JPMorgan Chase & Co. Acquires 12,941 Shares of Nelnet, Inc. $NNI

JPMorgan Chase & Co. lifted its stake in Nelnet, Inc. (NYSE:NNI) by 7.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 185,029 shares of the credit services provider’s stock after purchasing an additional 12,941 shares during the period. JPMorgan Chase & Co.’s holdings in Nelnet were worth $23,199,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its position in Nelnet by 20.9% in the 1st quarter. AQR Capital Management LLC now owns 8,575 shares of the credit services provider’s stock valued at $951,000 after buying an additional 1,485 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Nelnet by 2.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,694 shares of the credit services provider’s stock valued at $1,297,000 after acquiring an additional 299 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of Nelnet by 1,246.0% during the first quarter. Jones Financial Companies Lllp now owns 3,365 shares of the credit services provider’s stock valued at $373,000 after acquiring an additional 3,115 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Nelnet by 7.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 58,415 shares of the credit services provider’s stock valued at $6,480,000 after purchasing an additional 3,923 shares during the period. Finally, Jane Street Group LLC grew its stake in Nelnet by 583.3% in the first quarter. Jane Street Group LLC now owns 16,023 shares of the credit services provider’s stock worth $1,777,000 after purchasing an additional 13,678 shares in the last quarter. Hedge funds and other institutional investors own 33.51% of the company’s stock.

Nelnet Stock Down 1.6%

Shares of NYSE NNI opened at $129.23 on Monday. Nelnet, Inc. has a 12-month low of $98.15 and a 12-month high of $142.87. The stock’s fifty day simple moving average is $132.81 and its two-hundred day simple moving average is $130.32. The stock has a market capitalization of $4.64 billion, a PE ratio of 10.98 and a beta of 0.82. The company has a current ratio of 28.98, a quick ratio of 28.98 and a debt-to-equity ratio of 2.18.

Nelnet (NYSE:NNI) last issued its quarterly earnings data on Thursday, February 26th. The credit services provider reported $1.56 earnings per share for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.07). Nelnet had a return on equity of 12.52% and a net margin of 18.99%.The company had revenue of $390.43 million for the quarter, compared to analysts’ expectations of $382.00 million. As a group, analysts expect that Nelnet, Inc. will post 4.52 EPS for the current fiscal year.

Nelnet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, February 27th. Nelnet’s dividend payout ratio is presently 11.21%.

Insider Buying and Selling at Nelnet

In other news, Director Deun Jona M. Van sold 400 shares of Nelnet stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $128.95, for a total value of $51,580.00. Following the transaction, the director owned 704 shares of the company’s stock, valued at $90,780.80. The trade was a 36.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 50.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NNI. Zacks Research raised Nelnet from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 12th. Wall Street Zen lowered Nelnet from a “strong-buy” rating to a “hold” rating in a research note on Saturday, November 15th. Finally, TD Cowen restated a “hold” rating on shares of Nelnet in a report on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $140.00.

Nelnet Company Profile

Nelnet, Inc (NYSE: NNI) is a diversified education services company founded in 1978 and headquartered in Lincoln, Nebraska. Originally established as the National Education Loan Network by Michael S. Dunlap, the company has grown into a prominent provider of student loan servicing and education finance solutions in the United States.

At the core of Nelnet’s business is student loan servicing, where it administers and manages federal and private education loans on behalf of borrowers and lending partners.