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

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

Several other institutional investors and hedge funds also recently made changes to their positions in NNI. Christopher J. Hasenberg Inc bought a new position in shares of Nelnet in the 4th quarter worth $38,000. Blue Trust Inc. lifted its stake in shares of Nelnet by 1,293.1% in the fourth quarter. Blue Trust Inc. now owns 404 shares of the credit services provider’s stock valued at $46,000 after buying an additional 375 shares in the last quarter. FMR LLC grew its holdings in shares of Nelnet by 20.3% during the third quarter. FMR LLC now owns 556 shares of the credit services provider’s stock valued at $63,000 after buying an additional 94 shares during the last quarter. Venator Management LLC bought a new stake in shares of Nelnet during the fourth quarter worth about $214,000. Finally, EntryPoint Capital LLC bought a new position in Nelnet in the 4th quarter valued at about $223,000. Institutional investors own 33.51% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Nelnet Price Performance

NNI opened at $102.89 on Friday. Nelnet, Inc. has a 1 year low of $92.24 and a 1 year high of $127.32. The company has a debt-to-equity ratio of 2.78, a current ratio of 31.47 and a quick ratio of 31.47. The company has a market capitalization of $3.73 billion, a price-to-earnings ratio of 33.85 and a beta of 0.89. The firm’s fifty day moving average price is $113.08 and its two-hundred day moving average price is $111.12.

Nelnet (NYSE:NNI) last issued its quarterly earnings data on Thursday, February 27th. The credit services provider reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $335.00 million. As a group, analysts anticipate that Nelnet, Inc. will post 4.52 earnings per share for the current fiscal year.

Nelnet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.28 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.12 annualized dividend and a yield of 1.09%. 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.