Pilgrim Partners Asia Pte Ltd Makes New Investment in Nelnet, Inc. (NYSE:NNI)

Pilgrim Partners Asia Pte Ltd acquired a new stake in Nelnet, Inc. (NYSE:NNI) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,000 shares of the credit services provider’s stock, valued at approximately $961,000. Nelnet accounts for about 0.8% of Pilgrim Partners Asia Pte Ltd’s investment portfolio, making the stock its 25th biggest position.

A number of other hedge funds also recently modified their holdings of the stock. HighTower Advisors LLC boosted its position in shares of Nelnet by 25.1% during the 4th quarter. HighTower Advisors LLC now owns 76,896 shares of the credit services provider’s stock worth $8,213,000 after acquiring an additional 15,445 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Nelnet by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 201,969 shares of the credit services provider’s stock valued at $21,572,000 after acquiring an additional 2,778 shares during the last quarter. Proficio Capital Partners LLC raised its stake in Nelnet by 16,773.6% during the fourth quarter. Proficio Capital Partners LLC now owns 482,247 shares of the credit services provider’s stock worth $482,000 after acquiring an additional 479,389 shares in the last quarter. Edgestream Partners L.P. lifted its holdings in shares of Nelnet by 230.1% in the fourth quarter. Edgestream Partners L.P. now owns 24,797 shares of the credit services provider’s stock worth $2,649,000 after acquiring an additional 17,285 shares during the last quarter. Finally, MML Investors Services LLC boosted its stake in shares of Nelnet by 7.4% in the 3rd quarter. MML Investors Services LLC now owns 2,279 shares of the credit services provider’s stock valued at $258,000 after purchasing an additional 157 shares in the last quarter. Institutional investors and hedge funds own 33.51% of the company’s stock.

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 Price Performance

Nelnet stock opened at $102.89 on Friday. The stock has a 50-day moving average price of $113.08 and a two-hundred day moving average price of $111.12. Nelnet, Inc. has a 12 month low of $92.24 and a 12 month high of $127.32. The company has a market capitalization of $3.73 billion, a PE ratio of 33.85 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.

Nelnet (NYSE:NNI) last posted its earnings results on Thursday, February 27th. The credit services provider reported $1.44 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $335.00 million. Analysts expect that Nelnet, Inc. will post 4.52 EPS for the current year.

Nelnet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend was Friday, February 28th. Nelnet’s dividend payout ratio is currently 22.40%.

Nelnet 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.