SLM Co. (NASDAQ:SLM) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its holdings in SLM Co. (NASDAQ:SLM) by 5.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 275,546 shares of the credit services provider’s stock after selling 14,522 shares during the period. New York State Teachers Retirement System owned 0.13% of SLM worth $7,600,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. True Wealth Design LLC purchased a new stake in shares of SLM in the third quarter valued at about $31,000. Waldron Private Wealth LLC purchased a new stake in shares of SLM in the third quarter valued at about $31,000. Blue Trust Inc. grew its holdings in shares of SLM by 358.7% in the third quarter. Blue Trust Inc. now owns 1,399 shares of the credit services provider’s stock valued at $32,000 after purchasing an additional 1,094 shares during the period. Capital Performance Advisors LLP purchased a new position in SLM during the third quarter worth about $35,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in SLM during the fourth quarter worth about $86,000. 98.94% of the stock is currently owned by institutional investors and hedge funds.

SLM Stock Down 0.0 %

Shares of NASDAQ:SLM opened at $32.53 on Thursday. The firm’s 50 day moving average price is $28.52 and its 200 day moving average price is $24.80. The stock has a market cap of $6.91 billion, a price-to-earnings ratio of 12.28, a price-to-earnings-growth ratio of 0.85 and a beta of 1.22. SLM Co. has a fifty-two week low of $19.39 and a fifty-two week high of $32.65. The company has a quick ratio of 1.27, a current ratio of 1.32 and a debt-to-equity ratio of 3.37.

SLM (NASDAQ:SLM) last issued its earnings results on Thursday, January 23rd. The credit services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.06). SLM had a net margin of 20.73% and a return on equity of 31.66%. As a group, equities research analysts predict that SLM Co. will post 3.07 earnings per share for the current fiscal year.

SLM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Wednesday, March 5th will be issued a $0.13 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.52 annualized dividend and a yield of 1.60%. SLM’s dividend payout ratio (DPR) is 19.62%.

Insider Activity at SLM

In other SLM news, Director Robert S. Strong sold 4,500 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $27.25, for a total transaction of $122,625.00. Following the sale, the director now owns 83,130 shares of the company’s stock, valued at approximately $2,265,292.50. This trade represents a 5.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SLM. Royal Bank of Canada increased their target price on shares of SLM from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. JPMorgan Chase & Co. increased their target price on shares of SLM from $29.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Barclays increased their target price on shares of SLM from $34.00 to $38.00 and gave the stock an “overweight” rating in a research note on Tuesday. Compass Point increased their target price on shares of SLM from $31.00 to $34.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Finally, Keefe, Bruyette & Woods increased their target price on shares of SLM from $30.00 to $32.00 and gave the stock a “market perform” rating in a research note on Friday, January 24th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, SLM currently has an average rating of “Moderate Buy” and an average target price of $30.91.

SLM Company Profile

SLM Corporation, through its subsidiaries, originates and services private education loans to students and their families to finance the cost of their education in the United States. It is also involved in the provision of retail deposit accounts, including certificates of deposit, money market accounts, and high-yield savings accounts; and interest-bearing omnibus accounts.