Farmers & Merchants Investments Inc. Raises Stock Position in Nelnet, Inc. (NYSE:NNI)

Farmers & Merchants Investments Inc. raised its position in Nelnet, Inc. (NYSE:NNI - Free Report) by 1.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,204,798 shares of the credit services provider's stock after purchasing an additional 17,271 shares during the period. Nelnet accounts for 4.2% of Farmers & Merchants Investments Inc.'s investment portfolio, making the stock its 3rd largest holding. Farmers & Merchants Investments Inc. owned approximately 3.32% of Nelnet worth $133,648,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Nelnet by 8.0% during the fourth quarter. Vanguard Group Inc. now owns 1,347,756 shares of the credit services provider's stock worth $143,954,000 after acquiring an additional 99,885 shares during the last quarter. Proficio Capital Partners LLC increased its position in Nelnet by 16,773.6% in the 4th quarter. Proficio Capital Partners LLC now owns 482,247 shares of the credit services provider's stock valued at $482,000 after acquiring an additional 479,389 shares during the period. Geode Capital Management LLC lifted its position in Nelnet by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 361,553 shares of the credit services provider's stock worth $38,627,000 after acquiring an additional 1,060 shares during the period. Sycale Advisors NY LLC lifted its position in Nelnet by 26.7% during the 4th quarter. Sycale Advisors NY LLC now owns 258,038 shares of the credit services provider's stock worth $27,561,000 after acquiring an additional 54,380 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Nelnet by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 201,969 shares of the credit services provider's stock valued at $21,572,000 after purchasing an additional 2,778 shares during the last quarter. Institutional investors and hedge funds own 33.51% of the company's stock.

Nelnet Trading Down 0.2%

NNI stock traded down $0.23 during midday trading on Tuesday, hitting $113.04. The stock had a trading volume of 64,878 shares, compared to its average volume of 59,374. Nelnet, Inc. has a 12-month low of $97.13 and a 12-month high of $127.32. The company's 50-day moving average price is $111.26 and its 200 day moving average price is $110.57. The company has a debt-to-equity ratio of 2.78, a current ratio of 31.47 and a quick ratio of 31.47. The firm has a market cap of $4.10 billion, a PE ratio of 37.18 and a beta of 0.95.

Nelnet (NYSE:NNI - Get Free Report) last posted its 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. The business had revenue of $398.49 million for the quarter, compared to analyst estimates of $393.00 million. Nelnet had a net margin of 5.54% and a return on equity of 3.78%. On average, equities research analysts predict that Nelnet, Inc. will post 4.52 earnings per share for the current fiscal year.

Nelnet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a $0.28 dividend. The ex-dividend date was Monday, June 2nd. This represents a $1.12 dividend on an annualized basis and a yield of 0.99%. Nelnet's payout ratio is currently 21.17%.

Nelnet announced that its Board of Directors has approved a stock repurchase plan on Thursday, May 8th that permits the company to repurchase 5,000,000 outstanding shares. This repurchase authorization permits the credit services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Nelnet from a "hold" rating to a "buy" rating in a report on Tuesday, March 4th.

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.