JPMorgan Chase & Co. Has $23.20 Million Stake in Nelnet, Inc. $NNI

JPMorgan Chase & Co. boosted its holdings in Nelnet, Inc. (NYSE:NNI) by 7.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 185,029 shares of the credit services provider’s stock after purchasing an additional 12,941 shares during the period. JPMorgan Chase & Co. owned about 0.51% of Nelnet worth $23,199,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC lifted its position in Nelnet by 189.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 368 shares of the credit services provider’s stock worth $46,000 after buying an additional 241 shares in the last quarter. Osaic Holdings Inc. grew its holdings in shares of Nelnet by 170.3% in the 2nd quarter. Osaic Holdings Inc. now owns 373 shares of the credit services provider’s stock valued at $45,000 after acquiring an additional 235 shares in the last quarter. State of Wyoming acquired a new stake in shares of Nelnet in the second quarter valued at about $62,000. EverSource Wealth Advisors LLC increased its position in shares of Nelnet by 137.3% in the second quarter. EverSource Wealth Advisors LLC now owns 541 shares of the credit services provider’s stock valued at $66,000 after acquiring an additional 313 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in Nelnet during the third quarter worth about $86,000. 33.51% of the stock is currently owned by institutional investors and hedge funds.

Nelnet Stock Performance

Shares of NNI opened at $129.28 on Wednesday. The company has a market cap of $4.64 billion, a PE ratio of 10.98 and a beta of 0.82. The firm has a 50-day moving average of $131.00 and a 200-day moving average of $130.58. Nelnet, Inc. has a one year low of $98.15 and a one year high of $142.87. The company has a debt-to-equity ratio of 2.18, a current ratio of 28.27 and a quick ratio of 28.27.

Nelnet (NYSE:NNI) last issued its earnings results on Thursday, February 26th. The credit services provider reported $1.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.07). Nelnet had a net margin of 18.99% and a return on equity of 12.43%. The firm had revenue of $392.76 million during the quarter, compared to the consensus estimate of $382.00 million. As a group, equities analysts forecast that Nelnet, Inc. will post 4.52 earnings per share for the current year.

Nelnet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, February 27th. Nelnet’s dividend payout ratio (DPR) is presently 11.21%.

Wall Street Analyst Weigh In

NNI has been the subject of several recent research reports. TD Cowen reissued 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 report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.