Nelnet, Inc. $NNI Stock Sold by Farmers & Merchants Investments Inc.

by · The Markets Daily

Farmers & Merchants Investments Inc. reduced its stake in shares of Nelnet, Inc. (NYSE:NNI – Free Report) by 0.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,172,478 shares of the credit services provider’s stock after selling 6,873 shares during the quarter. Nelnet comprises approximately 3.4% of Farmers & Merchants Investments Inc.’s holdings, making the stock its 6th largest position. Farmers & Merchants Investments Inc.’s holdings in Nelnet were worth $144,309,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd bought a new position in Nelnet in the 4th quarter worth about $31,000. Ameritas Advisory Services LLC acquired a new stake in Nelnet during the second quarter valued at $33,000. Integrated Wealth Concepts LLC purchased a new stake in Nelnet in the 2nd quarter worth $38,000. EverSource Wealth Advisors LLC lifted its stake in Nelnet by 51.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 445 shares of the credit services provider’s stock valued at $57,000 after buying an additional 151 shares in the last quarter. Finally, Versant Capital Management Inc lifted its stake in shares of Nelnet by 144.2% in the second quarter. Versant Capital Management Inc now owns 591 shares of the credit services provider’s stock worth $79,000 after buying an additional 349 shares in the last quarter. 33.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NNI has been the subject of several research analyst reports. Weiss Ratings lowered shares of Nelnet from a “buy (b)” rating to a “hold (c+)” rating in a research note on Wednesday, August 12th. TD Cowen reduced their price objective on Nelnet from $130.00 to $125.00 and set a “hold” rating for the company in a research note on Tuesday, October 6th. Finally, Zacks Research cut shares of Nelnet from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 8th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $125.00.

View Our Latest Research Report on Nelnet

Nelnet Price Performance

Shares of NYSE:NNI opened at $122.63 on Friday. The stock has a market cap of $4.39 billion, a price-to-earnings ratio of 15.31 and a beta of 0.77. The company has a debt-to-equity ratio of 1.94, a current ratio of 15.89 and a quick ratio of 15.89. The stock’s 50 day moving average price is $125.94 and its 200 day moving average price is $130.19. Nelnet, Inc. has a 12 month low of $116.62 and a 12 month high of $144.38.

Nelnet (NYSE:NNI – Get Free Report) last announced its earnings results on Thursday, August 6th. The credit services provider reported $1.77 earnings per share for the quarter, missing the consensus estimate of $2.13 by ($0.36). The business had revenue of $410.01 million for the quarter, compared to the consensus estimate of $419.92 million. Nelnet had a net margin of 14.35% and a return on equity of 8.26%. Equities research analysts anticipate that Nelnet, Inc. will post 7.42 earnings per share for the current fiscal year.

Nelnet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Tuesday, September 1st. Nelnet’s dividend payout ratio (DPR) is 15.79%.

About Nelnet

(Free Report)

Nelnet, Inc is a diversified education, technology and communications company headquartered in Lincoln, Nebraska. Its businesses provide services to colleges, universities, schools, students, borrowers and businesses, with a focus on simplifying education-related payments, administration and technology.

The company’s activities include student loan servicing and asset management, tuition payment processing, education technology, school administration solutions and communications services.

See Also

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