Metropolitan Life Insurance Co. NY continued to hold its stake in shares of Nelnet, Inc. (NYSE:NNI) during the first quarter, according to its most recent disclosure with the SEC. The fund owned 13,346 shares of the credit services provider’s stock at the end of the first quarter. Metropolitan Life Insurance Co. NY’s holdings in Nelnet were worth $585,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. raised its stake in shares of Nelnet by 2.0% in the first quarter. Victory Capital Management Inc. now owns 2,640 shares of the credit services provider’s stock worth $116,000 after buying an additional 53 shares in the last quarter. Creative Planning raised its stake in shares of Nelnet by 1.5% in the first quarter. Creative Planning now owns 3,046 shares of the credit services provider’s stock worth $134,000 after buying an additional 46 shares in the last quarter. TFS Capital LLC purchased a new stake in shares of Nelnet during the first quarter worth about $277,000. Highbridge Capital Management LLC purchased a new stake in shares of Nelnet during the fourth quarter worth about $354,000. Finally, Marshall Wace LLP bought a new position in shares of Nelnet during the first quarter worth approximately $376,000. 41.07% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Nelnet, Inc. (NYSE:NNI) traded down 0.77% during trading on Friday, reaching $45.40. The company had a trading volume of 179,888 shares. Nelnet, Inc. has a 12 month low of $34.38 and a 12 month high of $55.01. The firm’s 50 day moving average price is $47.74 and its 200 day moving average price is $45.53. The firm has a market capitalization of $1.89 billion, a P/E ratio of 7.36 and a beta of 0.97.
Nelnet (NYSE:NNI) last posted its quarterly earnings data on Monday, August 7th. The credit services provider reported $1.08 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.08. Nelnet had a return on equity of 9.65% and a net margin of 20.19%. The business had revenue of $161.70 million for the quarter, compared to analysts’ expectations of $182.02 million. During the same quarter last year, the firm earned $1.13 earnings per share. Equities analysts predict that Nelnet, Inc. will post $4.50 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Wednesday, August 30th. Nelnet’s dividend payout ratio (DPR) is 9.09%.
A number of equities analysts recently commented on the company. Compass Point downgraded Nelnet from a “buy” rating to a “neutral” rating and set a $52.00 price objective on the stock. in a research report on Wednesday, August 9th. BidaskClub upgraded Nelnet from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Finally, TheStreet upgraded Nelnet from a “d+” rating to a “c” rating in a research report on Tuesday, August 8th.
In other news, major shareholder Angie Muhleisen sold 2,000 shares of the firm’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $47.57, for a total transaction of $95,140.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 45.40% of the stock is owned by company insiders.
Nelnet Company Profile
Nelnet, Inc focuses on delivering education-related products and services and student loan asset management. The Company is engaged in student loan servicing, tuition payment processing and school information systems, and communications. The Company’s segments include Loan Systems and Servicing, Tuition Payment Processing and Campus Commerce, Communications, Asset Generation and Management, and Corporate and Other Activities.
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