Venator Management LLC Purchases Shares of 2,000 Nelnet, Inc. (NYSE:NNI)

Venator Management LLC purchased a new position in shares of Nelnet, Inc. (NYSE:NNI) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 2,000 shares of the credit services provider’s stock, valued at approximately $214,000. Nelnet accounts for about 0.1% of Venator Management LLC’s portfolio, making the stock its 24th biggest holding.

Several other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in shares of Nelnet by 30.7% in the 4th quarter. JPMorgan Chase & Co. now owns 172,480 shares of the credit services provider’s stock valued at $18,423,000 after purchasing an additional 40,476 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in Nelnet during the fourth quarter valued at about $223,000. Vanguard Group Inc. grew its stake in shares of Nelnet by 8.0% during the fourth quarter. Vanguard Group Inc. now owns 1,347,756 shares of the credit services provider’s stock valued at $143,954,000 after buying an additional 99,885 shares during the last quarter. LPL Financial LLC increased its holdings in shares of Nelnet by 8.6% in the fourth quarter. LPL Financial LLC now owns 26,844 shares of the credit services provider’s stock worth $2,867,000 after buying an additional 2,117 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Nelnet in the fourth quarter worth about $1,004,000. 33.51% of the stock is currently owned by institutional investors.

Nelnet Price Performance

Shares of Nelnet stock opened at $111.70 on Monday. The company’s fifty day simple moving average is $113.23 and its two-hundred day simple moving average is $111.24. Nelnet, Inc. has a 12-month low of $92.24 and a 12-month high of $127.32. The firm has a market cap of $4.05 billion, a PE ratio of 36.74 and a beta of 0.89. The company has a quick ratio of 31.47, a current ratio of 31.47 and a debt-to-equity ratio of 2.78.

Nelnet (NYSE:NNI) last announced its quarterly earnings results on Thursday, February 27th. The credit services provider reported $1.44 earnings per share (EPS) for the quarter, beating 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 company had revenue of $401.61 million for the quarter, compared to the consensus estimate of $335.00 million. As a group, equities analysts expect that Nelnet, Inc. will post 4.52 EPS for the current year.

Nelnet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.00%. The ex-dividend date was Friday, February 28th. Nelnet’s dividend payout ratio (DPR) is currently 22.40%.

Analyst Ratings Changes

Separately, StockNews.com upgraded Nelnet from a “hold” rating to a “buy” rating in a research report 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.