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Nelnet from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 9th.

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.