JPMorgan Chase & Co. grew its holdings in shares of Nelnet, Inc. (NYSE:NNI) by 2.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 153,017 shares of the credit services provider’s stock after purchasing an additional 3,496 shares during the period. JPMorgan Chase & Co. owned 0.38% of Nelnet worth $8,932,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of NNI. Magnolia Group LLC grew its position in Nelnet by 18.6% in the 1st quarter. Magnolia Group LLC now owns 1,022,808 shares of the credit services provider’s stock valued at $56,326,000 after buying an additional 160,691 shares in the last quarter. Farmers & Merchants Investments Inc. boosted its holdings in shares of Nelnet by 8.8% in the second quarter. Farmers & Merchants Investments Inc. now owns 1,582,766 shares of the credit services provider’s stock worth $93,731,000 after buying an additional 127,488 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Nelnet by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,462,778 shares of the credit services provider’s stock worth $128,902,000 after purchasing an additional 36,540 shares in the last quarter. Boston Partners lifted its position in shares of Nelnet by 2.1% in the first quarter. Boston Partners now owns 1,070,799 shares of the credit services provider’s stock worth $58,969,000 after purchasing an additional 22,020 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. purchased a new stake in shares of Nelnet in the second quarter worth approximately $1,184,000. 34.98% of the stock is currently owned by institutional investors.
NYSE NNI opened at $68.78 on Monday. The company has a 50 day simple moving average of $65.43 and a 200-day simple moving average of $59.85. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of 12.37 and a beta of 0.41. The company has a debt-to-equity ratio of 9.15, a current ratio of 70.11 and a quick ratio of 70.11. Nelnet, Inc. has a 52-week low of $47.59 and a 52-week high of $69.97.
Nelnet (NYSE:NNI) last announced its quarterly earnings data on Thursday, August 8th. The credit services provider reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.08. Nelnet had a net margin of 7.45% and a return on equity of 9.61%. The business had revenue of $241.97 million for the quarter, compared to the consensus estimate of $281.00 million. During the same quarter last year, the company posted $1.30 earnings per share.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a dividend of $0.18 per share. The ex-dividend date was Thursday, August 29th. This represents a $0.72 dividend on an annualized basis and a yield of 1.05%.
Nelnet, Inc provides education related products and services, and loan asset management services worldwide. The company’s Loan Servicing and Systems is involved in loan servicing activities, such as loan conversion, application processing, borrower updates, customer service, payment processing, due diligence procedures, funds management reconciliation, and claim processing activities for student loan portfolio and third-party clients.
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