JPMorgan Chase & Co. Grows Holdings in Nelnet, Inc. $NNI

JPMorgan Chase & Co. raised its position in shares of Nelnet, Inc. (NYSE:NNI) by 7.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 185,029 shares of the credit services provider’s stock after purchasing an additional 12,941 shares during the quarter. JPMorgan Chase & Co. owned 0.51% of Nelnet worth $23,199,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC lifted its holdings in Nelnet by 189.8% in the 3rd quarter. Smartleaf Asset Management LLC now owns 368 shares of the credit services provider’s stock worth $46,000 after purchasing an additional 241 shares in the last quarter. State of Wyoming boosted its holdings in shares of Nelnet by 91.2% during the 3rd quarter. State of Wyoming now owns 973 shares of the credit services provider’s stock valued at $122,000 after purchasing an additional 464 shares during the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Nelnet during the third quarter valued at about $1,505,000. Teacher Retirement System of Texas increased its holdings in shares of Nelnet by 13.7% in the third quarter. Teacher Retirement System of Texas now owns 7,593 shares of the credit services provider’s stock worth $952,000 after purchasing an additional 916 shares during the last quarter. Finally, Anchor Capital Advisors LLC lifted its position in shares of Nelnet by 1.3% in the third quarter. Anchor Capital Advisors LLC now owns 13,037 shares of the credit services provider’s stock worth $1,635,000 after buying an additional 166 shares in the last quarter. 33.51% of the stock is owned by hedge funds and other institutional investors.

Nelnet Stock Performance

NYSE NNI opened at $129.23 on Monday. The business’s 50 day moving average price is $132.81 and its 200-day moving average price is $130.32. Nelnet, Inc. has a fifty-two week low of $98.15 and a fifty-two week high of $142.87. The company has a market cap of $4.64 billion, a P/E ratio of 10.98 and a beta of 0.82. The company has a debt-to-equity ratio of 2.18, a quick ratio of 28.98 and a current ratio of 28.98.

Nelnet (NYSE:NNI) last issued its quarterly earnings results on Thursday, February 26th. The credit services provider reported $1.56 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $382.00 million. Sell-side analysts predict that Nelnet, Inc. will post 4.52 earnings per share for the current year.

Nelnet Announces Dividend

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

Insiders Place Their Bets

In related news, Director Deun Jona M. Van sold 400 shares of the stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $128.95, for a total value of $51,580.00. Following the sale, the director directly owned 704 shares of the company’s stock, valued at $90,780.80. This represents a 36.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 50.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

About Nelnet

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.