Bank of Nova Scotia purchased a new position in Nelnet, Inc. (NYSE:NNI – Get Rating) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,773 shares of the credit services provider’s stock, valued at approximately $252,000.
Other institutional investors have also recently made changes to their positions in the company. Group One Trading L.P. bought a new position in shares of Nelnet in the first quarter worth $26,000. Allspring Global Investments Holdings LLC grew its position in Nelnet by 60.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 858 shares of the credit services provider’s stock worth $67,000 after acquiring an additional 324 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in Nelnet in the third quarter worth $72,000. Tower Research Capital LLC TRC grew its position in Nelnet by 91.6% in the third quarter. Tower Research Capital LLC TRC now owns 1,027 shares of the credit services provider’s stock worth $81,000 after acquiring an additional 491 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC purchased a new position in Nelnet in the fourth quarter worth $108,000. Institutional investors own 33.38% of the company’s stock.
Nelnet Stock Down 0.4 %
Shares of NYSE:NNI opened at $92.74 on Friday. The firm has a fifty day moving average of $92.73 and a 200 day moving average of $93.41. The company has a debt-to-equity ratio of 4.17, a quick ratio of 55.87 and a current ratio of 55.87. Nelnet, Inc. has a 52-week low of $72.94 and a 52-week high of $99.49. The firm has a market capitalization of $3.46 billion, a PE ratio of 14.05 and a beta of 0.83.
Nelnet Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st will be given a dividend of $0.26 per share. The ex-dividend date is Wednesday, May 31st. This represents a $1.04 annualized dividend and a yield of 1.12%. Nelnet’s payout ratio is 15.76%.
Wall Street Analyst Weigh In
Separately, StockNews.com assumed coverage on shares of Nelnet in a research report on Thursday, May 18th. They issued a “hold” rating for the company.
About Nelnet
Nelnet, Inc engages in the provision of education-related products and services, as well as loan asset management. It operates through the following segments: Loan Servicing and Systems (LSS), Education Technology, Services, and Payment Processing (ETS&PP), Asset Generation and Management (AGM), Nelnet Bank, and Communications.
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