Pittenger & Anderson Inc. Acquires 1,775 Shares of Nelnet, Inc. (NNI)

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Pittenger & Anderson Inc. increased its holdings in shares of Nelnet, Inc. (NYSE:NNI) by 67.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,425 shares of the credit services provider’s stock after purchasing an additional 1,775 shares during the period. Pittenger & Anderson Inc.’s holdings in Nelnet were worth $253,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. GSA Capital Partners LLP boosted its stake in Nelnet by 11.5% during the 2nd quarter. GSA Capital Partners LLP now owns 10,685 shares of the credit services provider’s stock worth $624,000 after purchasing an additional 1,100 shares during the period. United Services Automobile Association boosted its stake in Nelnet by 5.4% during the 2nd quarter. United Services Automobile Association now owns 23,427 shares of the credit services provider’s stock worth $1,368,000 after purchasing an additional 1,207 shares during the period. Wells Fargo & Company MN boosted its stake in Nelnet by 4.0% during the 1st quarter. Wells Fargo & Company MN now owns 40,405 shares of the credit services provider’s stock worth $2,118,000 after purchasing an additional 1,563 shares during the period. SG Americas Securities LLC acquired a new stake in Nelnet during the 1st quarter worth $100,000. Finally, Quantbot Technologies LP acquired a new stake in Nelnet during the 1st quarter worth $104,000. Hedge funds and other institutional investors own 37.46% of the company’s stock.

In other news, major shareholder Angie Muhleisen sold 1,000 shares of the firm’s stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $58.22, for a total value of $58,220.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 47.00% of the stock is currently owned by company insiders.

Separately, ValuEngine cut shares of Nelnet from a “buy” rating to a “hold” rating in a research note on Thursday, July 26th.

Shares of NYSE:NNI opened at $54.23 on Friday. The firm has a market cap of $2.33 billion, a P/E ratio of 11.25 and a beta of 0.81. The company has a quick ratio of 112.77, a current ratio of 112.77 and a debt-to-equity ratio of 9.83. Nelnet, Inc. has a 1-year low of $48.30 and a 1-year high of $64.00.

Nelnet (NYSE:NNI) last issued its quarterly earnings results on Tuesday, August 7th. The credit services provider reported $1.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.02. Nelnet had a net margin of 17.02% and a return on equity of 9.45%. The firm had revenue of $257.96 million during the quarter.

The company also recently announced a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Friday, August 31st were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.18%. The ex-dividend date was Thursday, August 30th.

Nelnet Company Profile

Nelnet, Inc provides education related products and services, and loan asset management services worldwide. The company's Loan Systems and Servicing segment is involved in loan servicing activities, such as loan conversion, application processing, borrower updates, customer service, payment processing, due diligence procedures, funds management reconciliation, and claim processing activities for student loan portfolio and third-party clients.

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Institutional Ownership by Quarter for Nelnet (NYSE:NNI)

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