Dimensional Fund Advisors LP Has $207.61 Million Stake in Nelnet, Inc. (NYSE:NNI)

Dimensional Fund Advisors LP trimmed its holdings in shares of Nelnet, Inc. (NYSE:NNI) by 1.2% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,058,427 shares of the credit services provider’s stock after selling 25,014 shares during the period. Dimensional Fund Advisors LP owned about 0.06% of Nelnet worth $207,613,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. TFO Wealth Partners LLC increased its position in Nelnet by 49,900.0% during the fourth quarter. TFO Wealth Partners LLC now owns 500 shares of the credit services provider’s stock worth $44,000 after buying an additional 499 shares during the last quarter. Covestor Ltd increased its stake in shares of Nelnet by 139.2% in the first quarter. Covestor Ltd now owns 806 shares of the credit services provider’s stock worth $76,000 after purchasing an additional 469 shares during the period. SG Americas Securities LLC bought a new position in shares of Nelnet in the first quarter worth about $209,000. ProShare Advisors LLC bought a new position in shares of Nelnet in the first quarter worth about $220,000. Finally, Quest Partners LLC bought a new position in shares of Nelnet in the fourth quarter worth about $282,000. 33.51% of the stock is owned by institutional investors and hedge funds.

Nelnet Trading Up 1.5 %

Shares of NNI opened at $114.95 on Friday. Nelnet, Inc. has a 12-month low of $81.67 and a 12-month high of $116.13. The company has a quick ratio of 33.51, a current ratio of 33.51 and a debt-to-equity ratio of 2.97. The firm has a market capitalization of $4.18 billion, a price-to-earnings ratio of 31.07 and a beta of 0.92. The stock’s 50-day moving average price is $110.77 and its 200 day moving average price is $102.26.

Nelnet (NYSE:NNI) last issued its quarterly earnings results on Thursday, August 8th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.13). Nelnet had a net margin of 7.44% and a return on equity of 4.71%. The firm had revenue of $324.90 million for the quarter. As a group, research analysts predict that Nelnet, Inc. will post 5.9 earnings per share for the current year.

Nelnet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date was Friday, August 30th. Nelnet’s payout ratio is 30.27%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on NNI shares. TD Cowen lifted their price objective on Nelnet from $96.00 to $98.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. StockNews.com lowered Nelnet from a “buy” rating to a “hold” rating in a research note on Monday, August 12th.

About Nelnet

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.