UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Stock Position in Nelnet, Inc. (NYSE:NNI)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Nelnet, Inc. (NYSE:NNI - Free Report) by 11.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,492 shares of the credit services provider's stock after acquiring an additional 5,778 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.15% of Nelnet worth $5,820,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in NNI. Vanguard Group Inc. boosted its stake in shares of Nelnet by 8.0% in the 4th quarter. Vanguard Group Inc. now owns 1,347,756 shares of the credit services provider's stock worth $143,954,000 after buying an additional 99,885 shares during the last quarter. Farmers & Merchants Investments Inc. raised its holdings in Nelnet by 0.5% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 1,187,527 shares of the credit services provider's stock valued at $126,840,000 after acquiring an additional 5,708 shares during the period. Proficio Capital Partners LLC increased its holdings in shares of 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 worth $482,000 after purchasing an additional 479,389 shares during the period. Geode Capital Management LLC increased its holdings in shares of Nelnet by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 361,553 shares of the credit services provider's stock worth $38,627,000 after purchasing an additional 1,060 shares during the period. Finally, Sycale Advisors NY LLC increased its holdings in shares of Nelnet by 26.7% in the fourth quarter. Sycale Advisors NY LLC now owns 258,038 shares of the credit services provider's stock worth $27,561,000 after purchasing an additional 54,380 shares during the period. 33.51% of the stock is owned by institutional investors.

Nelnet Trading Up 0.6%

NNI stock traded up $0.70 during trading on Friday, reaching $114.59. The company had a trading volume of 3,298 shares, compared to its average volume of 56,483. Nelnet, Inc. has a 52 week low of $97.13 and a 52 week high of $127.32. The company has a market cap of $4.16 billion, a P/E ratio of 37.68 and a beta of 0.95. The business has a 50 day moving average of $109.95 and a 200 day moving average of $110.21. The company has a debt-to-equity ratio of 2.78, a current ratio of 31.47 and a quick ratio of 31.47.

Nelnet (NYSE:NNI - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The credit services provider reported $2.39 EPS for the quarter, beating analysts' consensus estimates of $1.92 by $0.47. Nelnet had a net margin of 5.54% and a return on equity of 3.78%. The firm had revenue of $398.49 million for the quarter, compared to analysts' expectations of $393.00 million. As a group, sell-side analysts forecast that Nelnet, Inc. will post 4.52 earnings per share for the current fiscal year.

Nelnet declared that its board has authorized a share repurchase plan on Thursday, May 8th that permits the company to buyback 5,000,000 outstanding shares. This buyback authorization permits the credit services provider to buy shares of its stock through open market purchases. Stock buyback plans are often an indication that the company's board believes its shares are undervalued.

Nelnet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a $0.28 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.12 annualized dividend and a yield of 0.98%. Nelnet's payout ratio is presently 21.17%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Nelnet from a "hold" rating to a "buy" rating in a research 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.