Concurrent Investment Advisors LLC Makes New Investment in Nelnet, Inc. $NNI

Key Points

• Concurrent Investment Advisors LLC acquired 1,951 shares of Nelnet, Inc., valued at approximately $236,000, marking a new position in the company's stock during the second quarter.
• There were significant insider sales, with Director Thomas Edward Henning selling 5,094 shares for over $656,000 and major shareholder Shelby J. Butterfield selling 41,929 shares for more than $5 million.
• Nelnet recently increased its quarterly dividend from $0.28 to $0.30 per share, representing a 0.9% yield and a payout ratio of 13.29%.

Concurrent Investment Advisors LLC acquired a new position in shares of Nelnet, Inc. (NYSE:NNI - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,951 shares of the credit services provider's stock, valued at approximately $236,000.

Several other institutional investors have also recently bought and sold shares of the business. Harbor Capital Advisors Inc. raised its holdings in Nelnet by 14.5% during the second quarter. Harbor Capital Advisors Inc. now owns 772 shares of the credit services provider's stock worth $94,000 after buying an additional 98 shares during the last quarter. Inspire Investing LLC raised its holdings in shares of Nelnet by 4.0% in the second quarter. Inspire Investing LLC now owns 3,236 shares of the credit services provider's stock valued at $392,000 after purchasing an additional 123 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of Nelnet in the second quarter valued at about $29,000. Financial Management Professionals Inc. purchased a new stake in shares of Nelnet in the second quarter valued at about $32,000. Finally, KBC Group NV purchased a new stake in shares of Nelnet in the first quarter valued at about $32,000. Institutional investors and hedge funds own 33.51% of the company's stock.

Insider Transactions at Nelnet

In other Nelnet news, Director Thomas Edward Henning sold 5,094 shares of the stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $128.87, for a total transaction of $656,463.78. Following the completion of the transaction, the director owned 11,058 shares in the company, valued at $1,425,044.46. This trade represents a 31.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Shelby J. Butterfield sold 41,929 shares of the stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $119.25, for a total transaction of $5,000,033.25. Following the transaction, the insider owned 510 shares of the company's stock, valued at $60,817.50. This represents a 98.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,125 shares of company stock valued at $6,056,252 in the last quarter. Company insiders own 50.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Wall Street Zen upgraded shares of Nelnet from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Nelnet in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of "Hold".

Nelnet Price Performance

Shares of NYSE:NNI opened at $131.38 on Tuesday. The company has a quick ratio of 29.41, a current ratio of 29.42 and a debt-to-equity ratio of 2.27. The firm has a market capitalization of $4.75 billion, a PE ratio of 14.55 and a beta of 0.84. Nelnet, Inc. has a twelve month low of $98.15 and a twelve month high of $136.17. The company has a 50-day moving average price of $127.48 and a two-hundred day moving average price of $119.58.

Nelnet (NYSE:NNI - Get Free Report) last issued its earnings results on Wednesday, August 6th. The credit services provider reported $5.05 earnings per share for the quarter, topping 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 net margin of 14.86% and a return on equity of 10.09%. Equities analysts forecast that Nelnet, Inc. will post 4.52 EPS for the current year.

Nelnet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.30 per share. This is a boost 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 was Tuesday, September 2nd. Nelnet's dividend payout ratio (DPR) is 13.29%.

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.

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