Deutsche Bank AG Cuts Stock Holdings in Nelnet, Inc. (NYSE:NNI)

Deutsche Bank AG lowered its stake in shares of Nelnet, Inc. (NYSE:NNI - Free Report) by 72.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 12,645 shares of the credit services provider's stock after selling 33,643 shares during the period. Deutsche Bank AG's holdings in Nelnet were worth $1,351,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. boosted its stake in shares of Nelnet by 1,293.1% in the 4th quarter. Blue Trust Inc. now owns 404 shares of the credit services provider's stock worth $46,000 after buying an additional 375 shares during the last quarter. Sterling Capital Management LLC boosted its stake in shares of Nelnet by 796.0% in the 4th quarter. Sterling Capital Management LLC now owns 448 shares of the credit services provider's stock worth $48,000 after buying an additional 398 shares during the last quarter. Venator Management LLC purchased a new position in shares of Nelnet in the 4th quarter worth approximately $214,000. EntryPoint Capital LLC purchased a new position in shares of Nelnet in the 4th quarter worth approximately $223,000. Finally, Dark Forest Capital Management LP purchased a new position in shares of Nelnet in the 4th quarter worth approximately $228,000. Hedge funds and other institutional investors own 33.51% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Nelnet from a "hold" rating to a "buy" rating in a report on Tuesday, March 4th.

Nelnet Stock Performance

Shares of NYSE:NNI traded up $2.80 during mid-day trading on Tuesday, reaching $117.23. The company had a trading volume of 103,569 shares, compared to its average volume of 59,215. The company has a current ratio of 31.47, a quick ratio of 31.47 and a debt-to-equity ratio of 2.78. The firm has a market cap of $4.25 billion, a price-to-earnings ratio of 38.56 and a beta of 0.93. The company's 50-day moving average price is $109.42 and its 200-day moving average price is $109.87. Nelnet, Inc. has a one year low of $97.13 and a one year high of $127.32.

Nelnet (NYSE:NNI - Get Free Report) last issued its earnings results on Thursday, May 8th. The credit services provider reported $2.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.92 by $0.47. Nelnet had a net margin of 5.54% and a return on equity of 3.78%. The business had revenue of $398.49 million for the quarter, compared to analysts' expectations of $393.00 million. As a group, equities research analysts anticipate that Nelnet, Inc. will post 4.52 EPS for the current fiscal year.

Nelnet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.28 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.12 dividend on an annualized basis and a yield of 0.96%. Nelnet's payout ratio is 21.17%.

Nelnet declared that its board has approved a share repurchase plan on Thursday, May 8th that permits the company to buyback 5,000,000 shares. This buyback authorization permits the credit services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board of directors believes its shares are 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.