BNP Paribas Financial Markets Cuts Holdings in Nelnet, Inc. (NYSE:NNI)

BNP Paribas Financial Markets lessened its stake in Nelnet, Inc. (NYSE:NNI) by 5.5% in the 3rd quarter, HoldingsChannel.com reports. 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. FMR LLC grew its holdings in shares of Nelnet by 20.3% during the third quarter. FMR LLC now owns 556 shares of the credit services provider’s stock worth $63,000 after purchasing an additional 94 shares during the last quarter. Security National Bank of Sioux City Iowa IA purchased a new position in Nelnet during the 2nd quarter worth approximately $212,000. Quest Partners LLC grew its stake in Nelnet by 34,283.3% during the 3rd quarter. Quest Partners LLC now owns 2,063 shares of the credit services provider’s stock worth $234,000 after buying an additional 2,057 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new stake in Nelnet in the third quarter valued at approximately $288,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Nelnet in the third quarter valued at approximately $306,000. 33.51% of the stock is owned by institutional investors and hedge funds.

Nelnet Trading Down 1.1 %

Shares of NNI opened at $107.95 on Friday. The firm’s 50-day moving average is $111.37 and its two-hundred day moving average is $108.97. Nelnet, Inc. has a twelve month low of $82.22 and a twelve month high of $127.32. The company has a current ratio of 31.47, a quick ratio of 31.47 and a debt-to-equity ratio of 2.78. The firm has a market capitalization of $3.92 billion, a P/E ratio of 35.51 and a beta of 0.90.

Nelnet Dividend Announcement

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

Insider Buying and Selling

In other news, insider William J. Munn sold 2,500 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now owns 9,354 shares in the company, valued at $1,018,557.06. This trade represents a 21.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 50.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

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.