Vestcor Inc Sells 3,967 Shares of Nelnet, Inc. (NYSE:NNI)

Vestcor Inc cut its holdings in Nelnet, Inc. (NYSE:NNI) by 32.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,361 shares of the credit services provider’s stock after selling 3,967 shares during the period. Vestcor Inc’s holdings in Nelnet were worth $893,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. FMR LLC increased its holdings in shares of Nelnet by 20.3% during the 3rd quarter. FMR LLC now owns 556 shares of the credit services provider’s stock valued at $63,000 after acquiring an additional 94 shares during the last quarter. D.A. Davidson & CO. raised its position in shares of Nelnet by 0.8% in the third quarter. D.A. Davidson & CO. now owns 17,536 shares of the credit services provider’s stock valued at $1,987,000 after purchasing an additional 136 shares during the period. MML Investors Services LLC boosted its holdings in Nelnet by 7.4% during 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 during the period. Crawford Fund Management LLC increased its stake in shares of Nelnet by 0.4% in the third quarter. Crawford Fund Management LLC now owns 57,787 shares of the credit services provider’s stock worth $6,546,000 after purchasing an additional 217 shares during the period. Finally, Christopher J. Hasenberg Inc acquired a new position in shares of Nelnet during the 4th quarter worth about $38,000. 33.51% of the stock is owned by institutional investors and hedge funds.

Nelnet Price Performance

Shares of NNI stock opened at $115.57 on Friday. Nelnet, Inc. has a 12 month low of $87.02 and a 12 month high of $127.32. The company has a market capitalization of $4.19 billion, a P/E ratio of 38.02 and a beta of 0.89. The stock has a 50 day moving average of $111.75 and a two-hundred day moving average of $111.19. The company has a current ratio of 31.47, a quick ratio of 31.47 and a debt-to-equity ratio of 2.78.

Nelnet (NYSE:NNI) last posted its quarterly earnings results on Thursday, February 27th. The credit services provider reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.21. Nelnet had a net margin of 5.54% and a return on equity of 3.78%. The firm had revenue of $401.61 million for the quarter, compared to the consensus estimate of $335.00 million. As a group, equities analysts expect that Nelnet, Inc. will post 4.52 EPS for the current year.

Nelnet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.28 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.12 dividend on an annualized basis and a yield of 0.97%. Nelnet’s payout ratio is currently 22.40%.

Analysts Set New Price Targets

Separately, StockNews.com raised Nelnet from a “hold” rating to a “buy” rating in a research report on Tuesday, March 4th.

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.