Mutual of America Capital Management LLC Cuts Stock Position in SLM Co. (NASDAQ:SLM)

Mutual of America Capital Management LLC lowered its holdings in SLM Co. (NASDAQ:SLM) by 4.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 140,359 shares of the credit services provider’s stock after selling 7,143 shares during the period. Mutual of America Capital Management LLC owned about 0.06% of SLM worth $2,684,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of SLM. Blue Trust Inc. boosted its position in SLM by 81.4% in the fourth quarter. Blue Trust Inc. now owns 1,328 shares of the credit services provider’s stock worth $25,000 after purchasing an additional 596 shares during the last quarter. International Assets Investment Management LLC purchased a new position in SLM in the third quarter worth $39,000. Industrial Alliance Investment Management Inc. boosted its position in SLM by 257.3% in the fourth quarter. Industrial Alliance Investment Management Inc. now owns 2,805 shares of the credit services provider’s stock worth $47,000 after purchasing an additional 2,020 shares during the last quarter. CWM LLC boosted its position in SLM by 51.9% in the third quarter. CWM LLC now owns 5,632 shares of the credit services provider’s stock worth $77,000 after purchasing an additional 1,925 shares during the last quarter. Finally, State of Wyoming purchased a new position in SLM in the second quarter worth $112,000. Hedge funds and other institutional investors own 98.94% of the company’s stock.

SLM Stock Performance

NASDAQ:SLM opened at $20.78 on Friday. The company has a debt-to-equity ratio of 3.21, a quick ratio of 1.22 and a current ratio of 1.22. SLM Co. has a 52-week low of $12.26 and a 52-week high of $21.94. The firm has a market cap of $4.58 billion, a price-to-earnings ratio of 8.66, a PEG ratio of 0.42 and a beta of 1.16. The business’s fifty day moving average is $20.73 and its 200 day moving average is $17.88.

SLM (NASDAQ:SLM) last released its quarterly earnings data on Tuesday, January 30th. The credit services provider reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.15). The company had revenue of $725.66 million for the quarter, compared to the consensus estimate of $379.20 million. SLM had a net margin of 20.65% and a return on equity of 36.86%. During the same quarter in the previous year, the firm posted ($0.33) earnings per share. Research analysts predict that SLM Co. will post 2.72 EPS for the current year.

SLM Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, March 4th were paid a $0.11 dividend. The ex-dividend date was Friday, March 1st. This represents a $0.44 dividend on an annualized basis and a yield of 2.12%. SLM’s dividend payout ratio is currently 18.33%.

SLM declared that its Board of Directors has approved a stock repurchase plan on Wednesday, January 24th that permits the company to buyback $650.00 million in outstanding shares. This buyback authorization permits the credit services provider to repurchase up to 14.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Citigroup raised SLM from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $14.00 to $23.00 in a research report on Tuesday, January 16th. TheStreet raised SLM from a “c+” rating to a “b” rating in a research report on Wednesday, January 24th. Wells Fargo & Company upped their price target on SLM from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft began coverage on SLM in a research report on Wednesday, January 10th. They set a “buy” rating and a $25.00 price target on the stock. Finally, JPMorgan Chase & Co. upped their price target on SLM from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, April 3rd. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.32.

Insiders Place Their Bets

In other SLM news, EVP Donna F. Vieira sold 12,308 shares of the company’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $20.27, for a total value of $249,483.16. Following the transaction, the executive vice president now directly owns 126,500 shares in the company, valued at approximately $2,564,155. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other SLM news, SVP Jonathan Boyles sold 94,078 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $20.72, for a total value of $1,949,296.16. Following the transaction, the senior vice president now directly owns 52,751 shares in the company, valued at approximately $1,093,000.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Donna F. Vieira sold 12,308 shares of the company’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $20.27, for a total value of $249,483.16. Following the completion of the transaction, the executive vice president now owns 126,500 shares in the company, valued at $2,564,155. The disclosure for this sale can be found here. Corporate insiders own 0.91% of the company’s stock.

About SLM

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.