Nelnet (NNI) Announces Quarterly Earnings Results

Nelnet (NYSE:NNI) posted its earnings results on Thursday. The credit services provider reported $1.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.26 by ($0.12), reports. Nelnet had a net margin of 17.02% and a return on equity of 9.45%. The business had revenue of $276.35 million for the quarter. During the same quarter in the previous year, the business earned $1.00 earnings per share.

Shares of NNI traded down $4.49 during mid-day trading on Friday, hitting $51.40. 198,400 shares of the company’s stock traded hands, compared to its average volume of 64,769. The company has a debt-to-equity ratio of 9.83, a quick ratio of 112.77 and a current ratio of 112.77. Nelnet has a 1 year low of $48.30 and a 1 year high of $64.00. The stock has a market capitalization of $2.30 billion, a PE ratio of 11.11 and a beta of 0.70.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, November 29th. This is a boost from Nelnet’s previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a dividend yield of 1.40%.

In other news, major shareholder Angie Muhleisen sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 19th. The stock was sold at an average price of $58.22, for a total transaction of $58,220.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have sold 3,000 shares of company stock worth $171,060 over the last three months. Insiders own 46.10% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Nelnet by 3.7% during the third quarter. BlackRock Inc. now owns 1,325,524 shares of the credit services provider’s stock valued at $75,781,000 after buying an additional 47,337 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Nelnet by 2.5% during the third quarter. Bank of New York Mellon Corp now owns 164,607 shares of the credit services provider’s stock valued at $9,411,000 after buying an additional 4,027 shares during the period. Commonwealth Bank of Australia purchased a new position in shares of Nelnet during the third quarter valued at approximately $148,000. JPMorgan Chase & Co. increased its stake in shares of Nelnet by 1.6% during the third quarter. JPMorgan Chase & Co. now owns 215,368 shares of the credit services provider’s stock valued at $12,312,000 after buying an additional 3,364 shares during the period. Finally, O Shaughnessy Asset Management LLC increased its stake in shares of Nelnet by 20.6% during the third quarter. O Shaughnessy Asset Management LLC now owns 10,295 shares of the credit services provider’s stock valued at $589,000 after buying an additional 1,762 shares during the period. 37.43% of the stock is currently owned by hedge funds and other institutional investors.

Separately, ValuEngine cut Nelnet from a “buy” rating to a “hold” rating in a research note on Thursday, July 26th.

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Nelnet Company Profile

Nelnet, Inc provides education related products and services, and loan asset management services worldwide. The company's Loan Systems and Servicing segment is involved in loan servicing activities, such as loan conversion, application processing, borrower updates, customer service, payment processing, due diligence procedures, funds management reconciliation, and claim processing activities for student loan portfolio and third-party clients.

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Earnings History for Nelnet (NYSE:NNI)

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