Bank of New York Mellon Corp Has $10.16 Million Stock Position in Nelnet, Inc. (NYSE:NNI)

Bank of New York Mellon Corp reduced its stake in shares of Nelnet, Inc. (NYSE:NNI) by 10.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 95,083 shares of the credit services provider’s stock after selling 11,184 shares during the quarter. Bank of New York Mellon Corp owned 0.26% of Nelnet worth $10,156,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Kingsview Wealth Management LLC bought a new position in shares of Nelnet during the 3rd quarter worth about $2,613,000. Barclays PLC increased its stake in Nelnet by 127.4% during the third quarter. Barclays PLC now owns 28,996 shares of the credit services provider’s stock valued at $3,285,000 after acquiring an additional 16,245 shares during the period. Edgestream Partners L.P. bought a new position in Nelnet during the third quarter valued at about $851,000. Farmers & Merchants Investments Inc. raised its holdings in Nelnet by 0.5% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 1,187,527 shares of the credit services provider’s stock valued at $126,840,000 after acquiring an additional 5,708 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of Nelnet in the 3rd quarter worth approximately $323,000. 33.51% of the stock is owned by institutional investors.

Nelnet Price Performance

NYSE:NNI opened at $113.53 on Friday. The company has a debt-to-equity ratio of 2.78, a quick ratio of 31.47 and a current ratio of 31.47. The company has a 50-day moving average of $111.57 and a 200-day moving average of $111.18. Nelnet, Inc. has a 52 week low of $87.02 and a 52 week high of $127.32. The company has a market capitalization of $4.12 billion, a price-to-earnings ratio of 37.35 and a beta of 0.89.

Nelnet (NYSE:NNI) last posted its quarterly earnings results on Thursday, February 27th. The credit services provider reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.21. Nelnet had a net margin of 5.54% and a return on equity of 3.78%. The firm had revenue of $401.61 million during the quarter, compared to analyst estimates of $335.00 million. As a group, equities research analysts anticipate that Nelnet, Inc. will post 4.52 earnings per share for the current fiscal year.

Nelnet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend is Friday, February 28th. Nelnet’s dividend payout ratio is 22.40%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Nelnet from a “hold” rating to a “buy” rating in a research report on Tuesday, March 4th.

Nelnet Company Profile

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.