General American Investors Co. Inc. lowered its position in Nelnet, Inc. (NYSE:NNI - Free Report) by 3.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 234,026 shares of the credit services provider's stock after selling 9,389 shares during the quarter. Nelnet comprises 2.0% of General American Investors Co. Inc.'s investment portfolio, making the stock its 16th largest holding. General American Investors Co. Inc. owned approximately 0.65% of Nelnet worth $30,180,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in NNI. Rossby Financial LCC purchased a new stake in shares of Nelnet during the 4th quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd purchased a new stake in Nelnet in the fourth quarter valued at approximately $31,000. Osaic Holdings Inc. grew its stake in Nelnet by 170.3% in the 2nd quarter. Osaic Holdings Inc. now owns 373 shares of the credit services provider's stock worth $45,000 after buying an additional 235 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in Nelnet in the fourth quarter worth $59,000. Finally, State of Wyoming bought a new position in shares of Nelnet during the 2nd quarter valued at about $62,000. Hedge funds and other institutional investors own 33.51% of the company's stock.
Analyst Ratings Changes
A number of brokerages recently commented on NNI. Weiss Ratings upgraded shares of Nelnet from a "hold (c)" rating to a "buy (b)" rating in a research report on Friday, May 1st. Zacks Research cut shares of Nelnet from a "hold" rating to a "strong sell" rating in a report on Wednesday. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Nelnet currently has an average rating of "Hold" and an average price target of $140.00.
Get Our Latest Analysis on Nelnet
Nelnet Stock Up 0.6%
Shares of NYSE NNI traded up $0.75 during midday trading on Friday, hitting $133.26. The stock had a trading volume of 76,705 shares, compared to its average volume of 135,060. The business's 50 day moving average is $130.68 and its 200-day moving average is $132.06. The company has a quick ratio of 24.07, a current ratio of 24.07 and a debt-to-equity ratio of 2.14. Nelnet, Inc. has a 52 week low of $116.62 and a 52 week high of $144.38. The company has a market cap of $4.79 billion, a P/E ratio of 11.61 and a beta of 0.78.
Nelnet (NYSE:NNI - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The credit services provider reported $1.94 earnings per share for the quarter, missing the consensus estimate of $2.66 by ($0.72). Nelnet had a return on equity of 11.73% and a net margin of 18.45%.The business had revenue of $419.06 million during the quarter, compared to analysts' expectations of $443.84 million. As a group, analysts predict that Nelnet, Inc. will post 8.18 EPS for the current year.
Nelnet Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a dividend of $0.33 per share. The ex-dividend date was Monday, June 1st. This represents a $1.32 dividend on an annualized basis and a yield of 1.0%. Nelnet's payout ratio is currently 11.50%.
Nelnet Profile
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Free Report)
Nelnet, Inc NYSE: NNI is a diversified education services company founded in 1978 and headquartered in Lincoln, Nebraska. Originally established as the National Education Loan Network by Michael S. Dunlap, the company has grown into a prominent provider of student loan servicing and education finance solutions in the United States.
At the core of Nelnet's business is student loan servicing, where it administers and manages federal and private education loans on behalf of borrowers and lending partners.
Further Reading
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