Inspire Investing LLC acquired a new position in Nelnet, Inc. (NYSE: NNIGet a rating) in the first trimester, Holdings Channel.com reports. The company bought 2,780 shares of the credit service provider, valued at around $236,000.

A number of other hedge funds also changed their stakes in the company. Invesco Ltd. increased its position in Nelnet shares by 4.7% during the third quarter. Invesco Ltd. now owns 27,995 shares of the credit service provider valued at $2,218,000 after purchasing an additional 1,258 shares last quarter. Cubist Systematic Strategies LLC purchased a new position in Nelnet stock during the third quarter worth approximately $392,000. Paragon Capital Management Ltd bought a new position in Nelnet shares during the fourth quarter, valued at around $41,000. Bar Harbor Trust Services increased its position in Nelnet shares by 26.5% during the fourth quarter. Bar Harbor Trust Services now owns 97,777 shares of the credit service provider valued at $9,551,000 after buying an additional 20,460 shares last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in Nelnet stock during the fourth quarter valued at approximately $1,091,000.

Shares of Nelnet Stock opened at $85.68 on Friday. The company has a market capitalization of $3.24 billion, a price-earnings ratio of 7.19 and a beta of 0.68. The company has a 50-day moving average price of $82.62 and a 200-day moving average price of $85.44. The company has a quick ratio of 72.66, a current ratio of 72.67 and a debt ratio of 5.43. Nelnet, Inc. has a 12-month low of $72.00 and a 12-month high of $99.79.

Nenet (NYSE: NNIGet a rating) last announced its quarterly results on Monday, May 9. The credit service provider reported EPS of $1.99 for the quarter. Nelnet had a net margin of 27.45% and a return on equity of 10.39%. The company had revenue of $481.56 million in the quarter.

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 15. Investors of record on Wednesday, June 1 received a dividend of $0.24. This represents a dividend of $0.96 on an annualized basis and a dividend yield of 1.12%. The ex-dividend date was Tuesday, May 31. Nelnet’s payout ratio is 8.06%.

Separately, StockNews.com upgraded Nelnet from a “hold” rating to a “buy” rating in a Friday, May 13 research report.

In related news, insider William J. Munn sold 500 shares in a trade dated Monday, April 11. The shares were sold at an average price of $84.60, for a total value of $42,300.00. Following the completion of the transaction, the insider now owns 21,771 shares of the company, valued at approximately $1,841,826.60. The sale was disclosed in a legal filing with the SEC, accessible via this hyperlink. In the past ninety days, insiders have sold 1,500 shares of the company valued at $122,785. 50.30% of the shares are held by insiders.

Nelnet profile (Get a rating)

Nelnet, Inc engages in loan servicing, communications, education technology, services and payment processing worldwide. The Loan Management and Systems segment provides loan conversion, application processing, borrower update, customer service, payment processing, due diligence procedures, funds management reconciliation and complaints handling.

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Want to see which other hedge funds hold NNI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nelnet, Inc. (NYSE: NNIGet a rating).

Institutional ownership by quarter for Nelnet (NYSE:NNI)



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