Pittenger & Anderson Inc. lifted its stake in Nelnet, Inc. (NYSE:NNI) by 67.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,425 shares of the credit services provider’s stock after purchasing an additional 1,775 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Nelnet were worth $253,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in shares of Nelnet in the first quarter valued at about $100,000. Quantbot Technologies LP acquired a new stake in shares of Nelnet in the first quarter valued at about $104,000. Burney Co. acquired a new stake in shares of Nelnet in the second quarter valued at about $220,000. Public Employees Retirement System of Ohio lifted its stake in shares of Nelnet by 220.1% in the second quarter. Public Employees Retirement System of Ohio now owns 4,735 shares of the credit services provider’s stock valued at $277,000 after purchasing an additional 3,256 shares during the period. Finally, Hartford Investment Management Co. acquired a new stake in shares of Nelnet in the second quarter valued at about $281,000. Hedge funds and other institutional investors own 37.46% of the company’s stock.
NYSE:NNI opened at $54.23 on Friday. The company has a quick ratio of 112.77, a current ratio of 112.77 and a debt-to-equity ratio of 9.83. Nelnet, Inc. has a twelve month low of $48.30 and a twelve month high of $64.00. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of 11.25 and a beta of 0.81.
Nelnet (NYSE:NNI) last posted its earnings results on Tuesday, August 7th. The credit services provider reported $1.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.02. Nelnet had a net margin of 17.02% and a return on equity of 9.45%. The firm had revenue of $257.96 million during the quarter.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Friday, August 31st were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $0.64 annualized dividend and a yield of 1.18%.
In other Nelnet news, major shareholder Angie Muhleisen sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, September 19th. The shares were sold at an average price of $58.22, for a total transaction of $58,220.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 47.00% of the company’s stock.
Separately, ValuEngine downgraded shares of Nelnet from a “buy” rating to a “hold” rating in a report on Thursday, July 26th.
Nelnet, Inc provides education related products and services, and loan asset management services worldwide. The company's Loan Systems and Servicing segment is involved in loan servicing activities, such as loan conversion, application processing, borrower updates, customer service, payment processing, due diligence procedures, funds management reconciliation, and claim processing activities for student loan portfolio and third-party clients.
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