CreativeOne Wealth LLC Invests $493,000 in Nelnet, Inc. $NNI

Key Points

• CreativeOne Wealth LLC invested approximately $493,000 in Nelnet, Inc., acquiring 4,444 shares during the first quarter.
• Nelnet recently declared a quarterly dividend of $0.30 per share, an increase from its previous dividend of $0.28, reflecting a positive outlook on cash flow.
• Analyst ratings for Nelnet have improved, with Wall Street Zen upgrading the stock from a "hold" rating to a "strong-buy" rating as of August 9th.

CreativeOne Wealth LLC purchased a new position in Nelnet, Inc. (NYSE:NNI - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 4,444 shares of the credit services provider's stock, valued at approximately $493,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Jump Financial LLC acquired a new stake in Nelnet in the 1st quarter worth $256,000. SVB Wealth LLC acquired a new stake in Nelnet in the 1st quarter worth $58,000. Martingale Asset Management L P acquired a new stake in Nelnet in the 1st quarter worth $1,727,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Nelnet in the 1st quarter worth $117,000. Finally, Algert Global LLC grew its position in Nelnet by 10.0% in the 1st quarter. Algert Global LLC now owns 21,854 shares of the credit services provider's stock worth $2,424,000 after purchasing an additional 1,990 shares during the last quarter. 33.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Nelnet

In other Nelnet news, major shareholder Shelby J. Butterfield sold 41,929 shares of the business's stock in a transaction dated 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 transaction, the insider directly owned 510 shares of the company's stock, valued at approximately $60,817.50. The trade was a 98.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 50.90% of the company's stock.

Analysts Set New Price Targets

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

Nelnet Price Performance

NNI stock traded up $1.37 during trading on Thursday, hitting $128.60. 58,363 shares of the stock traded hands, compared to its average volume of 65,860. Nelnet, Inc. has a one year low of $98.15 and a one year high of $131.06. The stock has a market cap of $4.65 billion, a price-to-earnings ratio of 14.24 and a beta of 0.87. The company has a 50 day simple moving average of $124.52 and a 200 day simple moving average of $116.42. 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 (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 the consensus estimate of $1.91 by $3.14. Nelnet had a net margin of 14.86% and a return on equity of 10.09%. The firm had revenue of $540.61 million during the quarter, compared to the consensus estimate of $376.40 million. Equities analysts expect that Nelnet, Inc. will post 4.52 EPS for the current fiscal year.

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

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 paid a $0.30 dividend. 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 dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 2nd. Nelnet's payout ratio is presently 12.40%.

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.