Jane Street Group LLC Decreases Stock Position in Nelnet, Inc. (NYSE:NNI)

Jane Street Group LLC lowered its stake in shares of Nelnet, Inc. (NYSE:NNI - Free Report) by 71.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,730 shares of the credit services provider's stock after selling 26,377 shares during the quarter. Jane Street Group LLC's holdings in Nelnet were worth $1,215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in Nelnet by 20.3% in the third quarter. FMR LLC now owns 556 shares of the credit services provider's stock worth $63,000 after acquiring an additional 94 shares in the last quarter. Security National Bank of Sioux City Iowa IA purchased a new position in shares of Nelnet in the second quarter worth $212,000. Quest Partners LLC grew its holdings in shares of Nelnet by 34,283.3% during the third quarter. Quest Partners LLC now owns 2,063 shares of the credit services provider's stock valued at $234,000 after buying an additional 2,057 shares during the last quarter. Landscape Capital Management L.L.C. acquired a new position in shares of Nelnet in the 3rd quarter valued at $288,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Nelnet in the 3rd quarter worth $306,000. Hedge funds and other institutional investors own 33.51% of the company's stock.

Nelnet Stock Performance

Shares of NYSE NNI traded down $0.30 during trading on Monday, reaching $105.89. 31,573 shares of the company traded hands, compared to its average volume of 73,054. Nelnet, Inc. has a 12-month low of $82.22 and a 12-month high of $127.32. 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 cap of $3.84 billion, a P/E ratio of 34.83 and a beta of 0.90. The firm's fifty day simple moving average is $109.89 and its 200 day simple moving average is $109.37.

Nelnet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend was Monday, December 2nd. Nelnet's dividend payout ratio is currently 36.84%.

Analysts Set New Price Targets

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

Insider Activity at Nelnet

In other news, insider William J. Munn sold 2,500 shares of the stock in a transaction that occurred on 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 in the company, valued at $1,018,557.06. This trade represents a 21.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 50.10% of the stock is owned by company insiders.

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.