Alliancebernstein L.P. Sells 33,433 Shares of Nelnet, Inc. (NYSE:NNI)

Alliancebernstein L.P. lessened its holdings in Nelnet, Inc. (NYSE:NNI) by 63.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,437 shares of the credit services provider’s stock after selling 33,433 shares during the period. Alliancebernstein L.P. owned 0.05% of Nelnet worth $2,076,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. FMR LLC raised its position in shares of 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 lifted its position in 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 acquiring an additional 157 shares during the last quarter. Christopher J. Hasenberg Inc bought a new stake in shares of Nelnet during the fourth quarter worth approximately $38,000. Blue Trust Inc. grew its position in shares of 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 last quarter. Finally, QRG Capital Management Inc. increased its stake in shares of Nelnet by 8.6% during the fourth quarter. QRG Capital Management Inc. now owns 4,852 shares of the credit services provider’s stock worth $518,000 after purchasing an additional 384 shares during the period. Institutional investors and hedge funds own 33.51% of the company’s stock.

Nelnet Trading Down 0.3 %

Shares of NYSE:NNI opened at $105.70 on Thursday. The business’s 50 day simple moving average is $111.75 and its 200 day simple moving average 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 debt-to-equity ratio of 2.78, a current ratio of 31.47 and a quick ratio of 31.47. The company has a market capitalization of $3.84 billion, a P/E ratio of 34.77 and a beta of 0.88.

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

Nelnet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.06%. The ex-dividend date was Friday, February 28th. Nelnet’s payout ratio is presently 22.40%.

Wall Street Analysts Forecast Growth

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