Asset Value Investors Ltd Takes Position in Nelnet, Inc. (NYSE:NNI)

Asset Value Investors Ltd purchased a new position in shares of Nelnet, Inc. (NYSE:NNI - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 9,080 shares of the credit services provider's stock, valued at approximately $970,000. Nelnet makes up 0.4% of Asset Value Investors Ltd's portfolio, making the stock its 5th largest position.

Several other large investors have also made changes to their positions in NNI. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Nelnet by 11.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 54,492 shares of the credit services provider's stock valued at $5,820,000 after acquiring an additional 5,778 shares during the last quarter. Voloridge Investment Management LLC bought a new position in Nelnet during the fourth quarter worth $581,000. Western Standard LLC acquired a new stake in Nelnet in the fourth quarter worth $2,614,000. Two Sigma Investments LP acquired a new stake in Nelnet in the fourth quarter worth $417,000. Finally, State of Wyoming grew its holdings in Nelnet by 385.9% in the fourth quarter. State of Wyoming now owns 2,376 shares of the credit services provider's stock worth $254,000 after purchasing an additional 1,887 shares during the period. Institutional investors and hedge funds own 33.51% of the company's stock.

Wall Street Analysts Forecast Growth

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

Nelnet Stock Down 0.4%

NYSE:NNI traded down $0.41 during trading hours on Wednesday, reaching $116.64. The company had a trading volume of 98,170 shares, compared to its average volume of 59,301. 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 firm has a market cap of $4.23 billion, a price-to-earnings ratio of 38.37 and a beta of 0.93. The business's 50-day simple moving average is $109.58 and its two-hundred day simple moving average is $109.96. Nelnet, Inc. has a twelve month low of $97.13 and a twelve month high of $127.32.

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

Nelnet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders 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 dividend yield of 0.96%. The ex-dividend date of this dividend is Monday, June 2nd. Nelnet's dividend payout ratio is currently 21.17%.

Nelnet declared that its Board of Directors has initiated a share repurchase plan on Thursday, May 8th that allows the company to buyback 5,000,000 shares. This buyback authorization allows the credit services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

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.