Guardian Wealth Management Inc. Has $4.68 Million Stock Position in Nelnet, Inc. (NYSE:NNI)

Guardian Wealth Management Inc. increased its position in shares of Nelnet, Inc. (NYSE:NNI) by 1.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,427 shares of the credit services provider’s stock after buying an additional 568 shares during the period. Nelnet accounts for 3.6% of Guardian Wealth Management Inc.’s holdings, making the stock its 7th biggest holding. Guardian Wealth Management Inc.’s holdings in Nelnet were worth $4,683,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. raised its stake in Nelnet by 3.4% during the fourth quarter. Principal Financial Group Inc. now owns 4,233 shares of the credit services provider’s stock worth $373,000 after buying an additional 141 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in Nelnet by 3.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 6,760 shares of the credit services provider’s stock valued at $640,000 after purchasing an additional 222 shares in the last quarter. Anchor Capital Advisors LLC increased its stake in Nelnet by 3.1% in the first quarter. Anchor Capital Advisors LLC now owns 12,931 shares of the credit services provider’s stock valued at $1,224,000 after purchasing an additional 383 shares in the last quarter. Covestor Ltd increased its stake in Nelnet by 139.2% in the first quarter. Covestor Ltd now owns 806 shares of the credit services provider’s stock valued at $76,000 after purchasing an additional 469 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Nelnet by 6.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,699 shares of the credit services provider’s stock valued at $729,000 after purchasing an additional 497 shares in the last quarter. Institutional investors own 33.51% of the company’s stock.

Nelnet Stock Up 1.7 %

Nelnet stock opened at $112.98 on Friday. Nelnet, Inc. has a fifty-two week low of $81.67 and a fifty-two week high of $115.61. The stock has a market cap of $4.10 billion, a PE ratio of 30.54 and a beta of 0.92. The firm’s 50-day simple moving average is $109.86 and its 200 day simple moving average is $101.48. The company has a debt-to-equity ratio of 2.97, a quick ratio of 33.51 and a current ratio of 33.51.

Nelnet (NYSE:NNI) last released its quarterly earnings results on Thursday, August 8th. The credit services provider reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.13). Nelnet had a return on equity of 4.71% and a net margin of 7.44%. The firm had revenue of $324.90 million for the quarter. Research analysts predict that Nelnet, Inc. will post 5.9 EPS for the current fiscal year.

Nelnet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend was Friday, August 30th. Nelnet’s dividend payout ratio (DPR) is presently 30.27%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. StockNews.com downgraded shares of Nelnet from a “buy” rating to a “hold” rating in a research note on Monday, August 12th. TD Cowen lifted their price target on shares of Nelnet from $96.00 to $98.00 and gave the company a “hold” rating in a research note on Monday, August 12th.

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.