Algert Global LLC Has $2.42 Million Position in Nelnet, Inc. $NNI

Algert Global LLC boosted its holdings in Nelnet, Inc. (NYSE:NNI) by 10.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,854 shares of the credit services provider’s stock after purchasing an additional 1,990 shares during the quarter. Algert Global LLC owned about 0.06% of Nelnet worth $2,424,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Wells Fargo & Company MN boosted its holdings in Nelnet by 23.9% during the 4th quarter. Wells Fargo & Company MN now owns 9,214 shares of the credit services provider’s stock worth $984,000 after acquiring an additional 1,776 shares during the last quarter. Invesco Ltd. boosted its holdings in Nelnet by 2.8% during the 4th quarter. Invesco Ltd. now owns 33,139 shares of the credit services provider’s stock worth $3,540,000 after acquiring an additional 892 shares during the last quarter. Sterling Capital Management LLC boosted its holdings in shares of Nelnet by 796.0% in the 4th quarter. Sterling Capital Management LLC now owns 448 shares of the credit services provider’s stock worth $48,000 after buying an additional 398 shares during the last quarter. Barclays PLC boosted its holdings in shares of Nelnet by 5.7% in the 4th quarter. Barclays PLC now owns 30,649 shares of the credit services provider’s stock worth $3,273,000 after buying an additional 1,653 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its holdings in shares of Nelnet by 1.8% in the 4th quarter. MetLife Investment Management LLC now owns 8,510 shares of the credit services provider’s stock worth $909,000 after buying an additional 151 shares during the last quarter. Institutional investors and hedge funds own 33.51% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Nelnet from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 9th.

Nelnet Price Performance

Shares of NYSE:NNI opened at $126.36 on Thursday. Nelnet, Inc. has a fifty-two week low of $98.15 and a fifty-two week high of $130.41. The company’s 50-day moving average is $121.81 and its 200 day moving average is $115.29. The company has a market capitalization of $4.57 billion, a P/E ratio of 13.99 and a beta of 0.90. The company has a debt-to-equity ratio of 2.27, a quick ratio of 29.41 and a current ratio of 29.42.

Nelnet (NYSE:NNI) last announced its quarterly earnings data on Wednesday, August 6th. The credit services provider reported $5.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.91 by $3.14. Nelnet had a return on equity of 10.09% and a net margin of 14.86%.The business had revenue of $540.61 million for the quarter, compared to analysts’ expectations of $376.40 million. On average, equities research analysts forecast that Nelnet, Inc. will post 4.52 earnings per share for the current year.

Nelnet announced that its Board of Directors has initiated a share buyback plan on Thursday, May 8th that permits the company to repurchase 5,000,000 outstanding shares. This repurchase authorization permits the credit services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Nelnet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be paid a $0.30 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $1.20 dividend on an annualized basis and a yield of 0.9%. This is an increase from Nelnet’s previous quarterly dividend of $0.28. Nelnet’s dividend payout ratio (DPR) is presently 13.29%.

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.