Genovese Burford & Brothers Wealth & Retirement Plan Management LLC reduced its holdings in Nelnet, Inc. (NYSE:NNI) by 16.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 15,140 shares of the credit services provider’s stock after selling 2,952 shares during the quarter. Nelnet makes up about 2.1% of Genovese Burford & Brothers Wealth & Retirement Plan Management LLC’s holdings, making the stock its 11th largest holding. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC’s holdings in Nelnet were worth $789,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of NNI. Public Employees Retirement System of Ohio boosted its stake in shares of Nelnet by 6.1% in the second quarter. Public Employees Retirement System of Ohio now owns 2,156 shares of the credit services provider’s stock worth $101,000 after acquiring an additional 123 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Nelnet in the third quarter worth approximately $174,000. Creative Planning acquired a new stake in shares of Nelnet in the fourth quarter worth approximately $304,000. Teacher Retirement System of Texas acquired a new stake in shares of Nelnet in the fourth quarter worth approximately $396,000. Finally, UBS Asset Management Americas Inc. boosted its stake in shares of Nelnet by 47.8% in the fourth quarter. UBS Asset Management Americas Inc. now owns 11,384 shares of the credit services provider’s stock worth $624,000 after acquiring an additional 3,682 shares during the last quarter. 41.32% of the stock is currently owned by institutional investors.
Shares of Nelnet, Inc. (NYSE:NNI) opened at $55.36 on Tuesday. The company has a debt-to-equity ratio of 9.86, a current ratio of 99.01 and a quick ratio of 99.01. The stock has a market capitalization of $2,284.60, a P/E ratio of 12.66 and a beta of 0.86. Nelnet, Inc. has a 12 month low of $38.72 and a 12 month high of $59.68.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Wednesday, February 28th. Nelnet’s dividend payout ratio is presently 15.46%.
In other Nelnet news, major shareholder Angie Muhleisen sold 2,000 shares of the business’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $52.56, for a total transaction of $105,120.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold 6,000 shares of company stock worth $315,720 over the last ninety days. Corporate insiders own 46.10% of the company’s stock.
TRADEMARK VIOLATION WARNING: This piece was published by Markets Daily and is the sole property of of Markets Daily. If you are accessing this piece on another publication, it was illegally stolen and reposted in violation of US & international copyright and trademark legislation. The correct version of this piece can be read at https://www.themarketsdaily.com/2018/03/13/nelnet-inc-nni-shares-sold-by-genovese-burford-brothers-wealth-retirement-plan-management-llc-2.html.
Nelnet Company Profile
Nelnet, Inc focuses on delivering education-related products and services and student loan asset management. The Company is engaged in student loan servicing, tuition payment processing and school information systems, and communications. The Company’s segments include Loan Systems and Servicing, Tuition Payment Processing and Campus Commerce, Communications, Asset Generation and Management, and Corporate and Other Activities.
Want to see what other hedge funds are holding NNI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nelnet, Inc. (NYSE:NNI).
Receive News & Ratings for Nelnet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nelnet and related companies with MarketBeat.com's FREE daily email newsletter.