ClariVest Asset Management LLC decreased its position in shares of Nelnet Inc. (NYSE:NNI) by 22.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,600 shares of the company’s stock after selling 10,800 shares during the period. ClariVest Asset Management LLC’s holdings in Nelnet were worth $1,307,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Royal Bank of Canada boosted 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 worth $102,000 after buying an additional 158 shares during the period. Teachers Advisors Inc. boosted 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 worth $1,486,000 after buying an additional 626 shares during the period. BlackRock Group LTD boosted 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 worth $984,000 after buying an additional 3,521 shares during the period. Adams Diversified Equity Fund Inc. acquired a new position in shares of Nelnet during the second quarter worth about $361,000. Finally, Palo Capital Inc. acquired a new position in shares of Nelnet during the second quarter worth about $376,000. 40.79% of the stock is owned by institutional investors.
Shares of Nelnet Inc. (NYSE:NNI) traded down 0.71% on Thursday, reaching $39.39. 33,595 shares of the company’s stock traded hands. Nelnet Inc. has a 12-month low of $27.80 and a 12-month high of $42.65. The stock has a 50-day moving average price of $38.13 and a 200-day moving average price of $37.54. The company has a market cap of $1.67 billion, a PE ratio of 8.38 and a beta of 0.97.
Nelnet (NYSE:NNI) last posted its quarterly earnings results on Thursday, August 4th. The company reported $1.13 EPS for the quarter, missing the Zacks’ 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 quarter in the prior year, the firm earned $1.38 earnings per share. Equities research analysts anticipate that Nelnet Inc. will post $4.70 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date was Tuesday, August 30th. Nelnet’s payout ratio is presently 10.28%.
Separately, Compass Point lowered their price target on shares of Nelnet from $50.00 to $47.00 and set a “buy” rating for the company in a research report on Monday, August 8th.
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