Proficio Capital Partners LLC Acquires 1,657 Shares of Nelnet, Inc. (NYSE:NNI)

Proficio Capital Partners LLC boosted its holdings in Nelnet, Inc. (NYSE:NNI) by 58.0% in the fourth quarter, Holdings Channel reports. The firm owned 4,515 shares of the credit services provider’s stock after purchasing an additional 1,657 shares during the quarter. Proficio Capital Partners LLC’s holdings in Nelnet were worth $482,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Christopher J. Hasenberg Inc acquired a new position in shares of Nelnet during the 4th quarter worth about $38,000. Blue Trust Inc. boosted its position in Nelnet by 1,293.1% during the fourth quarter. Blue Trust Inc. now owns 404 shares of the credit services provider’s stock valued at $46,000 after purchasing an additional 375 shares during the last quarter. FMR LLC grew its stake in Nelnet by 20.3% in the third quarter. FMR LLC now owns 556 shares of the credit services provider’s stock valued at $63,000 after purchasing an additional 94 shares in the last quarter. Quest Partners LLC increased its position in shares of Nelnet by 34,283.3% during the 3rd quarter. Quest Partners LLC now owns 2,063 shares of the credit services provider’s stock worth $234,000 after purchasing an additional 2,057 shares during the last quarter. Finally, MML Investors Services LLC raised its stake in shares of Nelnet by 7.4% during the 3rd quarter. MML Investors Services LLC now owns 2,279 shares of the credit services provider’s stock worth $258,000 after purchasing an additional 157 shares in the last quarter. 33.51% of the stock is currently owned by institutional investors and hedge funds.

Nelnet Stock Up 2.0 %

Shares of NNI stock opened at $114.01 on Tuesday. Nelnet, Inc. has a 52-week low of $91.06 and a 52-week high of $127.32. The stock has a market cap of $4.14 billion, a price-to-earnings ratio of 37.50 and a beta of 0.89. The firm’s 50-day moving average is $112.83 and its 200-day moving average is $111.18. The company has a debt-to-equity ratio of 2.78, a quick ratio of 31.47 and a current ratio of 31.47.

Nelnet (NYSE:NNI) last announced its quarterly earnings results on Thursday, February 27th. The credit services provider reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.21. Nelnet had a return on equity of 3.78% and a net margin of 5.54%. The firm had revenue of $401.61 million for the quarter, compared to the consensus estimate of $335.00 million. Sell-side analysts predict that Nelnet, Inc. will post 4.52 EPS for the current year.

Nelnet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend was Friday, February 28th. Nelnet’s dividend payout ratio (DPR) is presently 22.40%.

Analyst Upgrades and Downgrades

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

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.