Bank of Montreal Can Cuts Position in Nelnet, Inc. (NNI)

Bank of Montreal Can trimmed its position in Nelnet, Inc. (NYSE:NNI) by 3.9% in the 1st quarter, HoldingsChannel reports. The fund owned 44,937 shares of the credit services provider’s stock after selling 1,812 shares during the quarter. Bank of Montreal Can’s holdings in Nelnet were worth $2,475,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in NNI. BNP Paribas Arbitrage SA increased its stake in shares of Nelnet by 143.1% during the first quarter. BNP Paribas Arbitrage SA now owns 4,177 shares of the credit services provider’s stock worth $230,000 after purchasing an additional 2,459 shares in the last quarter. Foundry Partners LLC increased its stake in shares of Nelnet by 9.0% during the first quarter. Foundry Partners LLC now owns 122,888 shares of the credit services provider’s stock worth $6,767,000 after purchasing an additional 10,118 shares in the last quarter. Denali Advisors LLC increased its stake in shares of Nelnet by 5,875.0% during the first quarter. Denali Advisors LLC now owns 4,780 shares of the credit services provider’s stock worth $263,000 after purchasing an additional 4,700 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Nelnet by 6.3% during the fourth quarter. Geode Capital Management LLC now owns 306,607 shares of the credit services provider’s stock worth $16,047,000 after purchasing an additional 18,172 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Nelnet during the fourth quarter worth about $28,833,000. Institutional investors own 36.55% of the company’s stock.

In related news, major shareholder Angie Muhleisen sold 1,000 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $55.57, for a total transaction of $55,570.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders have sold 4,000 shares of company stock valued at $228,460. 44.97% of the stock is owned by corporate insiders.

NNI stock opened at $60.26 on Friday. The stock has a market cap of $2.44 billion, a PE ratio of 11.08 and a beta of 0.53. The company has a debt-to-equity ratio of 9.37, a current ratio of 86.21 and a quick ratio of 86.21. Nelnet, Inc. has a 52 week low of $47.59 and a 52 week high of $64.00.

Nelnet (NYSE:NNI) last announced its quarterly earnings data on Wednesday, May 8th. The credit services provider reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.40. Nelnet had a net margin of 8.86% and a return on equity of 9.66%. The company had revenue of $264.94 million during the quarter.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be paid a dividend of $0.18 per share. The ex-dividend date is Thursday, May 30th. This represents a $0.72 annualized dividend and a yield of 1.19%.

COPYRIGHT VIOLATION NOTICE: “Bank of Montreal Can Cuts Position in Nelnet, Inc. (NNI)” was first reported by Baseball Daily News and is the sole property of of Baseball Daily News. If you are viewing this report on another site, it was illegally copied and reposted in violation of United States and international copyright and trademark law. The legal version of this report can be read at https://www.baseballdailydigest.com/news/2019/05/18/bank-of-montreal-can-cuts-position-in-nelnet-inc-nni.html.

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.

Read More: What Are Treasury Bonds?

Want to see what other hedge funds are holding NNI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nelnet, Inc. (NYSE:NNI).

Institutional Ownership by Quarter for Nelnet (NYSE:NNI)

Receive News & Ratings for Nelnet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nelnet and related companies with MarketBeat.com's FREE daily email newsletter.