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

Denali Advisors LLC lowered its holdings in Nelnet, Inc. (NYSE:NNI) by 2.8% in the fourth quarter, HoldingsChannel reports. The firm owned 62,010 shares of the credit services provider’s stock after selling 1,800 shares during the quarter. Denali Advisors LLC’s holdings in Nelnet were worth $6,623,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Handelsbanken Fonder AB grew its stake in Nelnet by 51.0% during the 4th quarter. Handelsbanken Fonder AB now owns 3,551 shares of the credit services provider’s stock worth $379,000 after purchasing an additional 1,200 shares in the last quarter. Farmers & Merchants Investments Inc. grew its position in shares of Nelnet by 0.5% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 1,187,527 shares of the credit services provider’s stock worth $126,840,000 after buying an additional 5,708 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Nelnet by 1,293.1% during the fourth quarter. Blue Trust Inc. now owns 404 shares of the credit services provider’s stock worth $46,000 after buying an additional 375 shares during the period. Christopher J. Hasenberg Inc purchased a new stake in shares of Nelnet during the fourth quarter worth approximately $38,000. Finally, Bar Harbor Wealth Management raised its holdings in Nelnet by 2.4% in the fourth quarter. Bar Harbor Wealth Management now owns 109,666 shares of the credit services provider’s stock valued at $11,713,000 after acquiring an additional 2,577 shares in the last quarter. 33.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Nelnet Stock Down 0.3 %

Nelnet stock opened at $111.39 on Wednesday. The stock has a market cap of $4.04 billion, a PE ratio of 36.64 and a beta of 0.91. 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 stock’s fifty day moving average is $108.89 and its two-hundred day moving average is $110.56. Nelnet, Inc. has a 1-year low of $83.75 and a 1-year high of $127.32.

Nelnet Dividend Announcement

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

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.