D.A. Davidson & CO. Grows Position in Nelnet, Inc. (NYSE:NNI)

D.A. Davidson & CO. raised its position in shares of Nelnet, Inc. (NYSE:NNIFree Report) by 1.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,258 shares of the credit services provider’s stock after purchasing an additional 270 shares during the period. D.A. Davidson & CO.’s holdings in Nelnet were worth $1,542,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Swiss National Bank raised its position in Nelnet by 1.6% during the 2nd quarter. Swiss National Bank now owns 31,900 shares of the credit services provider’s stock valued at $3,078,000 after purchasing an additional 500 shares in the last quarter. Principal Financial Group Inc. purchased a new position in shares of Nelnet in the 2nd quarter valued at $270,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Nelnet by 31.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,013 shares of the credit services provider’s stock valued at $269,000 after acquiring an additional 723 shares during the period. Rhumbline Advisers increased its holdings in shares of Nelnet by 0.8% in the 2nd quarter. Rhumbline Advisers now owns 32,306 shares of the credit services provider’s stock valued at $3,117,000 after acquiring an additional 260 shares during the period. Finally, LPL Financial LLC increased its holdings in shares of Nelnet by 15.4% in the 2nd quarter. LPL Financial LLC now owns 14,025 shares of the credit services provider’s stock valued at $1,353,000 after acquiring an additional 1,875 shares during the period. 33.51% of the stock is owned by institutional investors.

Nelnet Stock Up 1.0 %

Shares of NNI stock opened at $89.16 on Friday. Nelnet, Inc. has a 1-year low of $81.67 and a 1-year high of $101.60. The stock’s fifty day moving average price is $86.51 and its 200 day moving average price is $88.81. The company has a debt-to-equity ratio of 3.82, a current ratio of 44.25 and a quick ratio of 44.25. The company has a market cap of $3.33 billion, a price-to-earnings ratio of 25.47 and a beta of 0.86.

Nelnet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, March 1st will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, February 29th. This represents a $1.12 annualized dividend and a yield of 1.26%. Nelnet’s dividend payout ratio (DPR) is 32.00%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on NNI shares. TD Cowen started coverage on Nelnet in a report on Wednesday, November 1st. They issued a “market perform” rating and a $95.00 price target on the stock. TheStreet downgraded Nelnet from a “b-” rating to a “c” rating in a report on Thursday, November 9th. Finally, StockNews.com downgraded Nelnet from a “buy” rating to a “hold” rating in a report on Friday.

Get Our Latest Report on Nelnet

About Nelnet

(Free Report)

Nelnet, Inc engages in loan servicing, communications, education technology, services, and payment processing businesses worldwide. Its 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.

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Institutional Ownership by Quarter for Nelnet (NYSE:NNI)

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