JPMorgan Chase & Co. Sells 47,793 Shares of Nelnet, Inc. (NYSE:NNI)

JPMorgan Chase & Co. lessened its holdings in Nelnet, Inc. (NYSE:NNI) by 26.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 132,004 shares of the credit services provider’s stock after selling 47,793 shares during the quarter. JPMorgan Chase & Co. owned 0.36% of Nelnet worth $14,953,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Geode Capital Management LLC raised its stake in Nelnet by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 360,493 shares of the credit services provider’s stock worth $40,846,000 after purchasing an additional 1,572 shares in the last quarter. American Century Companies Inc. raised its position in shares of Nelnet by 4.9% in the second quarter. American Century Companies Inc. now owns 122,055 shares of the credit services provider’s stock valued at $12,310,000 after buying an additional 5,752 shares in the last quarter. Denali Advisors LLC boosted its stake in shares of Nelnet by 33.0% in the second quarter. Denali Advisors LLC now owns 64,510 shares of the credit services provider’s stock valued at $6,506,000 after buying an additional 16,000 shares during the period. Crawford Fund Management LLC grew its position in Nelnet by 0.4% during the third quarter. Crawford Fund Management LLC now owns 57,787 shares of the credit services provider’s stock worth $6,546,000 after buying an additional 217 shares in the last quarter. Finally, Guardian Wealth Management Inc. raised its holdings in Nelnet by 1.0% in the 3rd quarter. Guardian Wealth Management Inc. now owns 46,886 shares of the credit services provider’s stock valued at $5,311,000 after acquiring an additional 459 shares in the last quarter. 33.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Nelnet

In other Nelnet news, insider William J. Munn sold 2,500 shares of Nelnet stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $108.89, for a total value of $272,225.00. Following the transaction, the insider now owns 9,354 shares in the company, valued at $1,018,557.06. The trade was a 21.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 50.10% of the company’s stock.

Nelnet Price Performance

NNI stock opened at $102.88 on Friday. The company’s 50-day moving average price is $108.53 and its two-hundred day moving average price is $109.60. The firm has a market cap of $3.73 billion, a P/E ratio of 33.84 and a beta of 0.91. The company has a quick ratio of 31.47, a current ratio of 31.47 and a debt-to-equity ratio of 2.78. Nelnet, Inc. has a 12 month low of $82.22 and a 12 month high of $127.32.

Nelnet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a $0.28 dividend. The ex-dividend date was Monday, December 2nd. This represents a $1.12 dividend on an annualized basis and a yield of 1.09%. Nelnet’s dividend payout ratio (DPR) is 36.84%.

Analysts Set New Price Targets

Separately, StockNews.com lowered Nelnet from a “buy” rating to a “hold” rating in a report on Tuesday, December 24th.

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.