California Public Employees Retirement System Sells 74,461 Shares of SLM Co. (NASDAQ:SLM)

California Public Employees Retirement System trimmed its holdings in shares of SLM Co. (NASDAQ:SLMGet Rating) by 12.0% during the second quarter, Holdings Channel.com reports. The fund owned 547,349 shares of the credit services provider’s stock after selling 74,461 shares during the quarter. California Public Employees Retirement System’s holdings in SLM were worth $8,725,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of SLM. Quent Capital LLC increased its holdings in SLM by 77.7% in the 1st quarter. Quent Capital LLC now owns 3,678 shares of the credit services provider’s stock valued at $68,000 after buying an additional 1,608 shares during the period. US Bancorp DE increased its holdings in SLM by 40.9% in the 2nd quarter. US Bancorp DE now owns 5,501 shares of the credit services provider’s stock valued at $88,000 after buying an additional 1,597 shares during the period. Parkside Financial Bank & Trust increased its holdings in SLM by 22.4% in the 1st quarter. Parkside Financial Bank & Trust now owns 6,711 shares of the credit services provider’s stock valued at $123,000 after buying an additional 1,226 shares during the period. Brown Brothers Harriman & Co. increased its holdings in SLM by 1,958.3% in the 1st quarter. Brown Brothers Harriman & Co. now owns 7,204 shares of the credit services provider’s stock valued at $132,000 after buying an additional 6,854 shares during the period. Finally, Captrust Financial Advisors increased its holdings in SLM by 24.1% in the 1st quarter. Captrust Financial Advisors now owns 7,715 shares of the credit services provider’s stock valued at $142,000 after buying an additional 1,498 shares during the period. 98.89% of the stock is owned by institutional investors.

SLM Trading Up 1.8 %

Shares of SLM stock opened at $16.96 on Wednesday. The firm has a market capitalization of $4.24 billion, a PE ratio of 5.52 and a beta of 1.20. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 3.19. The firm’s 50 day moving average is $15.77 and its 200 day moving average is $16.20. SLM Co. has a 1 year low of $13.72 and a 1 year high of $20.88.

SLM (NASDAQ:SLMGet Rating) last posted its earnings results on Wednesday, October 26th. The credit services provider reported $0.29 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.18). SLM had a return on equity of 47.71% and a net margin of 35.01%. The business had revenue of $369.51 million for the quarter, compared to analyst estimates of $347.69 million. During the same quarter in the prior year, the business earned $0.24 earnings per share. Equities research analysts forecast that SLM Co. will post 2.51 earnings per share for the current fiscal year.

SLM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Friday, December 2nd will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Thursday, December 1st. This represents a $0.44 annualized dividend and a yield of 2.59%. SLM’s dividend payout ratio is presently 14.33%.

Analysts Set New Price Targets

Several equities analysts have commented on SLM shares. Credit Suisse Group decreased their target price on shares of SLM to $22.00 in a report on Thursday, October 13th. Compass Point lowered shares of SLM from a “buy” rating to a “neutral” rating and decreased their target price for the company from $20.00 to $18.00 in a report on Thursday, November 10th. Jefferies Financial Group decreased their price target on shares of SLM from $24.00 to $20.00 in a report on Tuesday, October 18th. Citigroup lowered shares of SLM from a “buy” rating to a “neutral” rating and decreased their price target for the company from $18.00 to $17.00 in a report on Thursday, October 13th. Finally, Morgan Stanley began coverage on shares of SLM in a report on Friday, October 7th. They set an “underweight” rating and a $15.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, SLM currently has an average rating of “Hold” and an average target price of $18.89.

About SLM

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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

Want to see what other hedge funds are holding SLM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SLM Co. (NASDAQ:SLMGet Rating).

Institutional Ownership by Quarter for SLM (NASDAQ:SLM)

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