JPMorgan Chase & Co. Has $18.42 Million Stock Holdings in Nelnet, Inc. (NYSE:NNI)

JPMorgan Chase & Co. lifted its stake in shares of Nelnet, Inc. (NYSE:NNI - Free Report) by 30.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 172,480 shares of the credit services provider's stock after buying an additional 40,476 shares during the period. JPMorgan Chase & Co. owned approximately 0.48% of Nelnet worth $18,423,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of NNI. FMR LLC grew its holdings in Nelnet by 20.3% in the third quarter. FMR LLC now owns 556 shares of the credit services provider's stock valued at $63,000 after purchasing an additional 94 shares during the period. MML Investors Services LLC raised its position in shares of Nelnet by 7.4% during the 3rd quarter. MML Investors Services LLC now owns 2,279 shares of the credit services provider's stock valued at $258,000 after buying an additional 157 shares during the period. Christopher J. Hasenberg Inc acquired a new position in Nelnet in the fourth quarter valued at about $38,000. Blue Trust Inc. raised its position in Nelnet by 1,293.1% in the fourth quarter. Blue Trust Inc. now owns 404 shares of the credit services provider's stock valued at $46,000 after purchasing an additional 375 shares during the period. Finally, QRG Capital Management Inc. lifted its stake in Nelnet by 8.6% during the 4th quarter. QRG Capital Management Inc. now owns 4,852 shares of the credit services provider's stock worth $518,000 after acquiring an additional 384 shares in the last quarter. 33.51% of the stock is owned by institutional investors and hedge funds.

Nelnet Price Performance

Shares of NYSE NNI traded down $0.02 during trading on Thursday, hitting $105.59. 6,157 shares of the company were exchanged, compared to its average volume of 60,899. The company has a debt-to-equity ratio of 2.78, a current ratio of 31.47 and a quick ratio of 31.47. The firm's fifty day moving average price is $111.75 and its 200 day moving average price is $110.56. Nelnet, Inc. has a 1 year low of $93.59 and a 1 year high of $127.32. The company has a market cap of $3.83 billion, a price-to-earnings ratio of 34.77 and a beta of 0.88.

Nelnet (NYSE:NNI - Get Free Report) last released its earnings results on Thursday, February 27th. The credit services provider reported $1.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.23 by $0.21. Nelnet had a net margin of 5.54% and a return on equity of 3.78%. The company had revenue of $401.61 million for the quarter, compared to analyst estimates of $335.00 million. On average, sell-side analysts expect that Nelnet, Inc. will post 4.52 earnings per share for the current fiscal year.

Nelnet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.28 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.12 annualized dividend and a yield of 1.06%. Nelnet's dividend payout ratio is presently 22.40%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Nelnet from a "hold" rating to a "buy" rating in a 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.