California State Teachers Retirement System lowered its stake in Nelnet Inc. (NYSE:NNI) by 10.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 42,414 shares of the company’s stock after selling 4,865 shares during the period. California State Teachers Retirement System owned about 0.10% of Nelnet worth $1,474,000 as of its most recent filing with the SEC.
A number of other large investors have also bought and sold shares of NNI. Royal Bank of Canada raised its position in shares of Nelnet by 6.5% in the first quarter. Royal Bank of Canada now owns 2,587 shares of the company’s stock valued at $102,000 after buying an additional 158 shares during the last quarter. Legal & General Group Plc raised its position in shares of Nelnet by 14.8% in the first quarter. Legal & General Group Plc now owns 3,460 shares of the company’s stock valued at $138,000 after buying an additional 445 shares during the last quarter. Adams Diversified Equity Fund Inc. purchased a new position in shares of Nelnet during the second quarter valued at approximately $361,000. Palo Capital Inc. purchased a new position in shares of Nelnet during the second quarter valued at approximately $376,000. Finally, Americafirst Capital Management LLC purchased a new position in shares of Nelnet during the second quarter valued at approximately $525,000. Institutional investors own 41.42% of the company’s stock.
Shares of Nelnet Inc. (NYSE:NNI) traded up 1.24% on Tuesday, hitting $38.41. The stock had a trading volume of 71,877 shares. The firm’s 50-day moving average is $36.31 and its 200 day moving average is $37.49. Nelnet Inc. has a 1-year low of $27.80 and a 1-year high of $42.65. The stock has a market cap of $1.63 billion, a P/E ratio of 8.17 and a beta of 0.94.
Nelnet (NYSE:NNI) last released its quarterly earnings results on Thursday, August 4th. The company reported $1.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by $0.15. Nelnet had a return on equity of 12.39% and a net margin of 18.26%. During the same period in the prior year, the company posted $1.38 EPS. Equities analysts forecast that Nelnet Inc. will post $4.70 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $0.48 annualized dividend and a dividend yield of 1.25%. Nelnet’s dividend payout ratio (DPR) is presently 10.28%.
Separately, Compass Point decreased their target price on Nelnet from $50.00 to $47.00 and set a “buy” rating for the company in a research report on Monday, August 8th.
Nelnet Company Profile
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