Nelnet, Inc. (NYSE:NNI) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its position in Nelnet, Inc. (NYSE:NNI) by 22.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,748 shares of the credit services provider’s stock after selling 1,110 shares during the period. Victory Capital Management Inc.’s holdings in Nelnet were worth $425,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of NNI. Vanguard Group Inc. lifted its holdings in shares of Nelnet by 0.3% during the first quarter. Vanguard Group Inc. now owns 1,313,570 shares of the credit services provider’s stock valued at $124,329,000 after purchasing an additional 3,485 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Nelnet by 4.9% during the second quarter. American Century Companies Inc. now owns 122,055 shares of the credit services provider’s stock valued at $12,310,000 after purchasing an additional 5,752 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Nelnet by 1.1% during the second quarter. Bank of New York Mellon Corp now owns 118,046 shares of the credit services provider’s stock valued at $11,906,000 after purchasing an additional 1,280 shares during the last quarter. Lawson Kroeker Investment Management Inc. NE lifted its holdings in shares of Nelnet by 0.9% during the second quarter. Lawson Kroeker Investment Management Inc. NE now owns 102,586 shares of the credit services provider’s stock valued at $10,347,000 after purchasing an additional 910 shares during the last quarter. Finally, Denali Advisors LLC lifted its holdings in shares of Nelnet by 33.0% during the second quarter. Denali Advisors LLC now owns 64,510 shares of the credit services provider’s stock valued at $6,506,000 after purchasing an additional 16,000 shares during the last quarter. Institutional investors and hedge funds own 33.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. StockNews.com downgraded Nelnet from a “buy” rating to a “hold” rating in a report on Monday, August 12th. TD Cowen upped their target price on Nelnet from $96.00 to $98.00 and gave the company a “hold” rating in a report on Monday, August 12th.

Nelnet Stock Up 0.1 %

Shares of Nelnet stock opened at $108.92 on Friday. The stock has a 50-day moving average price of $112.04 and a 200 day moving average price of $108.91. The company has a market cap of $3.95 billion, a P/E ratio of 35.83 and a beta of 0.92. The company has a current ratio of 31.47, a quick ratio of 31.47 and a debt-to-equity ratio of 2.78. Nelnet, Inc. has a 1 year low of $82.22 and a 1 year high of $127.32.

Nelnet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.03%. The ex-dividend date is Monday, December 2nd. Nelnet’s dividend payout ratio is currently 36.84%.

Insider Buying and Selling

In related news, insider William J. Munn sold 2,500 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $108.89, for a total value of $272,225.00. Following the completion of the sale, the insider now directly owns 9,354 shares of the company’s stock, valued at approximately $1,018,557.06. This represents a 21.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 50.10% of the company’s stock.

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.