Steward Partners Investment Advisory LLC Sells 963 Shares of SLM Co. (NASDAQ:SLM)

Steward Partners Investment Advisory LLC lowered its holdings in shares of SLM Co. (NASDAQ:SLMGet Rating) by 8.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 10,974 shares of the credit services provider’s stock after selling 963 shares during the period. Steward Partners Investment Advisory LLC’s holdings in SLM were worth $201,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA increased its position in shares of SLM by 13.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 17,587,780 shares of the credit services provider’s stock worth $345,952,000 after buying an additional 2,021,850 shares during the period. Wedge Capital Management L L P NC increased its position in shares of SLM by 221.0% during the first quarter. Wedge Capital Management L L P NC now owns 2,550,985 shares of the credit services provider’s stock worth $46,836,000 after buying an additional 1,756,241 shares during the period. First Trust Advisors LP increased its position in shares of SLM by 42.6% during the fourth quarter. First Trust Advisors LP now owns 1,309,456 shares of the credit services provider’s stock worth $25,757,000 after buying an additional 391,104 shares during the period. Los Angeles Capital Management LLC increased its position in shares of SLM by 20.5% during the fourth quarter. Los Angeles Capital Management LLC now owns 1,124,897 shares of the credit services provider’s stock worth $22,127,000 after buying an additional 191,093 shares during the period. Finally, Arnhold LLC grew its holdings in SLM by 28.3% in the fourth quarter. Arnhold LLC now owns 1,123,881 shares of the credit services provider’s stock worth $22,107,000 after purchasing an additional 248,075 shares during the period. 92.97% of the stock is currently owned by institutional investors and hedge funds.

SLM Stock Up 0.6 %

SLM stock opened at $15.60 on Monday. SLM Co. has a 1-year low of $14.60 and a 1-year high of $20.88. The firm has a market capitalization of $4.20 billion, a price-to-earnings ratio of 7.19 and a beta of 1.26. The firm’s fifty day moving average price is $17.05 and its two-hundred day moving average price is $17.74. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 3.10.

SLM (NASDAQ:SLMGet Rating) last released its quarterly earnings data on Wednesday, July 27th. The credit services provider reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.21. SLM had a net margin of 31.67% and a return on equity of 34.38%. During the same period last year, the business earned $0.45 EPS. On average, equities research analysts predict that SLM Co. will post 2.91 earnings per share for the current fiscal year.

SLM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Friday, September 2nd will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend is Thursday, September 1st. SLM’s payout ratio is currently 20.28%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on SLM shares. Barclays reduced their price target on shares of SLM from $27.00 to $22.00 and set an “overweight” rating for the company in a report on Monday, July 11th. Citigroup reduced their price target on shares of SLM from $26.00 to $21.00 in a report on Monday, May 2nd. Keefe, Bruyette & Woods reduced their price target on shares of SLM from $24.00 to $21.00 in a report on Monday, July 11th. Finally, Stephens cut shares of SLM from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $24.00 to $19.00 in a report on Monday, April 18th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.

SLM Profile

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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 also offers retail deposit accounts, including certificates of deposit, money market deposit accounts, and high-yield savings accounts; and omnibus accounts, as well as credit card loans.

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Institutional Ownership by Quarter for SLM (NASDAQ:SLM)

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