Swiss National Bank Trims Stake in Nelnet, Inc. (NYSE:NNI)

Swiss National Bank reduced its position in Nelnet, Inc. (NYSE:NNI) by 2.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,500 shares of the credit services provider’s stock after selling 700 shares during the quarter. Swiss National Bank owned 0.08% of Nelnet worth $2,779,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. CWM LLC boosted its holdings in shares of Nelnet by 176.5% in the 4th quarter. CWM LLC now owns 412 shares of the credit services provider’s stock worth $36,000 after purchasing an additional 263 shares in the last quarter. D.A. Davidson & CO. boosted its holdings in shares of Nelnet by 1.6% in the 3rd quarter. D.A. Davidson & CO. now owns 17,258 shares of the credit services provider’s stock worth $1,542,000 after purchasing an additional 270 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of Nelnet by 7.2% in the 4th quarter. Arizona State Retirement System now owns 4,470 shares of the credit services provider’s stock worth $394,000 after purchasing an additional 302 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Nelnet by 23.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,707 shares of the credit services provider’s stock worth $327,000 after purchasing an additional 694 shares in the last quarter. Finally, Bar Harbor Wealth Management boosted its holdings in shares of Nelnet by 0.9% in the 4th quarter. Bar Harbor Wealth Management now owns 105,992 shares of the credit services provider’s stock worth $9,351,000 after purchasing an additional 952 shares in the last quarter. 33.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on NNI shares. StockNews.com upgraded Nelnet from a “hold” rating to a “buy” rating in a report on Monday, May 13th. TD Cowen boosted their target price on Nelnet from $90.00 to $96.00 and gave the company a “hold” rating in a research note on Tuesday, May 14th.

Nelnet Trading Down 0.1 %

NYSE NNI opened at $107.91 on Thursday. Nelnet, Inc. has a 1-year low of $81.67 and a 1-year high of $110.70. The company has a current ratio of 48.33, a quick ratio of 48.33 and a debt-to-equity ratio of 3.25. The stock has a 50-day moving average of $95.98 and a 200-day moving average of $90.10. The firm has a market cap of $4.00 billion, a PE ratio of 29.16 and a beta of 0.84.

Nelnet (NYSE:NNI) last released its earnings results on Thursday, May 9th. The credit services provider reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.44. Nelnet had a return on equity of 4.17% and a net margin of 6.54%. The company had revenue of $579.96 million during the quarter. During the same period last year, the firm posted $1.47 EPS. As a group, sell-side analysts forecast that Nelnet, Inc. will post 6 EPS for the current year.

Nelnet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date is Friday, May 31st. Nelnet’s payout ratio is 30.27%.

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.