Guardian Wealth Management Inc. grew its stake in shares of Nelnet, Inc. (NYSE:NNI - Free Report) by 4.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 46,343 shares of the credit services provider's stock after acquiring an additional 2,183 shares during the period. Nelnet accounts for 3.4% of Guardian Wealth Management Inc.'s investment portfolio, making the stock its 7th biggest holding. Guardian Wealth Management Inc. owned 0.13% of Nelnet worth $5,141,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also modified their holdings of the company. KBC Group NV bought a new stake in Nelnet during the first quarter valued at about $32,000. Sterling Capital Management LLC grew its holdings in Nelnet by 796.0% during the 4th quarter. Sterling Capital Management LLC now owns 448 shares of the credit services provider's stock worth $48,000 after acquiring an additional 398 shares during the period. Blue Trust Inc. grew its holdings 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. Man Group plc bought a new position in shares of Nelnet during the fourth quarter worth $202,000. Finally, Venator Management LLC bought a new stake in Nelnet in the 4th quarter valued at $214,000. 33.51% of the stock is currently owned by hedge funds and other institutional investors.
Nelnet Stock Up 0.5%
NNI stock traded up $0.65 during midday trading on Wednesday, hitting $121.09. The company's stock had a trading volume of 635 shares, compared to its average volume of 59,178. The company has a debt-to-equity ratio of 2.57, a current ratio of 34.08 and a quick ratio of 34.08. Nelnet, Inc. has a twelve month low of $98.15 and a twelve month high of $127.32. The company's fifty day moving average price is $117.90 and its 200 day moving average price is $112.79. The stock has a market capitalization of $4.39 billion, a P/E ratio of 22.93 and a beta of 0.95.
Nelnet (NYSE:NNI - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The credit services provider reported $2.39 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.47. Nelnet had a net margin of 9.44% and a return on equity of 6.00%. The company had revenue of $398.49 million for the quarter, compared to analyst estimates of $393.00 million. As a group, equities research analysts predict that Nelnet, Inc. will post 4.52 EPS for the current year.
Nelnet announced that its board has initiated a share buyback plan on Thursday, May 8th that allows the company to repurchase 5,000,000 shares. This repurchase authorization allows the credit services provider to buy shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.
Nelnet Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date was Monday, June 2nd. Nelnet's dividend payout ratio is currently 21.17%.
About Nelnet
(
Free Report)
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.
Featured Stories
Want to see what other hedge funds are holding NNI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nelnet, Inc. (NYSE:NNI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Nelnet, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Nelnet wasn't on the list.
While Nelnet currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to profit from the electric vehicle mega-trend? Enter your email address and we'll send you our list of which EV stocks show the most long-term potential.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.