Kingsview Wealth Management LLC Makes New Investment in Nelnet, Inc. (NYSE:NNI)

Kingsview Wealth Management LLC acquired a new stake in shares of Nelnet, Inc. (NYSE:NNI) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 23,071 shares of the credit services provider’s stock, valued at approximately $2,613,000.

A number of other hedge funds have also recently modified their holdings of NNI. Quest Partners LLC lifted its position in Nelnet by 34,283.3% during the 3rd quarter. Quest Partners LLC now owns 2,063 shares of the credit services provider’s stock valued at $234,000 after acquiring an additional 2,057 shares during the period. Security National Bank of Sioux City Iowa IA bought a new position in shares of Nelnet during the second quarter valued at approximately $212,000. ProShare Advisors LLC bought a new position in shares of Nelnet during the first quarter valued at approximately $220,000. Landscape Capital Management L.L.C. purchased a new position in shares of Nelnet during the third quarter valued at approximately $288,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Nelnet in the 3rd quarter worth approximately $306,000. Institutional investors own 33.51% of the company’s stock.

Nelnet Stock Up 1.9 %

Shares of Nelnet stock opened at $107.93 on Monday. The company has a 50-day simple moving average of $112.52 and a two-hundred day simple moving average of $108.71. The stock has a market capitalization of $3.92 billion, a PE ratio of 35.50 and a beta of 0.92. Nelnet, Inc. has a 52-week low of $82.22 and a 52-week high of $127.32. The company has a debt-to-equity ratio of 2.78, a quick ratio of 31.47 and a current ratio of 31.47.

Nelnet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.28 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.12 dividend on an annualized basis and a yield of 1.04%. Nelnet’s payout ratio is currently 36.84%.

Insider Activity at Nelnet

In other Nelnet news, insider William J. Munn sold 2,500 shares of Nelnet stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $108.89, for a total value of $272,225.00. Following the completion of the sale, the insider now owns 9,354 shares of the company’s stock, valued at approximately $1,018,557.06. This trade represents a 21.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 50.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

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.