Teacher Retirement System of Texas Grows Stake in Nelnet, Inc. (NYSE:NNI)

Teacher Retirement System of Texas boosted its position in shares of Nelnet, Inc. (NYSE:NNI) by 46.3% during the fourth quarter, Holdings Channel reports. The firm owned 8,984 shares of the credit services provider’s stock after buying an additional 2,842 shares during the quarter. Teacher Retirement System of Texas’ holdings in Nelnet were worth $960,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Proficio Capital Partners LLC raised its stake in shares of Nelnet by 16,773.6% during the 4th quarter. Proficio Capital Partners LLC now owns 482,247 shares of the credit services provider’s stock worth $482,000 after buying an additional 479,389 shares during the last quarter. Edgestream Partners L.P. increased its holdings in Nelnet by 230.1% during the 4th quarter. Edgestream Partners L.P. now owns 24,797 shares of the credit services provider’s stock valued at $2,649,000 after acquiring an additional 17,285 shares in the last quarter. Barclays PLC raised its position in Nelnet by 127.4% during the third quarter. Barclays PLC now owns 28,996 shares of the credit services provider’s stock worth $3,285,000 after acquiring an additional 16,245 shares during the last quarter. HighTower Advisors LLC lifted its holdings in shares of Nelnet by 25.1% in the fourth quarter. HighTower Advisors LLC now owns 76,896 shares of the credit services provider’s stock valued at $8,213,000 after purchasing an additional 15,445 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. grew its position in shares of Nelnet by 0.5% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 1,187,527 shares of the credit services provider’s stock valued at $126,840,000 after purchasing an additional 5,708 shares during the last quarter. Institutional investors and hedge funds own 33.51% of the company’s stock.

Analysts Set New Price Targets

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

Nelnet Trading Down 2.0 %

Nelnet stock opened at $111.70 on Friday. The stock has a market cap of $4.05 billion, a PE ratio of 36.74 and a beta of 0.89. The company has a current ratio of 31.47, a quick ratio of 31.47 and a debt-to-equity ratio of 2.78. The stock has a 50-day moving average price of $113.23 and a 200 day moving average price of $111.24. Nelnet, Inc. has a 52 week low of $92.24 and a 52 week high of $127.32.

Nelnet (NYSE:NNI) last posted its quarterly earnings data on Thursday, February 27th. The credit services provider reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.21. Nelnet had a net margin of 5.54% and a return on equity of 3.78%. The business had revenue of $401.61 million during the quarter, compared to analyst estimates of $335.00 million. Equities research analysts predict that Nelnet, Inc. will post 4.52 earnings per share for the current fiscal year.

Nelnet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend was Friday, February 28th. Nelnet’s dividend payout ratio is presently 22.40%.

About Nelnet

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.