Teacher Retirement System of Texas Cuts Stake in Nelnet, Inc. (NYSE:NNI)

Teacher Retirement System of Texas lowered its stake in shares of Nelnet, Inc. (NYSE:NNI) by 63.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,655 shares of the credit services provider’s stock after selling 9,785 shares during the period. Teacher Retirement System of Texas’ holdings in Nelnet were worth $499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. CWM LLC lifted its stake in Nelnet by 176.5% in the 4th quarter. CWM LLC now owns 412 shares of the credit services provider’s stock worth $36,000 after purchasing an additional 263 shares in the last quarter. D.A. Davidson & CO. lifted its position in shares of Nelnet by 1.6% in the third quarter. D.A. Davidson & CO. now owns 17,258 shares of the credit services provider’s stock worth $1,542,000 after buying an additional 270 shares in the last quarter. Swiss National Bank boosted its stake in Nelnet by 0.9% during the third quarter. Swiss National Bank now owns 32,200 shares of the credit services provider’s stock valued at $2,876,000 after buying an additional 300 shares during the last quarter. Arizona State Retirement System grew its holdings in Nelnet by 7.2% during the 4th quarter. Arizona State Retirement System now owns 4,470 shares of the credit services provider’s stock valued at $394,000 after buying an additional 302 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Nelnet by 23.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,707 shares of the credit services provider’s stock worth $327,000 after acquiring an additional 694 shares during the last quarter. Hedge funds and other institutional investors own 33.51% of the company’s stock.

Wall Street Analysts Forecast Growth

NNI has been the subject of a number of recent research reports. TD Cowen raised their target price on shares of Nelnet from $90.00 to $96.00 and gave the company a “hold” rating in a report on Tuesday, May 14th. StockNews.com upgraded shares of Nelnet from a “hold” rating to a “buy” rating in a research report on Monday, May 13th.

Nelnet Trading Down 0.4 %

Shares of NNI stock opened at $105.68 on Monday. The company has a market cap of $3.84 billion, a PE ratio of 28.56 and a beta of 0.84. Nelnet, Inc. has a 1 year low of $81.67 and a 1 year high of $110.70. The stock’s 50 day simple moving average is $97.09 and its two-hundred day simple moving average is $90.49. The company has a debt-to-equity ratio of 3.25, a current ratio of 48.33 and a quick ratio of 48.33.

Nelnet (NYSE:NNI) last released its earnings results on Thursday, May 9th. The credit services provider reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.44. The firm had revenue of $579.96 million for the quarter. Nelnet had a return on equity of 4.17% and a net margin of 6.54%. During the same period in the prior year, the firm posted $1.47 EPS. Research analysts predict that Nelnet, Inc. will post 6 earnings per share for the current year.

Nelnet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a $0.28 dividend. The ex-dividend date is Friday, May 31st. This represents a $1.12 annualized dividend and a dividend yield of 1.06%. Nelnet’s dividend payout ratio (DPR) is presently 30.27%.

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.