State Treasurer State of Michigan lowered its position in SLM Corp (NASDAQ:SLM) by 4.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 155,225 shares of the credit services provider’s stock after selling 7,100 shares during the quarter. State Treasurer State of Michigan’s holdings in SLM were worth $1,754,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of SLM. Aperio Group LLC lifted its stake in SLM by 3.9% in the third quarter. Aperio Group LLC now owns 188,045 shares of the credit services provider’s stock valued at $2,157,000 after buying an additional 7,129 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new stake in SLM in the third quarter valued at approximately $666,000. Canada Pension Plan Investment Board purchased a new stake in SLM in the third quarter valued at approximately $1,248,000. Rhumbline Advisers lifted its stake in SLM by 16.9% in the third quarter. Rhumbline Advisers now owns 909,428 shares of the credit services provider’s stock valued at $10,431,000 after buying an additional 131,348 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in SLM by 26.0% in the third quarter. SG Americas Securities LLC now owns 170,874 shares of the credit services provider’s stock valued at $1,960,000 after buying an additional 35,305 shares during the last quarter. Institutional investors own 98.87% of the company’s stock.
SLM has been the subject of a number of research reports. Citigroup initiated coverage on SLM in a research note on Monday, January 8th. They issued an “outperform” rating and a $17.00 price objective for the company. BidaskClub cut SLM from a “sell” rating to a “strong sell” rating in a research note on Thursday, November 2nd. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $16.00 price objective on shares of SLM in a research note on Friday, December 22nd. Oppenheimer initiated coverage on SLM in a research note on Monday, January 8th. They issued an “outperform” rating and a $17.00 price objective for the company. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $15.00 price objective on shares of SLM in a research note on Thursday, January 4th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $14.18.
Shares of SLM Corp (SLM) opened at $10.91 on Wednesday. SLM Corp has a 52 week low of $9.65 and a 52 week high of $13.20. The company has a current ratio of 1.37, a quick ratio of 1.33 and a debt-to-equity ratio of 1.58. The company has a market capitalization of $4,729.19, a P/E ratio of 15.00, a PEG ratio of 0.52 and a beta of 1.34.
SLM (NASDAQ:SLM) last released its quarterly earnings results on Wednesday, January 17th. The credit services provider reported $0.19 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.19. SLM had a return on equity of 16.65% and a net margin of 20.23%. The business had revenue of $309.19 million during the quarter, compared to analysts’ expectations of $299.64 million. During the same quarter in the prior year, the business earned $0.15 earnings per share. research analysts forecast that SLM Corp will post 0.99 EPS for the current fiscal year.
In other SLM news, CFO Steven Mcgarry sold 13,836 shares of the stock in a transaction on Friday, January 26th. The stock was sold at an average price of $11.62, for a total value of $160,774.32. Following the completion of the transaction, the chief financial officer now owns 366,433 shares in the company, valued at $4,257,951.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Raymond J. Quinlan sold 200,000 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $11.52, for a total value of $2,304,000.00. Following the completion of the transaction, the chief executive officer now owns 1,080,133 shares of the company’s stock, valued at approximately $12,443,132.16. The disclosure for this sale can be found here. Insiders have sold 375,323 shares of company stock valued at $4,317,997 in the last 90 days. Company insiders own 0.59% of the company’s stock.
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SLM Company Profile
SLM Corporation (Sallie Mae) is the nation’s saving, planning, and paying for college company. Sallie Mae offers products, which promote personal finance including private education loans, Upromise rewards, scholarship search, college financial planning tools, insurance, and online retail banking.
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