D.A. Davidson & CO. Increases Stock Holdings in Nelnet, Inc. (NYSE:NNI)

D.A. Davidson & CO. increased its position in Nelnet, Inc. (NYSE:NNI) by 0.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,536 shares of the credit services provider’s stock after acquiring an additional 136 shares during the quarter. D.A. Davidson & CO.’s holdings in Nelnet were worth $1,987,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of NNI. Security National Bank of Sioux City Iowa IA bought a new position in Nelnet in the 2nd quarter valued at $212,000. Quest Partners LLC boosted its stake in Nelnet by 34,283.3% during the third quarter. Quest Partners LLC now owns 2,063 shares of the credit services provider’s stock valued at $234,000 after buying an additional 2,057 shares during the period. Landscape Capital Management L.L.C. bought a new stake in Nelnet during the third quarter valued at $288,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Nelnet during the third quarter worth about $306,000. Finally, Intech Investment Management LLC bought a new position in Nelnet in the 3rd quarter worth about $323,000. Hedge funds and other institutional investors own 33.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. StockNews.com lowered Nelnet from a “buy” rating to a “hold” rating in a report on Monday, August 12th. TD Cowen raised their price objective on shares of Nelnet from $96.00 to $98.00 and gave the company a “hold” rating in a research report on Monday, August 12th.

Insider Buying and Selling

In other Nelnet news, insider William J. Munn sold 2,500 shares of the company’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 $1,018,557.06. This represents a 21.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 50.10% of the stock is owned by corporate insiders.

Nelnet Stock Up 0.1 %

Shares of NNI opened at $108.92 on Friday. Nelnet, Inc. has a 1 year low of $82.22 and a 1 year high of $127.32. The company has a debt-to-equity ratio of 2.78, a current ratio of 31.47 and a quick ratio of 31.47. The stock has a 50 day simple moving average of $112.04 and a two-hundred day simple moving average of $108.91. The firm has a market cap of $3.95 billion, a P/E ratio of 35.83 and a beta of 0.92.

Nelnet Announces Dividend

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

Nelnet 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.