Nelnet, Inc. $NNI Stake Boosted by Deutsche Bank AG

Deutsche Bank AG increased its holdings in Nelnet, Inc. (NYSE:NNI - Free Report) by 209.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,074 shares of the credit services provider's stock after purchasing an additional 26,429 shares during the period. Deutsche Bank AG owned 0.11% of Nelnet worth $4,334,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Nelnet by 13.9% in the 1st quarter. Vanguard Group Inc. now owns 1,535,569 shares of the credit services provider's stock valued at $170,341,000 after buying an additional 187,813 shares during the period. XTX Topco Ltd purchased a new stake in Nelnet in the first quarter valued at approximately $384,000. Picton Mahoney Asset Management purchased a new stake in Nelnet in the first quarter valued at approximately $401,000. Mackenzie Financial Corp purchased a new stake in Nelnet in the first quarter valued at approximately $304,000. Finally, LPL Financial LLC grew its stake in shares of Nelnet by 8.5% during the 1st quarter. LPL Financial LLC now owns 29,122 shares of the credit services provider's stock valued at $3,230,000 after buying an additional 2,278 shares during the period. Hedge funds and other institutional investors own 33.51% of the company's stock.

Nelnet Stock Down 0.2%

NNI traded down $0.28 on Wednesday, reaching $126.36. The company's stock had a trading volume of 54,738 shares, compared to its average volume of 65,641. The stock has a market cap of $4.57 billion, a price-to-earnings ratio of 13.99 and a beta of 0.90. Nelnet, Inc. has a 1 year low of $98.15 and a 1 year high of $130.41. The company has a debt-to-equity ratio of 2.27, a current ratio of 29.42 and a quick ratio of 29.41. The business's 50 day moving average is $121.60 and its 200 day moving average is $115.21.

Nelnet (NYSE:NNI - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The credit services provider reported $5.05 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $376.40 million. As a group, research analysts forecast that Nelnet, Inc. will post 4.52 EPS for the current fiscal year.

Nelnet declared that its board has approved a share repurchase program on Thursday, May 8th that permits the company to buyback 5,000,000 outstanding shares. This buyback authorization permits the credit services provider to buy shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Nelnet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a positive change from Nelnet's previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a dividend yield of 0.9%. Nelnet's dividend payout ratio is 12.40%.

Analyst Upgrades and Downgrades

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

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.