Brandywine Global Investment Management LLC Sells 2,008 Shares of Nelnet, Inc. (NYSE:NNI)

Brandywine Global Investment Management LLC reduced its stake in Nelnet, Inc. (NYSE:NNI) by 4.3% during the 4th quarter, HoldingsChannel reports. The fund owned 44,471 shares of the credit services provider’s stock after selling 2,008 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Nelnet were worth $4,750,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC raised its stake in shares of Nelnet by 16,773.6% in the 4th quarter. Proficio Capital Partners LLC now owns 482,247 shares of the credit services provider’s stock valued at $482,000 after purchasing an additional 479,389 shares during the period. Vanguard Group Inc. raised its position in Nelnet by 8.0% in the 4th 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. JPMorgan Chase & Co. raised its position in 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 buying an additional 40,476 shares during the last quarter. Edgestream Partners L.P. lifted its stake in Nelnet by 230.1% in the 4th quarter. Edgestream Partners L.P. now owns 24,797 shares of the credit services provider’s stock valued at $2,649,000 after acquiring an additional 17,285 shares in the last quarter. Finally, Barclays PLC boosted its position in Nelnet by 127.4% during the 3rd quarter. Barclays PLC now owns 28,996 shares of the credit services provider’s stock worth $3,285,000 after acquiring an additional 16,245 shares during the last quarter. 33.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Nelnet Trading Up 0.1 %

Shares of NYSE:NNI opened at $111.03 on Wednesday. The company’s 50-day moving average price is $113.29 and its two-hundred day moving average price is $111.23. Nelnet, Inc. has a one year low of $92.24 and a one 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 stock has a market capitalization of $4.03 billion, a PE ratio of 36.52 and a beta of 0.89.

Nelnet (NYSE:NNI) last issued its quarterly earnings results on Thursday, February 27th. The credit services provider reported $1.44 EPS for the quarter, beating the consensus estimate of $1.23 by $0.21. The firm had revenue of $401.61 million during the quarter, compared to analysts’ expectations of $335.00 million. Nelnet had a return on equity of 3.78% and a net margin of 5.54%. On average, equities analysts forecast that Nelnet, Inc. will post 4.52 EPS for the current fiscal year.

Nelnet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.01%. The ex-dividend date was Friday, February 28th. Nelnet’s payout ratio is presently 22.40%.

About Nelnet

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.