Corebridge Financial Inc. Sells 534 Shares of Nelnet, Inc. (NYSE:NNI)

Corebridge Financial Inc. cut its stake in Nelnet, Inc. (NYSE:NNI) by 7.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,069 shares of the credit services provider’s stock after selling 534 shares during the quarter. Corebridge Financial Inc.’s holdings in Nelnet were worth $755,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Christopher J. Hasenberg Inc bought a new position in shares of Nelnet during the fourth quarter valued at approximately $38,000. Blue Trust Inc. grew its position 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 increased its stake in Nelnet by 20.3% in the third quarter. FMR LLC now owns 556 shares of the credit services provider’s stock worth $63,000 after purchasing an additional 94 shares during the period. MML Investors Services LLC lifted its position in shares of Nelnet by 7.4% during the third 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. Finally, Handelsbanken Fonder AB boosted its stake in shares of Nelnet by 51.0% during the fourth quarter. Handelsbanken Fonder AB now owns 3,551 shares of the credit services provider’s stock valued at $379,000 after purchasing an additional 1,200 shares during the period. 33.51% of the stock is owned by hedge funds and other institutional investors.

Nelnet Stock Performance

Shares of Nelnet stock opened at $102.89 on Monday. The company has a current ratio of 31.47, a quick ratio of 31.47 and a debt-to-equity ratio of 2.78. The stock’s fifty day moving average price is $113.08 and its 200-day moving average price is $111.08. The firm has a market cap of $3.73 billion, a P/E ratio of 33.85 and a beta of 0.88. Nelnet, Inc. has a 12 month low of $92.24 and a 12 month high of $127.32.

Nelnet (NYSE:NNI) last posted its earnings results on Thursday, February 27th. The credit services provider reported $1.44 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 business had revenue of $401.61 million for the quarter, compared to the consensus estimate of $335.00 million. On average, equities research analysts expect that Nelnet, Inc. will post 4.52 earnings per share for the current fiscal year.

Nelnet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date was Friday, February 28th. Nelnet’s payout ratio is currently 22.40%.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Nelnet from a “hold” rating to a “buy” rating in a research note on Tuesday, March 4th.

Nelnet 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.