Voya Investment Management LLC Sells 381 Shares of Nelnet, Inc. (NYSE:NNI)

Voya Investment Management LLC trimmed its holdings in Nelnet, Inc. (NYSE:NNI) by 7.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,454 shares of the credit services provider’s stock after selling 381 shares during the period. Voya Investment Management LLC’s holdings in Nelnet were worth $476,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Nelnet by 8.0% in the fourth quarter. Vanguard Group Inc. now owns 1,347,756 shares of the credit services provider’s stock worth $143,954,000 after purchasing an additional 99,885 shares in the last quarter. Farmers & Merchants Investments Inc. increased its holdings in shares of Nelnet by 0.5% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 1,187,527 shares of the credit services provider’s stock valued at $126,840,000 after acquiring an additional 5,708 shares during the last quarter. Proficio Capital Partners LLC raised its stake in shares of Nelnet by 16,773.6% in the 4th quarter. Proficio Capital Partners LLC now owns 482,247 shares of the credit services provider’s stock valued at $482,000 after acquiring an additional 479,389 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Nelnet by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 361,553 shares of the credit services provider’s stock worth $38,627,000 after purchasing an additional 1,060 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Nelnet by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 201,969 shares of the credit services provider’s stock worth $21,572,000 after purchasing an additional 2,778 shares during the period. Institutional investors and hedge funds own 33.51% of the company’s stock.

Nelnet Trading Up 5.9 %

Nelnet stock opened at $112.64 on Friday. The business’s 50-day simple moving average is $109.27 and its 200-day simple moving average is $109.84. Nelnet, Inc. has a 52 week low of $97.13 and a 52 week high of $127.32. The firm has a market capitalization of $4.09 billion, a PE ratio of 37.05 and a beta of 0.93. The company has a debt-to-equity ratio of 2.78, a quick ratio of 31.47 and a current ratio of 31.47.

Nelnet (NYSE:NNI) last released its earnings results on Thursday, May 8th. The credit services provider reported $2.39 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.47. Nelnet had a net margin of 5.54% and a return on equity of 3.78%. The business had revenue of $398.49 million during the quarter, compared to analysts’ expectations of $393.00 million. Equities research analysts forecast that Nelnet, Inc. will post 4.52 earnings per share for the current year.

Nelnet declared that its Board of Directors has initiated a share buyback program on Thursday, May 8th that authorizes the company to buyback 5,000,000 outstanding shares. This buyback authorization authorizes the credit services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Nelnet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Monday, June 2nd. Nelnet’s dividend payout ratio is currently 22.40%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Nelnet from a “hold” rating to a “buy” rating in a research note on Tuesday, March 4th.

Nelnet Company Profile

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