Nelnet, Inc. (NYSE:NNI) Shares Acquired by D.A. Davidson & CO.

D.A. Davidson & CO. lifted its holdings in shares of Nelnet, Inc. (NYSE:NNI - Free Report) by 15.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,347 shares of the credit services provider's stock after buying an additional 2,728 shares during the period. D.A. Davidson & CO. owned approximately 0.06% of Nelnet worth $2,257,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in NNI. Proficio Capital Partners LLC raised its holdings in Nelnet by 16,773.6% during the fourth quarter. Proficio Capital Partners LLC now owns 482,247 shares of the credit services provider's stock worth $482,000 after purchasing an additional 479,389 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Nelnet by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 201,969 shares of the credit services provider's stock valued at $21,572,000 after buying an additional 2,778 shares in the last quarter. Edgestream Partners L.P. increased its holdings in Nelnet by 230.1% in the fourth quarter. Edgestream Partners L.P. now owns 24,797 shares of the credit services provider's stock valued at $2,649,000 after buying an additional 17,285 shares in the last quarter. HighTower Advisors LLC increased its holdings in Nelnet by 25.1% in the fourth quarter. HighTower Advisors LLC now owns 76,896 shares of the credit services provider's stock valued at $8,213,000 after buying an additional 15,445 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its holdings in Nelnet by 46.3% in the fourth quarter. Teacher Retirement System of Texas now owns 8,984 shares of the credit services provider's stock valued at $960,000 after buying an additional 2,842 shares in the last quarter. Institutional investors and hedge funds own 33.51% of the company's stock.

Nelnet Price Performance

Nelnet stock traded up $1.21 during mid-day trading on Thursday, reaching $126.15. The company had a trading volume of 120,406 shares, compared to its average volume of 57,960. Nelnet, Inc. has a 1 year low of $98.15 and a 1 year high of $127.32. The company has a debt-to-equity ratio of 2.57, a current ratio of 34.08 and a quick ratio of 34.08. The company has a market capitalization of $4.58 billion, a P/E ratio of 23.85 and a beta of 0.95. The stock's 50-day simple moving average is $115.82 and its 200-day simple moving average is $111.87.

Nelnet (NYSE:NNI - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The credit services provider reported $2.39 earnings per share for the quarter, beating analysts' consensus estimates of $1.92 by $0.47. The company had revenue of $398.49 million for the quarter, compared to analyst estimates of $393.00 million. Nelnet had a net margin of 9.44% and a return on equity of 6.00%. On average, equities analysts predict that Nelnet, Inc. will post 4.52 EPS for the current year.

Nelnet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a $0.28 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.89%. Nelnet's dividend payout ratio (DPR) is presently 21.17%.

Nelnet declared that its board has authorized a stock buyback plan on Thursday, May 8th that allows the company to buyback 5,000,000 outstanding shares. This buyback authorization allows the credit services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is 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.