Arizona State Retirement System Sells 2,751 Shares of SLM Co. (NASDAQ:SLM)

Arizona State Retirement System decreased its holdings in shares of SLM Co. (NASDAQ:SLMGet Rating) by 3.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 71,325 shares of the credit services provider’s stock after selling 2,751 shares during the period. Arizona State Retirement System’s holdings in SLM were worth $1,310,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Yousif Capital Management LLC bought a new stake in SLM during the fourth quarter valued at $3,240,000. Toronto Dominion Bank bought a new stake in SLM during the fourth quarter worth about $2,695,000. ProShare Advisors LLC lifted its stake in SLM by 8.9% during the fourth quarter. ProShare Advisors LLC now owns 51,711 shares of the credit services provider’s stock worth $1,017,000 after purchasing an additional 4,227 shares during the last quarter. Virginia Retirement Systems ET AL lifted its stake in SLM by 3.4% during the first quarter. Virginia Retirement Systems ET AL now owns 147,200 shares of the credit services provider’s stock worth $2,703,000 after purchasing an additional 4,800 shares during the last quarter. Finally, GoalVest Advisory LLC bought a new stake in SLM during the first quarter worth about $551,000. Institutional investors own 92.97% of the company’s stock.

SLM Stock Up 1.6 %

Shares of NASDAQ:SLM opened at $15.85 on Tuesday. SLM Co. has a 1 year low of $14.60 and a 1 year high of $20.88. The company has a market cap of $4.27 billion, a PE ratio of 5.25 and a beta of 1.19. The company has a debt-to-equity ratio of 3.02, a current ratio of 1.22 and a quick ratio of 1.22. The stock’s 50-day moving average is $17.05 and its 200 day moving average is $17.72.

SLM (NASDAQ:SLMGet Rating) last announced its quarterly earnings results on Wednesday, July 27th. The credit services provider reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.21. SLM had a return on equity of 46.75% and a net margin of 37.26%. During the same quarter in the prior year, the firm posted $0.45 EPS. Sell-side analysts anticipate that SLM Co. will post 2.61 EPS for the current year.

SLM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Friday, September 2nd will be issued a dividend of $0.11 per share. The ex-dividend date is Thursday, September 1st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.78%. SLM’s dividend payout ratio (DPR) is 14.57%.

Analyst Upgrades and Downgrades

SLM has been the subject of several research analyst reports. Barclays dropped their price target on SLM from $27.00 to $22.00 and set an “overweight” rating for the company in a research note on Monday, July 11th. Stephens lowered SLM from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $24.00 to $19.00 in a research note on Monday, April 18th. Citigroup lowered their target price on SLM from $26.00 to $21.00 in a research note on Monday, May 2nd. Finally, Keefe, Bruyette & Woods lowered their target price on SLM from $24.00 to $21.00 in a research note on Monday, July 11th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, 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.

Further Reading

Institutional Ownership by Quarter for SLM (NASDAQ:SLM)

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