SLM Co. (NASDAQ:SLM) Shares Sold by Goldentree Asset Management LP

Goldentree Asset Management LP lessened its holdings in shares of SLM Co. (NASDAQ:SLM) by 10.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,578,283 shares of the credit services provider’s stock after selling 190,988 shares during the period. SLM accounts for approximately 2.9% of Goldentree Asset Management LP’s investment portfolio, making the stock its 12th biggest position. Goldentree Asset Management LP’s holdings in SLM were worth $36,021,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Waldron Private Wealth LLC acquired a new position in shares of SLM during the 3rd quarter valued at about $31,000. Blue Trust Inc. boosted its holdings in SLM by 358.7% in the 3rd quarter. Blue Trust Inc. now owns 1,399 shares of the credit services provider’s stock valued at $32,000 after purchasing an additional 1,094 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of SLM in the 3rd quarter valued at approximately $35,000. International Assets Investment Management LLC acquired a new stake in shares of SLM during the 2nd quarter worth approximately $60,000. Finally, Covestor Ltd raised its position in shares of SLM by 110.3% during the 3rd quarter. Covestor Ltd now owns 4,404 shares of the credit services provider’s stock valued at $101,000 after buying an additional 2,310 shares during the period. Hedge funds and other institutional investors own 98.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on SLM shares. JPMorgan Chase & Co. lowered their price objective on SLM from $25.00 to $24.00 and set a “neutral” rating for the company in a research report on Monday, October 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $26.00 price target on shares of SLM in a report on Thursday, October 24th. Barclays reduced their price objective on shares of SLM from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Bank of America began coverage on shares of SLM in a research note on Wednesday, September 25th. They set a “buy” rating and a $27.00 target price for the company. Finally, Wedbush reissued an “outperform” rating and issued a $26.00 price target on shares of SLM in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $25.45.

SLM Trading Down 0.8 %

Shares of SLM stock opened at $27.20 on Friday. SLM Co. has a fifty-two week low of $14.03 and a fifty-two week high of $28.22. The company has a 50 day moving average price of $23.25 and a 200 day moving average price of $21.92. The stock has a market capitalization of $5.78 billion, a P/E ratio of 9.48, a price-to-earnings-growth ratio of 1.15 and a beta of 1.16. The company has a debt-to-equity ratio of 3.21, a quick ratio of 1.27 and a current ratio of 1.29.

SLM (NASDAQ:SLM) last posted its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.30). The business had revenue of $652.64 million during the quarter, compared to analyst estimates of $363.40 million. SLM had a return on equity of 35.92% and a net margin of 22.18%. During the same quarter last year, the firm earned $0.11 EPS. Equities research analysts predict that SLM Co. will post 2.73 EPS for the current fiscal year.

SLM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, December 5th will be given a $0.13 dividend. The ex-dividend date is Thursday, December 5th. This represents a $0.52 dividend on an annualized basis and a yield of 1.91%. This is a positive change from SLM’s previous quarterly dividend of $0.11. SLM’s dividend payout ratio (DPR) is currently 15.33%.

SLM Profile

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.