RK Asset Management LLC lowered its holdings in Nelnet, Inc. (NYSE:NNI) by 0.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,914 shares of the credit services provider’s stock after selling 439 shares during the quarter. Nelnet accounts for about 2.6% of RK Asset Management LLC’s investment portfolio, making the stock its 15th biggest holding. RK Asset Management LLC owned 0.12% of Nelnet worth $2,694,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the company. Vanguard Group Inc grew its holdings in shares of Nelnet by 2.1% in the third quarter. Vanguard Group Inc now owns 1,644,176 shares of the credit services provider’s stock worth $93,998,000 after acquiring an additional 33,762 shares during the period. Wells Fargo & Company MN grew its holdings in shares of Nelnet by 3.2% in the third quarter. Wells Fargo & Company MN now owns 36,231 shares of the credit services provider’s stock worth $2,071,000 after acquiring an additional 1,115 shares during the period. MetLife Investment Advisors LLC grew its holdings in shares of Nelnet by 56.0% in the third quarter. MetLife Investment Advisors LLC now owns 14,236 shares of the credit services provider’s stock worth $814,000 after acquiring an additional 5,111 shares during the period. Teachers Advisors LLC grew its holdings in shares of Nelnet by 2.9% in the third quarter. Teachers Advisors LLC now owns 36,930 shares of the credit services provider’s stock worth $2,111,000 after acquiring an additional 1,054 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of Nelnet by 1.6% in the third quarter. JPMorgan Chase & Co. now owns 215,368 shares of the credit services provider’s stock worth $12,312,000 after acquiring an additional 3,364 shares during the period. Hedge funds and other institutional investors own 37.59% of the company’s stock.
In other Nelnet news, major shareholder Angie Muhleisen sold 1,000 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $55.57, for a total transaction of $55,570.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 3,000 shares of company stock valued at $167,400 in the last three months. 44.97% of the stock is currently owned by corporate insiders.
Nelnet (NYSE:NNI) last released its quarterly earnings results on Wednesday, February 27th. The credit services provider reported $1.44 earnings per share (EPS) for the quarter. Nelnet had a return on equity of 9.90% and a net margin of 12.97%. The business had revenue of $230.37 million during the quarter. During the same period in the prior year, the firm posted $1.11 EPS.
Separately, ValuEngine raised Nelnet from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd.
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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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