Nelnet, Inc. (NYSE:NNI) Shares Sold by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. trimmed its stake in Nelnet, Inc. (NYSE:NNI - Free Report) by 88.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 674 shares of the credit services provider's stock after selling 5,228 shares during the period. Harbor Capital Advisors Inc.'s holdings in Nelnet were worth $75,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in shares of Nelnet by 13,657.1% during the first quarter. GAMMA Investing LLC now owns 34,943 shares of the credit services provider's stock valued at $3,876,000 after purchasing an additional 34,689 shares during the period. Asset Value Investors Ltd purchased a new stake in Nelnet in the 4th quarter valued at about $970,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Nelnet by 11.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 54,492 shares of the credit services provider's stock worth $5,820,000 after acquiring an additional 5,778 shares in the last quarter. Voloridge Investment Management LLC purchased a new stake in shares of Nelnet in the fourth quarter valued at approximately $581,000. Finally, Western Standard LLC bought a new position in shares of Nelnet during the 4th quarter worth $2,614,000. 33.51% of the stock is currently owned by institutional investors.

Nelnet Stock Up 0.1%

NNI stock traded up $0.06 during trading on Thursday, hitting $113.17. 50,635 shares of the company's stock traded hands, compared to its average volume of 58,540. The firm has a market capitalization of $4.11 billion, a P/E ratio of 21.39 and a beta of 0.95. Nelnet, Inc. has a 1 year low of $98.15 and a 1 year high of $127.32. 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 business has a fifty day simple moving average of $111.48 and a two-hundred day simple moving average of $110.60.

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

Nelnet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend was Monday, June 2nd. Nelnet's payout ratio is 21.17%.

Nelnet declared that its Board of Directors has initiated a share repurchase program 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. Shares repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

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

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.