Bank of New York Mellon Corp Trims Stake in Nelnet, Inc. (NYSE:NNI)

Bank of New York Mellon Corp lowered its stake in Nelnet, Inc. (NYSE:NNI - Free Report) by 10.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 95,083 shares of the credit services provider's stock after selling 11,184 shares during the period. Bank of New York Mellon Corp owned 0.26% of Nelnet worth $10,156,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kingsview Wealth Management LLC purchased a new position in Nelnet in the 3rd quarter worth approximately $2,613,000. MML Investors Services LLC increased its holdings in shares of Nelnet by 7.4% in the 3rd quarter. MML Investors Services LLC now owns 2,279 shares of the credit services provider's stock worth $258,000 after purchasing an additional 157 shares in the last quarter. Barclays PLC raised its stake in shares of Nelnet by 127.4% in the third quarter. Barclays PLC now owns 28,996 shares of the credit services provider's stock worth $3,285,000 after purchasing an additional 16,245 shares during the last quarter. Intech Investment Management LLC bought a new position in shares of Nelnet during the third quarter valued at $323,000. Finally, Edgestream Partners L.P. purchased a new stake in shares of Nelnet during the third quarter valued at $851,000. Institutional investors own 33.51% of the company's stock.

Nelnet Stock Performance

NYSE:NNI traded down $0.29 during trading hours on Monday, reaching $114.99. The company had a trading volume of 38,573 shares, compared to its average volume of 61,735. The firm has a market cap of $4.17 billion, a price-to-earnings ratio of 37.82 and a beta of 0.89. 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's 50 day moving average price is $111.75 and its 200-day moving average price is $111.17. Nelnet, Inc. has a 52 week low of $87.02 and a 52 week high of $127.32.

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Nelnet (NYSE:NNI - Get Free Report) last issued its quarterly earnings data 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 net margin of 5.54% and a return on equity of 3.78%. The firm had revenue of $401.61 million for the quarter, compared to analysts' expectations of $335.00 million. On average, analysts forecast that Nelnet, Inc. will post 4.52 EPS for the current year.

Nelnet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend was Friday, February 28th. Nelnet's dividend payout ratio is currently 22.40%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Nelnet from a "hold" rating to a "buy" rating in a research note on Tuesday, March 4th.

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.