JPMorgan Chase & Co. decreased its stake in Nelnet, Inc. (NYSE:NNI) by 5.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 243,900 shares of the credit services provider’s stock after selling 13,125 shares during the period. JPMorgan Chase & Co. owned approximately 0.59% of Nelnet worth $12,356,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in NNI. Dimensional Fund Advisors LP boosted its stake in Nelnet by 3.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,301,119 shares of the credit services provider’s stock worth $108,174,000 after buying an additional 66,040 shares in the last quarter. Vanguard Group Inc. boosted its stake in Nelnet by 3.5% during the second quarter. Vanguard Group Inc. now owns 2,087,767 shares of the credit services provider’s stock worth $98,146,000 after buying an additional 69,695 shares in the last quarter. Boston Partners boosted its stake in Nelnet by 2.2% during the third quarter. Boston Partners now owns 1,069,640 shares of the credit services provider’s stock worth $54,017,000 after buying an additional 23,092 shares in the last quarter. Northern Trust Corp boosted its stake in Nelnet by 1.0% during the second quarter. Northern Trust Corp now owns 1,055,113 shares of the credit services provider’s stock worth $49,601,000 after buying an additional 10,349 shares in the last quarter. Finally, State Street Corp boosted its stake in Nelnet by 5.2% during the second quarter. State Street Corp now owns 409,931 shares of the credit services provider’s stock worth $19,275,000 after buying an additional 20,103 shares in the last quarter. Institutional investors and hedge funds own 39.63% of the company’s stock.

NNI has been the topic of a number of recent research reports. Credit Suisse Group lifted their price target on shares of Nelnet from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Friday, October 20th. Compass Point upgraded shares of Nelnet from a “neutral” rating to a “buy” rating in a research note on Thursday, October 19th.

In other Nelnet news, Director Michael D. Reardon sold 5,748 shares of Nelnet stock in a transaction on Monday, November 13th. The stock was sold at an average price of $50.84, for a total transaction of $292,228.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider William J. Munn sold 1,000 shares of Nelnet stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $50.00, for a total value of $50,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,748 shares of company stock valued at $617,808. Company insiders own 46.10% of the company’s stock.

Shares of Nelnet, Inc. (NYSE:NNI) opened at $53.93 on Friday. Nelnet, Inc. has a 52 week low of $38.72 and a 52 week high of $59.68. The company has a debt-to-equity ratio of 10.44, a quick ratio of 159.08 and a current ratio of 159.08. The firm has a market cap of $2,190.57, a price-to-earnings ratio of 12.30 and a beta of 1.04.

Nelnet (NYSE:NNI) last posted its quarterly earnings results on Tuesday, November 7th. The credit services provider reported $1.00 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.10 by ($0.10). Nelnet had a return on equity of 8.70% and a net margin of 17.51%. The business had revenue of $194.43 million for the quarter, compared to analyst estimates of $191.00 million. During the same quarter in the prior year, the firm earned $1.36 EPS. The firm’s quarterly revenue was down 18.6% on a year-over-year basis.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were issued a dividend of $0.16 per share. The ex-dividend date was Thursday, November 30th. This is a boost from Nelnet’s previous quarterly dividend of $0.14. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.19%. Nelnet’s dividend payout ratio (DPR) is presently 12.10%.

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Nelnet Company Profile

Nelnet, Inc focuses on delivering education-related products and services and student loan asset management. The Company is engaged in student loan servicing, tuition payment processing and school information systems, and communications. The Company’s segments include Loan Systems and Servicing, Tuition Payment Processing and Campus Commerce, Communications, Asset Generation and Management, and Corporate and Other Activities.

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Institutional Ownership by Quarter for Nelnet (NYSE:NNI)

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