Nelnet, Inc. (NYSE:NNI) Holdings Lowered by Jane Street Group LLC

Jane Street Group LLC cut its stake in Nelnet, Inc. (NYSE:NNI) by 71.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,730 shares of the credit services provider’s stock after selling 26,377 shares during the period. Jane Street Group LLC’s holdings in Nelnet were worth $1,215,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. FMR LLC increased its position in shares of Nelnet by 20.3% during the 3rd 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. Security National Bank of Sioux City Iowa IA bought a new position in Nelnet during the second quarter valued at about $212,000. Quest Partners LLC grew its holdings in Nelnet by 34,283.3% during the third quarter. Quest Partners LLC now owns 2,063 shares of the credit services provider’s stock worth $234,000 after acquiring an additional 2,057 shares during the period. Landscape Capital Management L.L.C. bought a new stake in Nelnet in the third quarter worth about $288,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Nelnet in the 3rd quarter valued at about $306,000. Institutional investors and hedge funds own 33.51% of the company’s stock.

Insiders Place Their Bets

In other news, insider William J. Munn sold 2,500 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $108.89, for a total value of $272,225.00. Following the completion of the sale, the insider now owns 9,354 shares of the company’s stock, valued at $1,018,557.06. This trade represents a 21.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 50.10% of the company’s stock.

Nelnet Trading Down 0.4 %

Shares of NYSE NNI opened at $106.19 on Monday. 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 12 month low of $82.22 and a 12 month high of $127.32. The company has a market cap of $3.85 billion, a price-to-earnings ratio of 34.93 and a beta of 0.90. The business has a fifty day simple moving average of $110.01 and a 200-day simple moving average of $109.33.

Nelnet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date was Monday, December 2nd. Nelnet’s dividend payout ratio is presently 36.84%.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Nelnet from a “buy” rating to a “hold” rating in a research note on Tuesday, December 24th.

Nelnet Company Profile

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.