Denali Advisors LLC Reduces Holdings in Nelnet, Inc. (NYSE:NNI)

Denali Advisors LLC lowered its position in Nelnet, Inc. (NYSE:NNI) by 2.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 62,010 shares of the credit services provider’s stock after selling 1,800 shares during the period. Denali Advisors LLC owned 0.17% of Nelnet worth $6,623,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc acquired a new stake in shares of Nelnet in the fourth quarter valued at about $38,000. Blue Trust Inc. raised its holdings in Nelnet by 1,293.1% in the 4th quarter. Blue Trust Inc. now owns 404 shares of the credit services provider’s stock valued at $46,000 after acquiring an additional 375 shares during the last quarter. FMR LLC lifted its stake in Nelnet by 20.3% in the 3rd quarter. FMR LLC now owns 556 shares of the credit services provider’s stock worth $63,000 after purchasing an additional 94 shares in the last quarter. Quest Partners LLC lifted its stake in Nelnet by 34,283.3% in the 3rd quarter. Quest Partners LLC now owns 2,063 shares of the credit services provider’s stock worth $234,000 after purchasing an additional 2,057 shares in the last quarter. Finally, MML Investors Services LLC boosted its holdings 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 worth $258,000 after purchasing an additional 157 shares during the last quarter. Institutional investors and hedge funds own 33.51% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Nelnet from a “hold” rating to a “buy” rating in a report on Saturday.

Nelnet Stock Down 0.3 %

NYSE NNI opened at $111.39 on Wednesday. The company has a quick ratio of 31.47, a current ratio of 31.47 and a debt-to-equity ratio of 2.78. Nelnet, Inc. has a 52 week low of $83.75 and a 52 week high of $127.32. The business’s fifty day simple moving average is $108.89 and its 200-day simple moving average is $110.56. The firm has a market cap of $4.04 billion, a PE ratio of 36.64 and a beta of 0.91.

Nelnet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.28 dividend. The ex-dividend date is Friday, February 28th. This represents a $1.12 annualized dividend and a yield of 1.01%. Nelnet’s payout ratio is 36.84%.

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.