Farmers & Merchants Investments Inc. Sells 54,563 Shares of Nelnet, Inc. (NYSE:NNI)

Farmers & Merchants Investments Inc. lowered its stake in shares of Nelnet, Inc. (NYSE:NNI) by 3.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,528,203 shares of the credit services provider’s stock after selling 54,563 shares during the quarter. Nelnet makes up about 6.1% of Farmers & Merchants Investments Inc.’s holdings, making the stock its biggest position. Farmers & Merchants Investments Inc. owned 3.85% of Nelnet worth $97,194,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the business. United Services Automobile Association increased its holdings in shares of Nelnet by 1.3% in the 2nd quarter. United Services Automobile Association now owns 22,052 shares of the credit services provider’s stock valued at $1,306,000 after acquiring an additional 283 shares during the period. Bank of America Corp DE increased its holdings in shares of Nelnet by 2.7% in the 2nd quarter. Bank of America Corp DE now owns 20,539 shares of the credit services provider’s stock valued at $1,216,000 after acquiring an additional 549 shares during the period. Commonwealth Bank of Australia increased its holdings in shares of Nelnet by 34.6% in the 2nd quarter. Commonwealth Bank of Australia now owns 3,500 shares of the credit services provider’s stock valued at $207,000 after acquiring an additional 900 shares during the period. Northern Trust Corp increased its holdings in shares of Nelnet by 0.3% in the 2nd quarter. Northern Trust Corp now owns 392,640 shares of the credit services provider’s stock valued at $23,253,000 after acquiring an additional 1,256 shares during the period. Finally, Royal Bank of Canada increased its holdings in shares of Nelnet by 191.5% in the 2nd quarter. Royal Bank of Canada now owns 2,131 shares of the credit services provider’s stock valued at $126,000 after acquiring an additional 1,400 shares during the period. 34.98% of the stock is currently owned by institutional investors.

Shares of Nelnet stock opened at $60.34 on Friday. The firm’s fifty day simple moving average is $64.73 and its 200-day simple moving average is $61.45. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of 11.07 and a beta of 0.39. Nelnet, Inc. has a 12 month low of $47.59 and a 12 month high of $69.97. The company has a debt-to-equity ratio of 9.15, a current ratio of 70.11 and a quick ratio of 70.11.

Nelnet (NYSE:NNI) last announced its earnings results on Thursday, August 8th. The credit services provider reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.08. The business had revenue of $241.97 million for the quarter, compared to analysts’ expectations of $281.00 million. Nelnet had a net margin of 7.45% and a return on equity of 9.61%. During the same period in the previous year, the company posted $1.30 EPS.

Separately, ValuEngine cut shares of Nelnet from a “hold” rating to a “sell” rating in a report on Friday, September 20th.

About Nelnet

Nelnet, Inc provides education related products and services, and loan asset management services worldwide. The company's Loan Servicing and Systems 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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Institutional Ownership by Quarter for Nelnet (NYSE:NNI)

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