Denali Advisors LLC Increases Position in Nelnet, Inc. (NYSE:NNI)

Denali Advisors LLC boosted its holdings in Nelnet, Inc. (NYSE:NNI) by 33.0% during the 2nd quarter, Holdings Channel.com reports. The fund owned 64,510 shares of the credit services provider’s stock after purchasing an additional 16,000 shares during the quarter. Nelnet accounts for 1.8% of Denali Advisors LLC’s investment portfolio, making the stock its 10th biggest holding. Denali Advisors LLC’s holdings in Nelnet were worth $6,506,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Nelnet by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 1,313,570 shares of the credit services provider’s stock valued at $124,329,000 after acquiring an additional 3,485 shares in the last quarter. Farmers & Merchants Investments Inc. lifted its position in Nelnet by 1.4% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 1,206,546 shares of the credit services provider’s stock valued at $114,200,000 after acquiring an additional 16,820 shares in the last quarter. American Century Companies Inc. lifted its position in Nelnet by 4.9% in the 2nd quarter. American Century Companies Inc. now owns 122,055 shares of the credit services provider’s stock valued at $12,310,000 after acquiring an additional 5,752 shares in the last quarter. Bandera Partners LLC lifted its position in Nelnet by 7.7% in the 4th quarter. Bandera Partners LLC now owns 120,583 shares of the credit services provider’s stock valued at $10,638,000 after acquiring an additional 8,583 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Nelnet by 1.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 118,046 shares of the credit services provider’s stock valued at $11,906,000 after acquiring an additional 1,280 shares in the last quarter. Institutional investors own 33.51% of the company’s stock.

Analyst Upgrades and Downgrades

NNI has been the subject of several analyst reports. StockNews.com lowered shares of Nelnet from a “buy” rating to a “hold” rating in a research note on Monday, August 12th. TD Cowen increased their price objective on shares of Nelnet from $96.00 to $98.00 and gave the company a “hold” rating in a research note on Monday, August 12th.

Nelnet Trading Up 1.2 %

Shares of NNI stock opened at $114.32 on Tuesday. The company has a 50 day moving average of $110.11 and a 200-day moving average of $101.89. The company has a quick ratio of 33.51, a current ratio of 33.51 and a debt-to-equity ratio of 2.97. Nelnet, Inc. has a 12-month low of $81.67 and a 12-month high of $115.61. The firm has a market cap of $4.16 billion, a P/E ratio of 30.90 and a beta of 0.92.

Nelnet (NYSE:NNI) last issued its quarterly earnings results on Thursday, August 8th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.13). Nelnet had a return on equity of 4.71% and a net margin of 7.44%. The company had revenue of $324.90 million for the quarter. Sell-side analysts anticipate that Nelnet, Inc. will post 5.9 earnings per share for the current year.

Nelnet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a $0.28 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.12 dividend on an annualized basis and a yield of 0.98%. Nelnet’s dividend payout ratio is 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.