Dynamic Technology Lab Private Ltd Makes New $405,000 Investment in Nelnet, Inc. $NNI

Key Points

• Dynamic Technology Lab Private Ltd has invested $405,000 in Nelnet, acquiring 3,650 shares, marking a strategic entry into the credit services provider's stock.
• D.A. Davidson & CO. increased its stake in Nelnet by 15.5%, reflecting growing institutional confidence in the company.
• Nelnet has announced a dividend increase, with a new quarterly dividend of $0.30, up from $0.28, indicating strong financial performance and commitment to returning value to shareholders.

Dynamic Technology Lab Private Ltd acquired a new position in shares of Nelnet, Inc. (NYSE:NNI - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 3,650 shares of the credit services provider's stock, valued at approximately $405,000.

Other hedge funds also recently added to or reduced their stakes in the company. KBC Group NV acquired a new stake in Nelnet during the 1st quarter worth approximately $32,000. Russell Investments Group Ltd. lifted its position in Nelnet by 576.5% during the 1st quarter. Russell Investments Group Ltd. now owns 460 shares of the credit services provider's stock worth $51,000 after acquiring an additional 392 shares during the period. SVB Wealth LLC acquired a new stake in Nelnet during the 1st quarter worth approximately $58,000. Blue Trust Inc. lifted its position in Nelnet by 292.1% during the 1st quarter. Blue Trust Inc. now owns 698 shares of the credit services provider's stock worth $77,000 after acquiring an additional 520 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Nelnet during the 1st quarter worth approximately $117,000. 33.51% of the stock is owned by institutional investors and hedge funds.

Nelnet Price Performance

NYSE NNI traded up $2.06 during mid-day trading on Wednesday, hitting $126.37. The stock had a trading volume of 6,804 shares, compared to its average volume of 66,129. Nelnet, Inc. has a 52-week low of $98.15 and a 52-week high of $136.17. The company has a market cap of $4.57 billion, a price-to-earnings ratio of 13.99 and a beta of 0.87. The company has a 50 day simple moving average of $125.13 and a 200 day simple moving average of $117.19. The company has a quick ratio of 29.41, a current ratio of 29.42 and a debt-to-equity ratio of 2.27.

Nelnet (NYSE:NNI - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The credit services provider reported $5.05 earnings per share for the quarter, beating the consensus estimate of $1.91 by $3.14. Nelnet had a return on equity of 10.09% and a net margin of 14.86%.The firm had revenue of $540.61 million during the quarter, compared to the consensus estimate of $376.40 million. Equities analysts forecast that Nelnet, Inc. will post 4.52 EPS for the current fiscal year.

Nelnet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, September 2nd. This is an increase from Nelnet's previous quarterly dividend of $0.28. Nelnet's dividend payout ratio (DPR) is 13.29%.

Wall Street Analysts Forecast Growth

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

Insider Activity at Nelnet

In other Nelnet news, Director Thomas Edward Henning sold 5,094 shares of the firm's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $128.87, for a total transaction of $656,463.78. Following the completion of the transaction, the director owned 11,058 shares of the company's stock, valued at approximately $1,425,044.46. This trade represents a 31.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Shelby J. Butterfield sold 41,929 shares of the firm's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $119.25, for a total value of $5,000,033.25. Following the transaction, the insider directly owned 510 shares of the company's stock, valued at $60,817.50. The trade was a 98.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,125 shares of company stock valued at $6,056,252 over the last ninety days. 50.90% of the stock is currently owned by company insiders.

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.