JPMorgan Chase & Co. Has $14.95 Million Holdings in Nelnet, Inc. (NYSE:NNI)

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

Several other hedge funds also recently modified their holdings of NNI. FMR LLC raised its position in Nelnet by 20.3% in the third quarter. FMR LLC now owns 556 shares of the credit services provider’s stock valued at $63,000 after purchasing an additional 94 shares during the last quarter. D.A. Davidson & CO. increased its stake in shares of Nelnet by 0.8% in the third quarter. D.A. Davidson & CO. now owns 17,536 shares of the credit services provider’s stock valued at $1,987,000 after buying an additional 136 shares during the period. MML Investors Services LLC raised its holdings in Nelnet by 7.4% in the 3rd quarter. MML Investors Services LLC now owns 2,279 shares of the credit services provider’s stock valued at $258,000 after buying an additional 157 shares during the last quarter. Inspire Investing LLC boosted its position in Nelnet by 5.0% during the 3rd quarter. Inspire Investing LLC now owns 3,662 shares of the credit services provider’s stock worth $415,000 after buying an additional 175 shares during the period. Finally, Crawford Fund Management LLC increased its position in Nelnet by 0.4% in the 3rd quarter. Crawford Fund Management LLC now owns 57,787 shares of the credit services provider’s stock valued at $6,546,000 after acquiring an additional 217 shares during the period. Institutional investors and hedge funds own 33.51% of the company’s stock.

Insider Activity at Nelnet

In other news, insider William J. Munn sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were 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 approximately $1,018,557.06. The trade was a 21.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 50.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Nelnet from a “buy” rating to a “hold” rating in a research note on Tuesday, December 24th.

Nelnet Stock Down 3.1 %

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

Nelnet Announces Dividend

The business 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. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date was Monday, December 2nd. Nelnet’s dividend payout ratio is currently 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.