Citigroup Inc. reduced its stake in SLM Co. (NASDAQ:SLM – Get Rating) by 29.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,893 shares of the credit services provider’s stock after selling 29,911 shares during the period. Citigroup Inc.’s holdings in SLM were worth $1,193,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its position in shares of SLM by 0.6% during the third quarter. Vanguard Group Inc. now owns 30,551,727 shares of the credit services provider’s stock worth $427,418,000 after purchasing an additional 177,312 shares in the last quarter. Impactive Capital LP raised its stake in SLM by 10.1% during the 3rd quarter. Impactive Capital LP now owns 22,593,389 shares of the credit services provider’s stock valued at $316,082,000 after acquiring an additional 2,080,790 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of SLM by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,541,444 shares of the credit services provider’s stock valued at $101,733,000 after purchasing an additional 45,321 shares during the last quarter. Capital World Investors increased its holdings in shares of SLM by 53.0% in the first quarter. Capital World Investors now owns 4,530,000 shares of the credit services provider’s stock valued at $83,171,000 after purchasing an additional 1,570,000 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its holdings in shares of SLM by 55.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,908,379 shares of the credit services provider’s stock valued at $40,688,000 after purchasing an additional 1,037,901 shares during the period. 96.65% of the stock is currently owned by institutional investors and hedge funds.
SLM Stock Performance
SLM stock opened at $16.01 on Tuesday. The stock’s 50-day moving average is $14.04 and its 200-day moving average is $15.23. The company has a market cap of $3.88 billion, a price-to-earnings ratio of 9.31 and a beta of 1.21. The company has a debt-to-equity ratio of 3.50, a current ratio of 1.23 and a quick ratio of 1.22. SLM Co. has a 12 month low of $10.81 and a 12 month high of $20.17.
SLM (NASDAQ:SLM – Get Rating) last released its quarterly earnings data on Thursday, April 27th. The credit services provider reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.12. The company had revenue of $405.00 million for the quarter, compared to the consensus estimate of $372.98 million. SLM had a return on equity of 28.19% and a net margin of 18.07%. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period last year, the business posted $0.46 EPS. Equities analysts anticipate that SLM Co. will post 2.6 earnings per share for the current year.
SLM Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Friday, June 2nd will be paid a $0.11 dividend. The ex-dividend date is Thursday, June 1st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.75%. SLM’s dividend payout ratio (DPR) is currently 25.58%.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on the company. Citigroup dropped their target price on SLM from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Friday, February 3rd. Credit Suisse Group dropped their target price on SLM from $22.00 to $20.00 and set an “outperform” rating on the stock in a report on Friday, February 3rd. TheStreet raised SLM from a “c+” rating to a “b” rating in a report on Thursday, April 27th. Wells Fargo & Company lowered SLM from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $19.00 to $16.00 in a report on Friday, February 3rd. Finally, BMO Capital Markets dropped their price objective on SLM from $19.00 to $17.00 and set a “market perform” rating on the stock in a report on Monday, February 6th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.92.
SLM Company Profile
SLM Corp. engages in the provision and administration of education loans. Its services include private education loans, banking, college savings, and insurance services. The company was founded in 1972 and is headquartered in Newark, DE.
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