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

Jane Street Group LLC decreased its holdings in shares of Nelnet, Inc. (NYSE:NNI - Free Report) by 78.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,345 shares of the credit services provider's stock after selling 8,385 shares during the period. Jane Street Group LLC's holdings in Nelnet were worth $250,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in NNI. MetLife Investment Management LLC boosted its holdings in Nelnet by 1.8% in the fourth quarter. MetLife Investment Management LLC now owns 8,510 shares of the credit services provider's stock worth $909,000 after purchasing an additional 151 shares during the last quarter. Blue Trust Inc. boosted its holdings in 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 purchasing an additional 375 shares during the last quarter. QRG Capital Management Inc. boosted its holdings in Nelnet by 8.6% in the fourth quarter. QRG Capital Management Inc. now owns 4,852 shares of the credit services provider's stock worth $518,000 after purchasing an additional 384 shares during the last quarter. Sterling Capital Management LLC boosted its holdings in Nelnet by 796.0% in the fourth quarter. Sterling Capital Management LLC now owns 448 shares of the credit services provider's stock worth $48,000 after purchasing an additional 398 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Nelnet by 2.8% during the 4th quarter. Invesco Ltd. now owns 33,139 shares of the credit services provider's stock worth $3,540,000 after acquiring an additional 892 shares during the last quarter. Institutional investors own 33.51% of the company's stock.

Nelnet Price Performance

NYSE NNI traded up $0.15 on Thursday, reaching $114.01. The company had a trading volume of 65,713 shares, compared to its average volume of 59,560. The firm's 50 day moving average price is $109.95 and its 200 day moving average price is $110.21. Nelnet, Inc. has a 12 month low of $97.13 and a 12 month high of $127.32. The company has a quick ratio of 31.47, a current ratio of 31.47 and a debt-to-equity ratio of 2.78. The stock has a market capitalization of $4.14 billion, a PE ratio of 37.50 and a beta of 0.93.

Nelnet (NYSE:NNI - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The credit services provider reported $2.39 EPS for the quarter, topping analysts' consensus estimates of $1.92 by $0.47. Nelnet had a net margin of 5.54% and a return on equity of 3.78%. The firm had revenue of $398.49 million during the quarter, compared to analysts' expectations of $393.00 million. As a group, equities analysts predict that Nelnet, Inc. will post 4.52 earnings per share for the current year.

Nelnet declared that its Board of Directors has initiated a share buyback plan on Thursday, May 8th that authorizes the company to buyback 5,000,000 outstanding shares. This buyback authorization authorizes the credit services provider to buy shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

Nelnet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.12 annualized dividend and a dividend yield of 0.98%. Nelnet's dividend payout ratio (DPR) is presently 21.17%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Nelnet from a "hold" rating to a "buy" rating in a research report on Tuesday, March 4th.

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.