Nelnet (NNI)
Services education loans and supplies school administration, payment, and consumer-lending platforms.
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Provides loan servicing and software, education administration and payment technology, and consumer lending, earning fees, net interest income, and transaction revenue. U.S. and Canadian government servicing contracts anchor volume, while a federally insured student-loan portfolio runs off and Nelnet Bank originates private education and unsecured consumer loans.
Services government-owned and private education loans through Loan Servicing and Systems, including U.S. Department of Education and Canadian government portfolios. Education Technology Services and Payments supplies FACTS school administration, tuition management, campus commerce, and payment processing in the United States and abroad.
Earns servicing and transaction fees, net interest income from the amortizing federally insured student-loan portfolio in Asset Generation and Management, and lending income through Nelnet Bank, a Utah-chartered industrial bank. Technology integrated with institution systems supports high-volume servicing and payment workflows.
Results depend on borrower allocations, pricing, and renewal terms under Department of Education contracts, while the loan book shrinks as borrowers repay. Banking, servicing, payments, and Canadian operations remain subject to federal, state, provincial, privacy, and consumer-finance rules.
Company facts
No analyst consensus on record.
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $1.56B · Total debt $7.04B · Total assets $14.28B · Shareholders' equity $3.77B
- Revenue
- $333.6M
- Operating income
- $25.5M
- Net income
- $66.7M
HistoryDividendAnnual yield
| Institutions | 33.46% | 11.97M shares | |
|---|---|---|---|
| 217 holders · as of Jun 30, 2026 | |||
| Insiders | 73.30% | 26.23M shares | |
| 21 holders · as of Sep 16, 2026 | |||
| Strategic holders | 5.72% | 2.05M shares | |
| 1 holder · as of Nov 13, 2025 | |||
| Adds to | 112.48% | ||
35.78M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
These groups come from separate filings that can overlap, so they add to 112.48%; nothing is left for Other.
This company has 2 share classes; every stake here is a share of the whole company.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Michael S. Dunlap1Insiderdirector, 10 percent owner, officer: Executive Chairman of Board | 37.46% | 13.39M COMPANY | filed Dec 3, 2025 |
Whitetail Rock Capital Management, LLCInstitution | 19.23% | 6.88M | filed May 13, 2026 |
Muhleisen, Angela L.Insider | 13.09% | 4.68M | filed Nov 13, 2025 |
Shelby J. Butterfield2Insiderother: Former 10% Owner | 9.41% | 3.77M COMPANY | filed Aug 27, 2025 |
Angie MuhleisenInsider10 percent owner | 6.64% | 2.37M A | filed Aug 20, 2025 |
- Michael S. Dunlap's transaction reports restate only vehicles that traded; the 2025 ownership statement (13.39M) plus the 14.5K net shares acquired since is used instead.
- Shelby J. Butterfield's transaction reports restate only vehicles that traded; the 2020 ownership statement (3.77M) less the 406.0K net shares sold since is used instead.
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Dec 9, 2025 | Jona M. van Deun | director | −400 | $128.95 |
- Maximus
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- SoFi
Digital bank with ~60–70% share of U.S. student loan refinancing market.
- Navient
Private education lender via Earnest brand; holds legacy FFELP runoff portfolio.
- Blackbaud
Cloud suite for private K-12 schools: SIS, tuition, enrollment, fundraising.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Nelnet | $126.13 | −0.13% | $4.54B | 15.2 | 15.2 | 2.4 | −33.6% |
| Maximus | $55.85 | −0.22% | $2.94B | 8.3 | 6.7 | 0.6 | −5.2% |
| Sallie Mae | $24.62 | −1.79% | $4.71B | 7.0 | 8.1 | 1.5 | −41.3% |
| SoFi | $17.26 | +1.71% | $21.77B | 35.4 | 23.6 | 3.9 | +41.0% |
| Navient | $9.49 | −0.84% | $899.5M | — | 11.0 | 0.3 | −5.8% |
| Blackbaud | $41.84 | −2.79% | $1.95B | 13.5 | 7.4 | 1.7 | +3.3% |
| Median | 10.9 | 8.1 | 1.5 | −5.2% |