Nelnet, Inc. (NYSE:NNI) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC boosted its stake in shares of Nelnet, Inc. (NYSE:NNI) by 0.4% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 360,493 shares of the credit services provider’s stock after acquiring an additional 1,572 shares during the period. Geode Capital Management LLC’s holdings in Nelnet were worth $40,846,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. FMR LLC raised its position in shares of Nelnet by 20.3% during the 3rd quarter. FMR LLC now owns 556 shares of the credit services provider’s stock worth $63,000 after purchasing an additional 94 shares during the last quarter. Quest Partners LLC increased its stake in Nelnet by 34,283.3% during the 3rd quarter. Quest Partners LLC now owns 2,063 shares of the credit services provider’s stock worth $234,000 after buying an additional 2,057 shares in the last quarter. Security National Bank of Sioux City Iowa IA acquired a new position in shares of Nelnet during the second quarter valued at approximately $212,000. MML Investors Services LLC lifted its position in shares of Nelnet by 7.4% in the third quarter. MML Investors Services LLC now owns 2,279 shares of the credit services provider’s stock valued at $258,000 after acquiring an additional 157 shares in the last quarter. Finally, Landscape Capital Management L.L.C. acquired a new stake in shares of Nelnet in the third quarter worth approximately $288,000. 33.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider William J. Munn sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $108.89, for a total transaction of $272,225.00. Following the completion of the sale, the insider now directly owns 9,354 shares in the company, valued at approximately $1,018,557.06. This trade represents a 21.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 50.10% of the stock is currently owned by company insiders.

Nelnet Stock Up 1.4 %

Shares of NYSE NNI opened at $106.35 on Wednesday. The company has a current ratio of 31.47, a quick ratio of 31.47 and a debt-to-equity ratio of 2.78. The company has a 50-day moving average of $110.65 and a 200 day moving average of $109.15. Nelnet, Inc. has a 12-month low of $82.22 and a 12-month high of $127.32. The stock has a market cap of $3.86 billion, a PE ratio of 34.98 and a beta of 0.90.

Nelnet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a $0.28 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.12 annualized dividend and a dividend yield of 1.05%. Nelnet’s dividend payout ratio is presently 36.84%.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Nelnet from a “buy” rating to a “hold” rating in a report on Tuesday.

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.