Nelnet, Inc. (NYSE:NNI) Stake Lifted by Guardian Wealth Management Inc.

Guardian Wealth Management Inc. lifted its holdings in shares of Nelnet, Inc. (NYSE:NNI - Free Report) by 4.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,343 shares of the credit services provider's stock after buying an additional 2,183 shares during the quarter. Nelnet comprises 3.4% of Guardian Wealth Management Inc.'s investment portfolio, making the stock its 7th biggest position. Guardian Wealth Management Inc. owned about 0.13% of Nelnet worth $5,141,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of NNI. KBC Group NV purchased a new stake in Nelnet in the first quarter valued at approximately $32,000. Sterling Capital Management LLC raised its position in shares of Nelnet by 796.0% in the 4th quarter. Sterling Capital Management LLC now owns 448 shares of the credit services provider's stock worth $48,000 after purchasing an additional 398 shares during the last quarter. Blue Trust Inc. raised its position in Nelnet by 292.1% in the 1st quarter. Blue Trust Inc. now owns 698 shares of the credit services provider's stock worth $77,000 after buying an additional 520 shares during the last quarter. Man Group plc purchased a new position in Nelnet in the 4th quarter worth about $202,000. Finally, Venator Management LLC bought a new stake in shares of Nelnet during the 4th quarter valued at about $214,000. 33.51% of the stock is owned by hedge funds and other institutional investors.

Nelnet Price Performance

NNI stock traded up $2.39 during midday trading on Friday, hitting $124.77. The company's stock had a trading volume of 78,977 shares, compared to its average volume of 99,674. The company has a quick ratio of 34.08, a current ratio of 34.08 and a debt-to-equity ratio of 2.57. The firm has a market capitalization of $4.53 billion, a price-to-earnings ratio of 23.59 and a beta of 0.95. Nelnet, Inc. has a 12 month low of $98.15 and a 12 month high of $127.32. The company has a 50 day moving average of $118.25 and a two-hundred day moving average of $113.15.

Nelnet (NYSE:NNI - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The credit services provider reported $2.39 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.47. Nelnet had a return on equity of 6.00% and a net margin of 9.44%. The company had revenue of $398.49 million for the quarter, compared to analyst estimates of $393.00 million. On average, analysts expect that Nelnet, Inc. will post 4.52 EPS for the current year.

Nelnet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date was Monday, June 2nd. Nelnet's dividend payout ratio (DPR) is 21.17%.

Nelnet announced that its board has approved 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 repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.

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.