Quest Partners LLC Grows Holdings in Nelnet, Inc. (NYSE:NNI)

Quest Partners LLC boosted its holdings in shares of Nelnet, Inc. (NYSE:NNI) by 34,283.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 2,063 shares of the credit services provider’s stock after purchasing an additional 2,057 shares during the period. Quest Partners LLC’s holdings in Nelnet were worth $234,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of NNI. Renaissance Technologies LLC purchased a new position in shares of Nelnet during the second quarter worth about $4,660,000. SG Americas Securities LLC acquired a new stake in Nelnet during the 3rd quarter worth approximately $499,000. Bank of Montreal Can purchased a new position in shares of Nelnet in the 2nd quarter valued at approximately $637,000. XTX Topco Ltd acquired a new position in shares of Nelnet in the second quarter valued at approximately $535,000. Finally, CANADA LIFE ASSURANCE Co raised its stake in shares of Nelnet by 3.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 6,760 shares of the credit services provider’s stock worth $640,000 after purchasing an additional 222 shares during the last quarter. 33.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Nelnet

In related news, insider William J. Munn sold 2,500 shares of the business’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 sale, the insider now owns 9,354 shares of the company’s stock, valued at approximately $1,018,557.06. The trade was a 21.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 50.10% of the company’s stock.

Nelnet Stock Down 0.5 %

NNI opened at $109.01 on Wednesday. The business has a 50 day simple moving average of $112.43 and a 200-day simple moving average of $108.88. Nelnet, Inc. has a 12 month low of $82.22 and a 12 month high of $127.32. The stock has a market capitalization of $3.96 billion, a P/E ratio of 36.05 and a beta of 0.92. The company has a debt-to-equity ratio of 2.78, a current ratio of 31.47 and a quick ratio of 31.47.

Nelnet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.28 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.12 annualized dividend and a dividend yield of 1.03%. Nelnet’s payout ratio is currently 36.84%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on NNI shares. StockNews.com cut shares of Nelnet from a “buy” rating to a “hold” rating in a research note on Monday, August 12th. TD Cowen boosted their price target on shares of Nelnet from $96.00 to $98.00 and gave the stock 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.