Nelnet, Inc. (NYSE:NNI) Position Raised by Farmers & Merchants Investments Inc.

Farmers & Merchants Investments Inc. boosted its position in Nelnet, Inc. (NYSE:NNI) by 1.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,206,546 shares of the credit services provider’s stock after purchasing an additional 16,820 shares during the period. Nelnet makes up approximately 3.9% of Farmers & Merchants Investments Inc.’s investment portfolio, making the stock its 3rd biggest holding. Farmers & Merchants Investments Inc. owned approximately 3.26% of Nelnet worth $114,200,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. CWM LLC lifted its position 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 during the period. TFO Wealth Partners LLC lifted its holdings in Nelnet by 49,900.0% in the fourth quarter. TFO Wealth Partners LLC now owns 500 shares of the credit services provider’s stock valued at $44,000 after acquiring an additional 499 shares during the period. Graham Capital Management L.P. purchased a new position in shares of Nelnet during the 3rd quarter valued at approximately $238,000. Quest Partners LLC acquired a new position in Nelnet in the 4th quarter worth about $282,000. Finally, Inceptionr LLC purchased a new stake in shares of Nelnet during the fourth quarter worth approximately $305,000. Institutional investors own 33.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on NNI. StockNews.com raised Nelnet from a “hold” rating to a “buy” rating in a report on Monday, May 13th. TD Cowen increased their price target on shares of Nelnet from $90.00 to $96.00 and gave the stock a “hold” rating in a research report on Tuesday, May 14th.

Insiders Place Their Bets

In other news, Director Kathleen Anne Farrell sold 1,700 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $101.73, for a total transaction of $172,941.00. Following the sale, the director now owns 16,894 shares of the company’s stock, valued at approximately $1,718,626.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 50.10% of the company’s stock.

Nelnet Stock Performance

Shares of Nelnet stock traded up $0.79 on Tuesday, hitting $101.60. The stock had a trading volume of 4,090 shares, compared to its average volume of 91,207. The company’s 50 day moving average price is $101.34 and its 200 day moving average price is $93.35. The stock has a market cap of $3.70 billion, a price-to-earnings ratio of 27.23 and a beta of 0.91. The company has a current ratio of 48.33, a quick ratio of 48.33 and a debt-to-equity ratio of 3.25. Nelnet, Inc. has a 52-week low of $81.67 and a 52-week high of $110.70.

Nelnet (NYSE:NNI) last announced its earnings results on Thursday, May 9th. The credit services provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.44. Nelnet had a net margin of 6.54% and a return on equity of 4.17%. The business had revenue of $579.96 million for the quarter. During the same quarter last year, the business posted $1.47 earnings per share. On average, research analysts anticipate that Nelnet, Inc. will post 6 EPS for the current year.

Nelnet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date was Friday, May 31st. Nelnet’s dividend payout ratio is presently 30.27%.

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.