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

Deutsche Bank AG trimmed its holdings in shares of Nelnet, Inc. (NYSE:NNI - Free Report) by 72.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 institutional investors have also recently modified their holdings of the company. Blue Trust Inc. grew its holdings in Nelnet by 1,293.1% during the 4th quarter. Blue Trust Inc. now owns 404 shares of the credit services provider's stock valued at $46,000 after buying an additional 375 shares during the last quarter. Sterling Capital Management LLC lifted its position in shares of Nelnet by 796.0% in the fourth quarter. Sterling Capital Management LLC now owns 448 shares of the credit services provider's stock valued at $48,000 after acquiring an additional 398 shares in the last quarter. Venator Management LLC acquired a new stake in shares of Nelnet during the fourth quarter valued at $214,000. EntryPoint Capital LLC acquired a new stake in shares of Nelnet during the fourth quarter valued at $223,000. Finally, Dark Forest Capital Management LP purchased a new stake in Nelnet during the 4th quarter worth about $228,000. 33.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Nelnet Trading Up 0.3%

Shares of NYSE:NNI traded up $0.34 during midday trading on Thursday, reaching $116.87. The company's stock had a trading volume of 49,981 shares, compared to its average volume of 59,236. The firm has a market cap of $4.24 billion, a price-to-earnings ratio of 38.45 and a beta of 0.93. The business has a 50 day moving average price of $109.63 and a 200 day moving average price of $110.00. Nelnet, Inc. has a 1 year low of $97.13 and a 1 year high of $127.32. The company has a quick ratio of 31.47, a current ratio of 31.47 and a debt-to-equity ratio of 2.78.

Nelnet (NYSE:NNI - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The credit services provider reported $2.39 EPS for the quarter, beating the consensus estimate of $1.92 by $0.47. The company had revenue of $398.49 million during the quarter, compared to analysts' expectations of $393.00 million. Nelnet had a return on equity of 3.78% and a net margin of 5.54%. Research analysts forecast that Nelnet, Inc. will post 4.52 EPS for the current year.

Nelnet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.96%. The ex-dividend date is Monday, June 2nd. Nelnet's dividend payout ratio (DPR) is 21.17%.

Nelnet declared that its Board of Directors has authorized a share buyback plan on Thursday, May 8th that authorizes the company to repurchase 5,000,000 outstanding shares. This repurchase authorization authorizes the credit services provider to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's leadership 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.