Nelnet, Inc. (NYSE:NNI) Shares Bought by Edgestream Partners L.P.

Edgestream Partners L.P. raised its holdings in shares of Nelnet, Inc. (NYSE:NNI - Free Report) by 45.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,113 shares of the credit services provider's stock after purchasing an additional 11,316 shares during the period. Edgestream Partners L.P. owned 0.10% of Nelnet worth $4,006,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in NNI. KBC Group NV purchased a new position in Nelnet in the 1st quarter worth $32,000. Sterling Capital Management LLC raised its stake in 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 acquiring an additional 398 shares during the last quarter. Blue Trust Inc. raised its stake 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 acquiring an additional 520 shares during the last quarter. Man Group plc purchased a new position in Nelnet in the 4th quarter worth $202,000. Finally, Venator Management LLC purchased a new position in Nelnet in the 4th quarter worth $214,000. 33.51% of the stock is owned by institutional investors and hedge funds.

Nelnet Stock Performance

NNI stock traded down $0.26 during midday trading on Friday, reaching $119.80. The stock had a trading volume of 187,915 shares, compared to its average volume of 59,204. The stock has a market cap of $4.35 billion, a PE ratio of 22.65 and a beta of 0.95. The company has a debt-to-equity ratio of 2.57, a quick ratio of 34.08 and a current ratio of 34.08. The firm has a fifty day simple moving average of $117.79 and a two-hundred day simple moving average of $112.60. Nelnet, Inc. has a 52-week low of $98.15 and a 52-week high of $127.32.

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, beating analysts' consensus estimates of $1.92 by $0.47. The business had revenue of $398.49 million during the quarter, compared to analyst estimates of $393.00 million. Nelnet had a return on equity of 6.00% and a net margin of 9.44%. As a group, equities research analysts anticipate that Nelnet, Inc. will post 4.52 EPS for the current year.

Nelnet declared that its Board of Directors has authorized a stock 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 reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Nelnet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a dividend of $0.28 per share. The ex-dividend date was Monday, June 2nd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.93%. Nelnet's payout ratio is currently 21.17%.

About Nelnet

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.