Avity Investment Management Inc. Invests $607,000 in Nelnet, Inc. $NNI

Key Points

• Avity Investment Management Inc. invested approximately $607,000 in Nelnet, purchasing 5,008 shares during the second quarter.
• Nelnet recently announced a quarterly dividend increase to $0.30, with a dividend yield of 1.0% and a payout ratio of 13.29%.
• Equities analysts have upgraded Nelnet to a "strong-buy" rating, indicating positive expectations for the company's stock performance.

Avity Investment Management Inc. purchased a new position in shares of Nelnet, Inc. (NYSE:NNI - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 5,008 shares of the credit services provider's stock, valued at approximately $607,000.

Several other large investors also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Nelnet by 1.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,395 shares of the credit services provider's stock worth $1,217,000 after acquiring an additional 188 shares in the last quarter. KBC Group NV bought a new stake in shares of Nelnet during the 1st quarter worth about $32,000. Russell Investments Group Ltd. boosted its stake in shares of Nelnet by 576.5% during the 1st quarter. Russell Investments Group Ltd. now owns 460 shares of the credit services provider's stock worth $51,000 after acquiring an additional 392 shares in the last quarter. RMR Capital Management LLC boosted its stake in Nelnet by 10.4% during the 1st quarter. RMR Capital Management LLC now owns 4,453 shares of the credit services provider's stock valued at $494,000 after purchasing an additional 418 shares during the period. Finally, Blue Trust Inc. boosted its stake in Nelnet by 292.1% during the 1st quarter. Blue Trust Inc. now owns 698 shares of the credit services provider's stock valued at $77,000 after purchasing an additional 520 shares during the period. Institutional investors own 33.51% of the company's stock.

Nelnet Price Performance

Shares of NNI stock opened at $123.27 on Monday. The stock has a 50 day moving average of $125.09 and a two-hundred day moving average of $117.12. The company has a current ratio of 29.42, a quick ratio of 29.41 and a debt-to-equity ratio of 2.27. Nelnet, Inc. has a 12 month low of $98.15 and a 12 month high of $136.17. The company has a market capitalization of $4.46 billion, a P/E ratio of 13.65 and a beta of 0.87.

Nelnet (NYSE:NNI - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The credit services provider reported $5.05 EPS for the quarter, topping analysts' consensus estimates of $1.91 by $3.14. The company had revenue of $540.61 million during the quarter, compared to the consensus estimate of $376.40 million. Nelnet had a return on equity of 10.09% and a net margin of 14.86%. As a group, equities analysts expect that Nelnet, Inc. will post 4.52 EPS for the current year.

Nelnet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be paid a $0.30 dividend. This is an increase from Nelnet's previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.20 annualized dividend and a dividend yield of 1.0%. Nelnet's payout ratio is 13.29%.

Analysts Set New Price Targets

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

Insider Buying and Selling at Nelnet

In other news, Director Thomas Edward Henning sold 3,102 shares of Nelnet stock in a transaction on Friday, September 5th. The stock was sold at an average price of $128.87, for a total value of $399,754.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Shelby J. Butterfield sold 41,929 shares of Nelnet stock in a transaction on Monday, August 25th. The shares were sold at an average price of $119.25, for a total value of $5,000,033.25. Following the completion of the sale, the insider directly owned 510 shares of the company's stock, valued at $60,817.50. This trade represents a 98.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,125 shares of company stock valued at $6,056,252 over the last three months. Insiders own 50.90% of the company's stock.

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.

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