Nelnet, Inc. $NNI Shares Sold by Denali Advisors LLC

Denali Advisors LLC cut its position in shares of Nelnet, Inc. (NYSE:NNI) by 12.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 39,000 shares of the credit services provider’s stock after selling 5,422 shares during the quarter. Denali Advisors LLC’s holdings in Nelnet were worth $4,890,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its position in shares of Nelnet by 29.7% in the second quarter. JPMorgan Chase & Co. now owns 172,088 shares of the credit services provider’s stock valued at $20,843,000 after buying an additional 39,417 shares in the last quarter. Qube Research & Technologies Ltd grew its stake in Nelnet by 66.4% in the 2nd quarter. Qube Research & Technologies Ltd now owns 96,840 shares of the credit services provider’s stock valued at $11,729,000 after acquiring an additional 38,628 shares during the last quarter. Marshall Wace LLP grew its stake in Nelnet by 421.7% in the 2nd quarter. Marshall Wace LLP now owns 46,474 shares of the credit services provider’s stock valued at $5,629,000 after acquiring an additional 37,566 shares during the last quarter. American Century Companies Inc. increased its holdings in Nelnet by 18.0% during the 2nd quarter. American Century Companies Inc. now owns 143,014 shares of the credit services provider’s stock valued at $17,322,000 after acquiring an additional 21,782 shares in the last quarter. Finally, Jane Street Group LLC raised its position in Nelnet by 583.3% during the first quarter. Jane Street Group LLC now owns 16,023 shares of the credit services provider’s stock worth $1,777,000 after acquiring an additional 13,678 shares during the last quarter. 33.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Nelnet

In related news, Director Deun Jona M. Van sold 400 shares of the stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $128.95, for a total transaction of $51,580.00. Following the transaction, the director directly owned 704 shares in the company, valued at approximately $90,780.80. This represents a 36.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 50.90% of the stock is currently owned by corporate insiders.

Nelnet Stock Performance

Shares of NNI opened at $129.81 on Monday. Nelnet, Inc. has a 1 year low of $98.15 and a 1 year high of $142.87. The company’s 50 day simple moving average is $133.59 and its 200 day simple moving average is $129.95. The company has a market capitalization of $4.66 billion, a price-to-earnings ratio of 10.91 and a beta of 0.82. The company has a debt-to-equity ratio of 2.18, a quick ratio of 28.98 and a current ratio of 28.98.

Nelnet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be issued a dividend of $0.33 per share. The ex-dividend date is Friday, February 27th. This represents a $1.32 annualized dividend and a dividend yield of 1.0%. Nelnet’s dividend payout ratio (DPR) is 11.09%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. TD Cowen reiterated a “hold” rating on shares of Nelnet in a research report on Thursday, January 8th. Zacks Research raised Nelnet from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 12th. Finally, Wall Street Zen cut Nelnet from a “strong-buy” rating to a “hold” rating in a report on Saturday, November 15th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $140.00.

About Nelnet

Nelnet, Inc (NYSE: NNI) is a diversified education services company founded in 1978 and headquartered in Lincoln, Nebraska. Originally established as the National Education Loan Network by Michael S. Dunlap, the company has grown into a prominent provider of student loan servicing and education finance solutions in the United States.

At the core of Nelnet’s business is student loan servicing, where it administers and manages federal and private education loans on behalf of borrowers and lending partners.