General American Investors Co. Inc. Lowers Stock Position in Nelnet, Inc. $NNI

General American Investors Co. Inc. decreased its position in shares of Nelnet, Inc. (NYSE:NNI) by 3.9% during the first quarter, Holdings Channel reports. The institutional investor owned 234,026 shares of the credit services provider’s stock after selling 9,389 shares during the period. Nelnet makes up approximately 2.0% of General American Investors Co. Inc.’s investment portfolio, making the stock its 16th biggest position. General American Investors Co. Inc.’s holdings in Nelnet were worth $30,180,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the company. AQR Capital Management LLC raised its holdings in shares of Nelnet by 20.9% during the 1st quarter. AQR Capital Management LLC now owns 8,575 shares of the credit services provider’s stock worth $951,000 after acquiring an additional 1,485 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Nelnet by 2.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,694 shares of the credit services provider’s stock valued at $1,297,000 after buying an additional 299 shares during the period. Jones Financial Companies Lllp boosted its holdings in Nelnet by 1,246.0% during the 1st quarter. Jones Financial Companies Lllp now owns 3,365 shares of the credit services provider’s stock valued at $373,000 after acquiring an additional 3,115 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Nelnet by 7.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 58,415 shares of the credit services provider’s stock worth $6,480,000 after purchasing an additional 3,923 shares during the last quarter. Finally, Jane Street Group LLC increased its position in shares of Nelnet by 583.3% during the first quarter. Jane Street Group LLC now owns 16,023 shares of the credit services provider’s stock worth $1,777,000 after acquiring an additional 13,678 shares during the period. Hedge funds and other institutional investors own 33.51% of the company’s stock.

Nelnet Stock Performance

Nelnet stock traded up $0.75 during midday trading on Friday, hitting $133.26. 76,705 shares of the company were exchanged, compared to its average volume of 135,060. The company has a debt-to-equity ratio of 2.14, a quick ratio of 24.07 and a current ratio of 24.07. The firm has a market capitalization of $4.79 billion, a PE ratio of 11.61 and a beta of 0.78. The business has a fifty day simple moving average of $130.68 and a two-hundred day simple moving average of $132.06. Nelnet, Inc. has a fifty-two week low of $116.62 and a fifty-two week high of $144.38.

Nelnet (NYSE:NNI) last posted its earnings results on Thursday, May 7th. The credit services provider reported $1.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.66 by ($0.72). The firm had revenue of $419.06 million during the quarter, compared to analyst estimates of $443.84 million. Nelnet had a net margin of 18.45% and a return on equity of 11.73%. On average, sell-side analysts forecast that Nelnet, Inc. will post 8.18 earnings per share for the current year.

Nelnet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a dividend of $0.33 per share. The ex-dividend date was Monday, June 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.0%. Nelnet’s dividend payout ratio (DPR) is 11.50%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NNI. Weiss Ratings upgraded Nelnet from a “hold (c)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Zacks Research cut Nelnet from a “hold” rating to a “strong sell” rating in a research note on Wednesday. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Nelnet presently has a consensus rating of “Hold” and a consensus price target of $140.00.

About Nelnet

Nelnet, Inc (NYSE: NNI) is a diversified education services company founded in 1978 and headquartered in Lincoln, Nebraska. Originally established as the National Education Loan Network by Michael S. Dunlap, the company has grown into a prominent provider of student loan servicing and education finance solutions in the United States.

At the core of Nelnet’s business is student loan servicing, where it administers and manages federal and private education loans on behalf of borrowers and lending partners.