Bar Harbor Wealth Management Has $12.13 Million Holdings in Nelnet, Inc. (NYSE:NNI)

Bar Harbor Wealth Management trimmed its stake in Nelnet, Inc. (NYSE:NNIFree Report) by 0.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 107,089 shares of the credit services provider’s stock after selling 126 shares during the quarter. Bar Harbor Wealth Management’s holdings in Nelnet were worth $12,131,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Nelnet by 0.3% in the first quarter. Vanguard Group Inc. now owns 1,313,570 shares of the credit services provider’s stock worth $124,329,000 after acquiring an additional 3,485 shares during the last quarter. Farmers & Merchants Investments Inc. lifted its holdings in shares of Nelnet by 1.4% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 1,206,546 shares of the credit services provider’s stock valued at $114,200,000 after buying an additional 16,820 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Nelnet by 4.9% in the 2nd quarter. American Century Companies Inc. now owns 122,055 shares of the credit services provider’s stock valued at $12,310,000 after buying an additional 5,752 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Nelnet by 1.1% in the second quarter. Bank of New York Mellon Corp now owns 118,046 shares of the credit services provider’s stock worth $11,906,000 after buying an additional 1,280 shares during the last quarter. Finally, Lawson Kroeker Investment Management Inc. NE raised its position in 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 acquiring an additional 910 shares in the last quarter. 33.51% of the stock is owned by hedge funds and other institutional investors.

Nelnet Trading Up 0.1 %

Shares of NYSE:NNI opened at $115.33 on Friday. Nelnet, Inc. has a 52-week low of $81.67 and a 52-week high of $116.13. The company has a debt-to-equity ratio of 2.97, a quick ratio of 33.51 and a current ratio of 33.51. The company has a market cap of $4.19 billion, a P/E ratio of 31.17 and a beta of 0.92. The stock’s 50-day moving average is $111.87 and its 200-day moving average is $105.41.

Nelnet (NYSE:NNIGet Free Report) last released its earnings results on Thursday, August 8th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.13). The business had revenue of $324.90 million during the quarter. Nelnet had a net margin of 7.44% and a return on equity of 4.71%. Equities research analysts predict that Nelnet, Inc. will post 5.82 earnings per share for the current year.

Nelnet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend was Friday, August 30th. Nelnet’s payout ratio is 30.27%.

Wall Street Analysts Forecast Growth

Several analysts have commented on NNI shares. StockNews.com downgraded shares of Nelnet from a “buy” rating to a “hold” rating in a research report on Monday, August 12th. TD Cowen raised 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.

View Our Latest Research Report on NNI

Nelnet Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Nelnet (NYSE:NNI)

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