JPMorgan Chase & Co. Acquires 40,476 Shares of Nelnet, Inc. (NYSE:NNI)

JPMorgan Chase & Co. lifted its position in Nelnet, Inc. (NYSE:NNI - Free Report) by 30.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 172,480 shares of the credit services provider's stock after buying an additional 40,476 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.48% of Nelnet worth $18,423,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Christopher J. Hasenberg Inc purchased a new stake in Nelnet in the 4th quarter worth approximately $38,000. Blue Trust Inc. raised its position in shares of Nelnet by 1,293.1% in 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 in the last quarter. FMR LLC boosted its stake in Nelnet by 20.3% during the third quarter. FMR LLC now owns 556 shares of the credit services provider's stock valued at $63,000 after buying an additional 94 shares during the period. EntryPoint Capital LLC purchased a new position in Nelnet during the fourth quarter worth about $223,000. Finally, MML Investors Services LLC grew its position in Nelnet by 7.4% during the third quarter. MML Investors Services LLC now owns 2,279 shares of the credit services provider's stock worth $258,000 after buying an additional 157 shares in the last quarter. 33.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

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Nelnet Price Performance

Shares of NYSE:NNI traded down $0.70 during trading on Wednesday, reaching $105.28. The company had a trading volume of 19,716 shares, compared to its average volume of 61,076. The company has a fifty day moving average of $111.87 and a two-hundred day moving average of $110.59. 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 stock has a market capitalization of $3.82 billion, a P/E ratio of 34.63 and a beta of 0.88. Nelnet, Inc. has a 12 month low of $92.79 and a 12 month high of $127.32.

Nelnet (NYSE:NNI - Get Free Report) last released its earnings results on Thursday, February 27th. The credit services provider reported $1.44 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $335.00 million. Equities research analysts forecast that Nelnet, Inc. will post 4.52 earnings per share for the current year.

Nelnet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend was Friday, February 28th. Nelnet's dividend payout ratio is currently 22.40%.

Nelnet 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.