First Trust Advisors LP purchased a new stake in Nelnet Inc. (NYSE:NNI) during the second quarter, Holdings Channel reports. The institutional investor purchased 42,872 shares of the company’s stock, valued at approximately $1,490,000. First Trust Advisors LP owned 0.10% of Nelnet as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Virginia Retirement System purchased a new position in Nelnet during the first quarter valued at about $787,000. Teachers Advisors Inc. increased its position in shares of Nelnet by 1.7% in the first quarter. Teachers Advisors Inc. now owns 37,755 shares of the company’s stock valued at $1,486,000 after buying an additional 626 shares during the last quarter. BlackRock Group LTD increased its position in shares of Nelnet by 16.4% in the first quarter. BlackRock Group LTD now owns 24,978 shares of the company’s stock valued at $984,000 after buying an additional 3,521 shares during the last quarter. Spark Investment Management LLC purchased a new position in shares of Nelnet during the first quarter valued at $645,000. Finally, Zebra Capital Management LLC increased its position in shares of Nelnet by 70.5% in the first quarter. Zebra Capital Management LLC now owns 74,857 shares of the company’s stock valued at $2,947,000 after buying an additional 30,961 shares during the last quarter. 40.79% of the stock is owned by institutional investors and hedge funds.
Shares of Nelnet Inc. (NYSE:NNI) traded down 0.37% on Thursday, reaching $39.95. 26,026 shares of the company traded hands. Nelnet Inc. has a 52-week low of $27.80 and a 52-week high of $42.65. The firm has a 50-day moving average of $36.55 and a 200-day moving average of $37.49. The company has a market capitalization of $1.70 billion, a PE ratio of 8.50 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 Thomson Reuters’ 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 firm posted $1.38 earnings per share. On average, equities research analysts forecast that Nelnet Inc. will post $4.70 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were paid a $0.12 dividend. The ex-dividend date was Tuesday, August 30th. This represents a $0.48 annualized dividend and a dividend yield of 1.20%. Nelnet’s payout ratio is 10.28%.
Separately, Compass Point cut their target price on shares of Nelnet from $50.00 to $47.00 and set a “buy” rating for the company in a research note on Monday, August 8th.
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