Vanguard Group Inc. Has $175.18 Million Holdings in Nelnet, Inc. $NNI

Key Points

• Vanguard Group reduced its Nelnet stake by 14.8% in the fourth quarter, selling 228,503 shares and leaving it with 1,317,538 shares worth about $175.18 million.
• Nelnet’s latest quarterly earnings missed Wall Street estimates, with EPS of $1.94 versus $2.66 expected and revenue of $419.06 million versus $443.84 million forecast.
• The stock has mixed analyst sentiment, with an average rating of Hold and a target price of $140, while the company also declared a quarterly dividend of $0.33 per share.

Vanguard Group Inc. cut its holdings in shares of Nelnet, Inc. (NYSE:NNI - Free Report) by 14.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,317,538 shares of the credit services provider's stock after selling 228,503 shares during the quarter. Vanguard Group Inc. owned about 3.67% of Nelnet worth $175,180,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. UBS Group AG lifted its holdings in shares of Nelnet by 66.4% during the third quarter. UBS Group AG now owns 191,826 shares of the credit services provider's stock worth $24,051,000 after buying an additional 76,534 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Nelnet by 7.5% during the third quarter. JPMorgan Chase & Co. now owns 185,029 shares of the credit services provider's stock valued at $23,199,000 after purchasing an additional 12,941 shares during the period. American Century Companies Inc. increased its position in shares of Nelnet by 28.9% during the third quarter. American Century Companies Inc. now owns 184,316 shares of the credit services provider's stock valued at $23,110,000 after purchasing an additional 41,302 shares during the period. Qube Research & Technologies Ltd increased its position in shares of Nelnet by 3.2% during the third quarter. Qube Research & Technologies Ltd now owns 99,917 shares of the credit services provider's stock valued at $12,528,000 after purchasing an additional 3,077 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Nelnet by 7.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 58,415 shares of the credit services provider's stock valued at $6,480,000 after purchasing an additional 3,923 shares during the period. 33.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on NNI. Zacks Research cut Nelnet from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 4th. Weiss Ratings upgraded Nelnet from a "hold (c)" rating to a "buy (b)" rating in a research report on Friday, May 1st. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $140.00.

Nelnet Stock Performance

Shares of NYSE:NNI opened at $122.07 on Monday. The business's fifty day moving average price is $133.31 and its two-hundred day moving average price is $132.34. Nelnet, Inc. has a fifty-two week low of $107.45 and a fifty-two week high of $144.38. The stock has a market capitalization of $4.38 billion, a price-to-earnings ratio of 10.63 and a beta of 0.83. The company has a debt-to-equity ratio of 2.18, a current ratio of 28.27 and a quick ratio of 28.27.

Nelnet (NYSE:NNI - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The credit services provider reported $1.94 earnings per share for the quarter, missing analysts' consensus estimates of $2.66 by ($0.72). Nelnet had a net margin of 18.45% and a return on equity of 11.78%. The company had revenue of $419.06 million during the quarter, compared to the consensus estimate of $443.84 million. As a group, analysts predict that Nelnet, Inc. will post 9.2 EPS for the current fiscal year.

Nelnet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Monday, June 1st. Nelnet's dividend payout ratio is 11.50%.

About Nelnet

Nelnet, Inc NYSE: NNI is a diversified education services company founded in 1978 and headquartered in Lincoln, Nebraska. Originally established as the National Education Loan Network by Michael S. Dunlap, the company has grown into a prominent provider of student loan servicing and education finance solutions in the United States.

At the core of Nelnet's business is student loan servicing, where it administers and manages federal and private education loans on behalf of borrowers and lending partners.

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