Nelnet, Inc. $NNI Shares Bought by American Century Companies Inc.

American Century Companies Inc. lifted its holdings in shares of Nelnet, Inc. (NYSE:NNI) by 18.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 143,014 shares of the credit services provider’s stock after buying an additional 21,782 shares during the period. American Century Companies Inc.’s holdings in Nelnet were worth $17,322,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of NNI. Ameritas Advisory Services LLC acquired a new position in Nelnet during the second quarter worth $29,000. Financial Management Professionals Inc. acquired a new stake in Nelnet in the second quarter valued at $32,000. Maseco LLP acquired a new stake in Nelnet in the second quarter valued at $45,000. Russell Investments Group Ltd. boosted its position in shares of Nelnet by 576.5% during the 1st quarter. Russell Investments Group Ltd. now owns 460 shares of the credit services provider’s stock worth $51,000 after purchasing an additional 392 shares in the last quarter. Finally, SVB Wealth LLC purchased a new stake in shares of Nelnet during the 1st quarter worth $58,000. 33.51% of the stock is currently owned by hedge funds and other institutional investors.

Nelnet Price Performance

Shares of NYSE:NNI opened at $131.18 on Wednesday. The company has a debt-to-equity ratio of 2.27, a quick ratio of 29.41 and a current ratio of 29.42. The business’s fifty day moving average price is $128.94 and its two-hundred day moving average price is $124.41. The stock has a market cap of $4.71 billion, a PE ratio of 14.53 and a beta of 0.83. Nelnet, Inc. has a one year low of $98.15 and a one year high of $136.68.

Nelnet (NYSE:NNI) last released its quarterly earnings results on Thursday, November 6th. The credit services provider reported $2.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $1.43. Nelnet had a return on equity of 10.09% and a net margin of 14.86%.The company had revenue of $427.76 million during the quarter, compared to analysts’ expectations of $372.00 million. On average, analysts forecast that Nelnet, Inc. will post 4.52 EPS for the current fiscal year.

Nelnet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a $0.33 dividend. This is a positive change from Nelnet’s previous quarterly dividend of $0.30. The ex-dividend date is Monday, December 1st. This represents a $1.32 dividend on an annualized basis and a yield of 1.0%. Nelnet’s payout ratio is currently 11.09%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NNI. TD Cowen increased their price target on shares of Nelnet from $130.00 to $135.00 and gave the company a “hold” rating in a report on Monday, November 10th. Wall Street Zen lowered shares of Nelnet from a “strong-buy” rating to a “hold” rating in a research report on Saturday, November 15th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Nelnet in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $135.00.

Insider Transactions at Nelnet

In other Nelnet news, Director Thomas Edward Henning sold 5,094 shares of the firm’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $128.87, for a total transaction of $656,463.78. Following the sale, the director directly owned 11,058 shares of the company’s stock, valued at $1,425,044.46. This trade represents a 31.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 50.90% of the company’s stock.

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.