JPMorgan Chase & Co. Has $14.95 Million Holdings in Nelnet, Inc. (NYSE:NNI)

JPMorgan Chase & Co. lessened its position in Nelnet, Inc. (NYSE:NNI - Free Report) by 26.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 132,004 shares of the credit services provider's stock after selling 47,793 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.36% of Nelnet worth $14,953,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in shares of Nelnet by 0.4% during the third quarter. Geode Capital Management LLC now owns 360,493 shares of the credit services provider's stock worth $40,846,000 after purchasing an additional 1,572 shares during the period. American Century Companies Inc. lifted its position in Nelnet by 4.9% in the 2nd quarter. American Century Companies Inc. now owns 122,055 shares of the credit services provider's stock worth $12,310,000 after buying an additional 5,752 shares in the last quarter. Denali Advisors LLC boosted its stake in shares of Nelnet by 33.0% during the 2nd quarter. Denali Advisors LLC now owns 64,510 shares of the credit services provider's stock valued at $6,506,000 after buying an additional 16,000 shares during the period. Crawford Fund Management LLC grew its holdings in shares of Nelnet by 0.4% during the 3rd quarter. Crawford Fund Management LLC now owns 57,787 shares of the credit services provider's stock valued at $6,546,000 after acquiring an additional 217 shares in the last quarter. Finally, Guardian Wealth Management Inc. increased its stake in shares of Nelnet by 1.0% in the third quarter. Guardian Wealth Management Inc. now owns 46,886 shares of the credit services provider's stock worth $5,311,000 after acquiring an additional 459 shares during the last quarter. Institutional investors and hedge funds own 33.51% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Nelnet from a "buy" rating to a "hold" rating in a research report on Tuesday, December 24th.

Nelnet Stock Down 3.1 %

NYSE:NNI traded down $3.24 during mid-day trading on Friday, reaching $102.88. The stock had a trading volume of 48,368 shares, compared to its average volume of 36,811. The stock has a market cap of $3.73 billion, a P/E ratio of 33.84 and a beta of 0.91. The business's 50 day moving average is $108.53 and its 200 day moving average is $109.67. The company has a debt-to-equity ratio of 2.78, a current ratio of 31.47 and a quick ratio of 31.47. Nelnet, Inc. has a fifty-two week low of $82.22 and a fifty-two week high of $127.32.

Nelnet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.12 annualized dividend and a dividend yield of 1.09%. Nelnet's dividend payout ratio (DPR) is 36.84%.

Insider Activity

In other news, insider William J. Munn sold 2,500 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $108.89, for a total transaction of $272,225.00. Following the transaction, the insider now owns 9,354 shares of the company's stock, valued at approximately $1,018,557.06. This represents a 21.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 50.10% of the stock is owned by insiders.

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.