Alliancebernstein L.P. Trims Stock Position in Nelnet, Inc. (NYSE:NNI)

Alliancebernstein L.P. decreased its position in Nelnet, Inc. (NYSE:NNI - Free Report) by 63.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,437 shares of the credit services provider's stock after selling 33,433 shares during the period. Alliancebernstein L.P. owned 0.05% of Nelnet worth $2,076,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of NNI. Christopher J. Hasenberg Inc bought a new stake in shares of Nelnet in the 4th quarter valued at about $38,000. Blue Trust Inc. lifted its holdings in Nelnet by 1,293.1% during the fourth quarter. Blue Trust Inc. now owns 404 shares of the credit services provider's stock worth $46,000 after buying an additional 375 shares during the period. FMR LLC boosted its position in Nelnet by 20.3% during the 3rd quarter. FMR LLC now owns 556 shares of the credit services provider's stock valued at $63,000 after acquiring an additional 94 shares in the last quarter. Venator Management LLC purchased a new position in shares of Nelnet in the 4th quarter valued at $214,000. Finally, EntryPoint Capital LLC bought a new position in shares of Nelnet in the 4th quarter worth $223,000. Institutional investors own 33.51% of the company's stock.

Nelnet Stock Up 4.6 %

Shares of Nelnet stock traded up $4.73 during trading on Tuesday, reaching $106.82. The company's stock had a trading volume of 69,490 shares, compared to its average volume of 60,548. The company has a 50-day simple moving average of $111.18 and a two-hundred day simple moving average of $110.35. Nelnet, Inc. has a 1-year low of $93.59 and a 1-year high of $127.32. The company has a market cap of $3.88 billion, a price-to-earnings ratio of 35.14 and a beta of 0.88. The company has a quick ratio of 31.47, a current ratio of 31.47 and a debt-to-equity ratio of 2.78.

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

Nelnet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.28 per share. The ex-dividend date was Friday, February 28th. This represents a $1.12 dividend on an annualized basis and a yield of 1.05%. Nelnet's 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 note 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.