Nelnet, Inc. (NYSE:NNI) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lessened its stake in shares of Nelnet, Inc. (NYSE:NNI - Free Report) by 66.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,300 shares of the credit services provider's stock after selling 8,600 shares during the quarter. Renaissance Technologies LLC's holdings in Nelnet were worth $459,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Christopher J. Hasenberg Inc acquired a new stake in shares of Nelnet in the 4th quarter worth $38,000. Blue Trust Inc. lifted its holdings in Nelnet by 1,293.1% in the fourth quarter. Blue Trust Inc. now owns 404 shares of the credit services provider's stock valued at $46,000 after acquiring an additional 375 shares during the period. Venator Management LLC acquired a new position in shares of Nelnet during the 4th quarter worth $214,000. EntryPoint Capital LLC purchased a new position in shares of Nelnet in the 4th quarter valued at about $223,000. Finally, Handelsbanken Fonder AB grew its position in Nelnet by 51.0% during the fourth quarter. Handelsbanken Fonder AB now owns 3,551 shares of the credit services provider's stock worth $379,000 after buying an additional 1,200 shares during the period. 33.51% of the stock is owned by institutional investors and hedge funds.

Nelnet Trading Up 7.1 %

NNI traded up $7.55 during trading on Friday, hitting $113.92. The company's stock had a trading volume of 27,846 shares, compared to its average volume of 59,491. The stock has a market cap of $4.13 billion, a PE ratio of 37.47 and a beta of 0.93. 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, Inc. has a twelve month low of $96.13 and a twelve month high of $127.32. The firm's 50 day moving average price is $109.41 and its 200-day moving average price is $109.84.

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

Nelnet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.98%. Nelnet's payout ratio is currently 22.40%.

Nelnet declared that its board has approved a share repurchase program on Thursday, May 8th that permits the company to buyback 5,000,000 outstanding shares. This buyback authorization permits the credit services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company's management believes its stock is undervalued.

Analyst Ratings Changes

Separately, StockNews.com raised 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.