Nuveen Asset Management LLC Has $4.37 Million Position in Nelnet, Inc. (NYSE:NNI)

Nuveen Asset Management LLC lifted its position in shares of Nelnet, Inc. (NYSE:NNI - Free Report) by 11.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,876 shares of the credit services provider's stock after acquiring an additional 4,045 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.11% of Nelnet worth $4,366,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. HighTower Advisors LLC raised its position in shares of Nelnet by 25.1% during the fourth quarter. HighTower Advisors LLC now owns 76,896 shares of the credit services provider's stock worth $8,213,000 after acquiring an additional 15,445 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Nelnet by 1.4% in the fourth 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. Proficio Capital Partners LLC increased its holdings in Nelnet by 16,773.6% in the fourth quarter. Proficio Capital Partners LLC now owns 482,247 shares of the credit services provider's stock valued at $482,000 after purchasing an additional 479,389 shares during the last quarter. Edgestream Partners L.P. increased its holdings in Nelnet by 230.1% in the fourth quarter. Edgestream Partners L.P. now owns 24,797 shares of the credit services provider's stock valued at $2,649,000 after purchasing an additional 17,285 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Nelnet by 30.7% in the fourth quarter. JPMorgan Chase & Co. now owns 172,480 shares of the credit services provider's stock valued at $18,423,000 after purchasing an additional 40,476 shares during the last quarter. Institutional investors own 33.51% of the company's stock.

Nelnet Trading Up 0.2%

NYSE NNI traded up $0.18 on Monday, reaching $116.36. The company had a trading volume of 68,921 shares, compared to its average volume of 59,483. Nelnet, Inc. has a 52 week low of $97.13 and a 52 week high of $127.32. The company has a quick ratio of 31.47, a current ratio of 31.47 and a debt-to-equity ratio of 2.78. The stock has a market cap of $4.22 billion, a price-to-earnings ratio of 38.28 and a beta of 0.93. The stock's 50 day moving average is $109.71 and its 200-day moving average is $110.04.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.92 by $0.47. Nelnet had a return on equity of 3.78% and a net margin of 5.54%. The firm had revenue of $398.49 million during the quarter, compared to analysts' expectations of $393.00 million. Equities analysts predict that Nelnet, Inc. will post 4.52 earnings per share for the current year.

Nelnet declared that its board has initiated a share repurchase plan on Thursday, May 8th that allows the company to repurchase 5,000,000 shares. This repurchase authorization allows the credit services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company's management believes its shares are undervalued.

Nelnet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a $0.28 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.12 dividend on an annualized basis and a yield of 0.96%. Nelnet's payout ratio is 21.17%.

Wall Street Analyst Weigh In

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

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.