Asset Value Investors Ltd Invests $970,000 in Nelnet, Inc. (NYSE:NNI)

Asset Value Investors Ltd acquired a new position in Nelnet, Inc. (NYSE:NNI - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 9,080 shares of the credit services provider's stock, valued at approximately $970,000. Nelnet comprises about 0.4% of Asset Value Investors Ltd's investment portfolio, making the stock its 5th largest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Proficio Capital Partners LLC grew its stake in shares of Nelnet by 16,773.6% during the 4th quarter. Proficio Capital Partners LLC now owns 482,247 shares of the credit services provider's stock worth $482,000 after acquiring an additional 479,389 shares during the period. Vanguard Group Inc. lifted its holdings in Nelnet by 8.0% during the 4th quarter. Vanguard Group Inc. now owns 1,347,756 shares of the credit services provider's stock worth $143,954,000 after purchasing an additional 99,885 shares in the last quarter. Sycale Advisors NY LLC lifted its holdings in Nelnet by 26.7% during the 4th quarter. Sycale Advisors NY LLC now owns 258,038 shares of the credit services provider's stock worth $27,561,000 after purchasing an additional 54,380 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Nelnet by 30.7% during the 4th quarter. JPMorgan Chase & Co. now owns 172,480 shares of the credit services provider's stock worth $18,423,000 after purchasing an additional 40,476 shares in the last quarter. Finally, Western Standard LLC purchased a new stake in Nelnet during the 4th quarter worth about $2,614,000. Hedge funds and other institutional investors own 33.51% of the company's stock.

Analysts Set New Price Targets

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

Nelnet Price Performance

Shares of NYSE NNI traded down $1.05 during trading hours on Friday, reaching $115.97. 154,722 shares of the stock traded hands, compared to its average volume of 59,646. The company has a market capitalization of $4.21 billion, a P/E ratio of 38.15 and a beta of 0.93. The company has a quick ratio of 31.47, a current ratio of 31.47 and a debt-to-equity ratio of 2.78. Nelnet, Inc. has a 52-week low of $97.13 and a 52-week high of $127.32. The company's 50-day simple moving average is $109.71 and its two-hundred day simple moving average is $110.05.

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

Nelnet Dividend Announcement

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 given a $0.28 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.97%. Nelnet's dividend payout ratio is currently 21.17%.

Nelnet declared that its Board of Directors has initiated a share buyback plan 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 plans are usually a sign that the company's management believes its shares are undervalued.

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.