Squarepoint Ops LLC Has $1.38 Million Holdings in Nelnet, Inc. (NYSE:NNI)

Squarepoint Ops LLC decreased its holdings in shares of Nelnet, Inc. (NYSE:NNI) by 42.7% in the 2nd quarter, Holdings Channel reports. The fund owned 13,703 shares of the credit services provider’s stock after selling 10,212 shares during the period. Squarepoint Ops LLC’s holdings in Nelnet were worth $1,382,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in NNI. Covestor Ltd grew its holdings in shares of Nelnet by 139.2% during the 1st quarter. Covestor Ltd now owns 806 shares of the credit services provider’s stock valued at $76,000 after purchasing an additional 469 shares during the last quarter. SG Americas Securities LLC bought a new position in Nelnet in the 1st quarter valued at approximately $209,000. ProShare Advisors LLC acquired a new stake in Nelnet in the first quarter valued at approximately $220,000. Hsbc Holdings PLC grew its stake in shares of Nelnet by 34.9% during the second quarter. Hsbc Holdings PLC now owns 3,443 shares of the credit services provider’s stock worth $348,000 after buying an additional 890 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Nelnet during the second quarter worth $535,000. Institutional investors own 33.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on NNI shares. TD Cowen raised their price objective on Nelnet from $96.00 to $98.00 and gave the company a “hold” rating in a report on Monday, August 12th. StockNews.com downgraded Nelnet from a “buy” rating to a “hold” rating in a research report on Monday, August 12th.

Nelnet Trading Up 1.4 %

Shares of NYSE NNI opened at $112.97 on Friday. The stock has a market cap of $4.11 billion, a P/E ratio of 30.53 and a beta of 0.92. The firm has a 50 day moving average price of $111.16 and a two-hundred day moving average price of $104.22. The company has a debt-to-equity ratio of 2.97, a quick ratio of 33.51 and a current ratio of 33.51. Nelnet, Inc. has a 52-week low of $81.67 and a 52-week high of $116.13.

Nelnet (NYSE:NNI) last announced its earnings results on Thursday, August 8th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.13). The company had revenue of $324.90 million for the quarter. Nelnet had a return on equity of 4.71% and a net margin of 7.44%. As a group, equities analysts forecast that Nelnet, Inc. will post 5.9 EPS for the current year.

Nelnet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date was Friday, August 30th. Nelnet’s dividend payout ratio is presently 30.27%.

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.