Nelnet, Inc. (NYSE:NNI) Stock Position Decreased by nVerses Capital LLC

nVerses Capital LLC trimmed its stake in shares of Nelnet, Inc. (NYSE:NNI) by 60.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 800 shares of the credit services provider’s stock after selling 1,200 shares during the quarter. nVerses Capital LLC’s holdings in Nelnet were worth $81,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of NNI. CWM LLC boosted its holdings in shares of Nelnet by 176.5% in the fourth quarter. CWM LLC now owns 412 shares of the credit services provider’s stock worth $36,000 after buying an additional 263 shares during the period. TFO Wealth Partners LLC grew its stake in Nelnet by 49,900.0% during the 4th quarter. TFO Wealth Partners LLC now owns 500 shares of the credit services provider’s stock valued at $44,000 after acquiring an additional 499 shares in the last quarter. Covestor Ltd grew its position in Nelnet by 139.2% during the first quarter. Covestor Ltd now owns 806 shares of the credit services provider’s stock valued at $76,000 after purchasing an additional 469 shares in the last quarter. SG Americas Securities LLC acquired a new position in Nelnet in the 1st quarter valued at approximately $209,000. Finally, ProShare Advisors LLC acquired a new position in Nelnet in the 1st quarter valued at approximately $220,000. Institutional investors and hedge funds own 33.51% of the company’s stock.

Nelnet Stock Performance

NNI opened at $112.40 on Wednesday. The company has a market cap of $4.09 billion, a PE ratio of 30.38 and a beta of 0.91. The company has a debt-to-equity ratio of 2.97, a quick ratio of 33.51 and a current ratio of 33.51. The stock has a 50-day moving average of $108.34 and a 200-day moving average of $100.43. Nelnet, Inc. has a 52-week low of $81.67 and a 52-week high of $115.61.

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

Nelnet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.00%. The ex-dividend date is Friday, August 30th. Nelnet’s dividend payout ratio is currently 30.27%.

Insider Transactions at Nelnet

In related news, Director Kathleen Anne Farrell sold 1,700 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $101.73, for a total transaction of $172,941.00. Following the completion of the sale, the director now owns 16,894 shares in the company, valued at approximately $1,718,626.62. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 50.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. StockNews.com downgraded Nelnet from a “buy” rating to a “hold” rating in a research note on Monday, August 12th. TD Cowen lifted their target price on shares of Nelnet from $96.00 to $98.00 and gave the company a “hold” rating in a research note on Monday, August 12th.

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.