D.A. Davidson & CO. Boosts Stock Position in Nelnet, Inc. (NYSE:NNI)

D.A. Davidson & CO. increased its stake in shares of Nelnet, Inc. (NYSE:NNI - Free Report) by 15.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,347 shares of the credit services provider's stock after purchasing an additional 2,728 shares during the quarter. D.A. Davidson & CO. owned 0.06% of Nelnet worth $2,257,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Nelnet by 8.0% during the fourth 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. Farmers & Merchants Investments Inc. boosted its position in shares of Nelnet by 1.5% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 1,204,798 shares of the credit services provider's stock worth $133,648,000 after acquiring an additional 17,271 shares in the last quarter. Proficio Capital Partners LLC increased its holdings in shares of Nelnet by 16,773.6% in the 4th quarter. Proficio Capital Partners LLC now owns 482,247 shares of the credit services provider's stock valued at $482,000 after acquiring an additional 479,389 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Nelnet by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 361,553 shares of the credit services provider's stock worth $38,627,000 after acquiring an additional 1,060 shares in the last quarter. Finally, Sycale Advisors NY LLC lifted its stake in Nelnet by 26.7% during the fourth 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 during the last quarter. 33.51% of the stock is owned by institutional investors and hedge funds.

Nelnet Stock Up 0.2%

NNI traded up $0.20 on Monday, reaching $122.59. The company's stock had a trading volume of 87,276 shares, compared to its average volume of 57,172. The company has a market capitalization of $4.45 billion, a price-to-earnings ratio of 23.17 and a beta of 0.95. Nelnet, Inc. has a fifty-two week low of $98.15 and a fifty-two week high of $130.19. The company has a quick ratio of 34.08, a current ratio of 34.08 and a debt-to-equity ratio of 2.57. The stock has a 50 day moving average of $114.80 and a two-hundred day moving average of $111.58.

Nelnet (NYSE:NNI - Get Free Report) last posted its earnings results on Thursday, May 8th. The credit services provider reported $2.39 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.47. The business had revenue of $398.49 million during the quarter, compared to the consensus estimate of $393.00 million. Nelnet had a return on equity of 6.00% and a net margin of 9.44%. As a group, analysts forecast that Nelnet, Inc. will post 4.52 EPS for the current fiscal year.

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

Nelnet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.91%. The ex-dividend date was Monday, June 2nd. Nelnet's payout ratio is currently 21.17%.

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.