BNP Paribas Financial Markets Reduces Position in Nelnet, Inc. (NYSE:NNI)

BNP Paribas Financial Markets trimmed its holdings in Nelnet, Inc. (NYSE:NNI) by 5.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,099 shares of the credit services provider’s stock after selling 180 shares during the quarter. BNP Paribas Financial Markets’ holdings in Nelnet were worth $351,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in Nelnet by 1.1% during the second quarter. Bank of New York Mellon Corp now owns 118,046 shares of the credit services provider’s stock worth $11,906,000 after buying an additional 1,280 shares during the last quarter. Legato Capital Management LLC boosted its position in shares of Nelnet by 30.8% during the 2nd quarter. Legato Capital Management LLC now owns 18,018 shares of the credit services provider’s stock valued at $1,817,000 after acquiring an additional 4,241 shares during the last quarter. Lawson Kroeker Investment Management Inc. NE boosted its position in shares of Nelnet by 0.9% during the 2nd quarter. Lawson Kroeker Investment Management Inc. NE now owns 102,586 shares of the credit services provider’s stock valued at $10,347,000 after acquiring an additional 910 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Nelnet by 5.2% in the second quarter. Rhumbline Advisers now owns 31,608 shares of the credit services provider’s stock valued at $3,188,000 after purchasing an additional 1,570 shares during the period. Finally, Anchor Capital Advisors LLC increased its position in Nelnet by 3.1% during the second quarter. Anchor Capital Advisors LLC now owns 13,326 shares of the credit services provider’s stock worth $1,344,000 after purchasing an additional 395 shares during the last quarter. 33.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Nelnet

In other Nelnet news, insider William J. Munn sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $108.89, for a total value of $272,225.00. Following the sale, the insider now owns 9,354 shares of the company’s stock, valued at $1,018,557.06. The trade was a 21.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 50.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Nelnet from a “hold” rating to a “buy” rating in a research note on Friday, December 6th.

Nelnet Price Performance

NNI stock opened at $107.95 on Friday. Nelnet, Inc. has a 52-week low of $82.22 and a 52-week high of $127.32. The company has a quick ratio of 31.47, a current ratio of 31.47 and a debt-to-equity ratio of 2.78. The stock has a market cap of $3.92 billion, a price-to-earnings ratio of 35.51 and a beta of 0.90. The business has a fifty day moving average of $111.37 and a two-hundred day moving average of $108.97.

Nelnet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date is Monday, December 2nd. Nelnet’s payout ratio is 36.84%.

About Nelnet

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.