Invesco Ltd. decreased its position in shares of Nelnet, Inc. (NYSE:NNI) by 32.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,434 shares of the credit services provider’s stock after selling 39,514 shares during the quarter. Invesco Ltd. owned approximately 0.21% of Nelnet worth $4,882,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Commonwealth Bank of Australia boosted its holdings in shares of Nelnet by 34.6% during the 2nd quarter. Commonwealth Bank of Australia now owns 3,500 shares of the credit services provider’s stock valued at $207,000 after acquiring an additional 900 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Nelnet by 0.3% during the 2nd quarter. Northern Trust Corp now owns 392,640 shares of the credit services provider’s stock valued at $23,253,000 after acquiring an additional 1,256 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Nelnet by 2.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 142,222 shares of the credit services provider’s stock valued at $8,422,000 after acquiring an additional 2,866 shares in the last quarter. Rational Advisors LLC acquired a new stake in shares of Nelnet during the 2nd quarter valued at $175,000. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Nelnet by 2.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 153,017 shares of the credit services provider’s stock valued at $8,932,000 after acquiring an additional 3,496 shares in the last quarter. 34.98% of the stock is currently owned by institutional investors.
Separately, ValuEngine downgraded Nelnet from a “hold” rating to a “sell” rating in a report on Friday, September 20th.
NYSE NNI opened at $60.66 on Friday. The company has a quick ratio of 70.11, a current ratio of 70.11 and a debt-to-equity ratio of 9.15. Nelnet, Inc. has a twelve month low of $47.59 and a twelve month high of $69.97. The company has a market cap of $2.38 billion, a price-to-earnings ratio of 10.88 and a beta of 0.39. The business’s fifty day moving average is $65.52 and its 200 day moving average is $61.25.
Nelnet (NYSE:NNI) last released its quarterly earnings data on Thursday, August 8th. The credit services provider reported $1.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.08. The company had revenue of $241.97 million for the quarter, compared to the consensus estimate of $281.00 million. Nelnet had a return on equity of 9.61% and a net margin of 7.45%. During the same quarter last year, the business posted $1.30 EPS.
The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend was Thursday, August 29th.
Nelnet, Inc provides education related products and services, and loan asset management services worldwide. The company's Loan Servicing and Systems is involved in loan servicing activities, such as loan conversion, application processing, borrower updates, customer service, payment processing, due diligence procedures, funds management reconciliation, and claim processing activities for student loan portfolio and third-party clients.
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