New York State Teachers Retirement System Has $5.62 Million Holdings in SLM Co. (NASDAQ:SLM)

New York State Teachers Retirement System lessened its holdings in SLM Co. (NASDAQ:SLMGet Rating) by 2.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 402,027 shares of the credit services provider’s stock after selling 10,458 shares during the period. New York State Teachers Retirement System owned 0.16% of SLM worth $5,624,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Wipfli Financial Advisors LLC acquired a new position in SLM during the 3rd quarter worth $66,000. US Bancorp DE lifted its position in SLM by 40.9% during the 2nd quarter. US Bancorp DE now owns 5,501 shares of the credit services provider’s stock worth $88,000 after acquiring an additional 1,597 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in SLM by 22.4% during the 1st quarter. Parkside Financial Bank & Trust now owns 6,711 shares of the credit services provider’s stock worth $123,000 after acquiring an additional 1,226 shares during the last quarter. Brown Brothers Harriman & Co. lifted its position in SLM by 1,958.3% during the 1st quarter. Brown Brothers Harriman & Co. now owns 7,204 shares of the credit services provider’s stock worth $132,000 after acquiring an additional 6,854 shares during the last quarter. Finally, Captrust Financial Advisors lifted its position in SLM by 24.1% during the 1st quarter. Captrust Financial Advisors now owns 7,715 shares of the credit services provider’s stock worth $142,000 after acquiring an additional 1,498 shares during the last quarter. Institutional investors and hedge funds own 96.65% of the company’s stock.

Wall Street Analysts Forecast Growth

SLM has been the subject of a number of research analyst reports. StockNews.com initiated coverage on shares of SLM in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Compass Point downgraded shares of SLM from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $20.00 to $18.00 in a report on Thursday, November 10th. JPMorgan Chase & Co. boosted their price objective on shares of SLM from $17.00 to $18.00 in a report on Tuesday, January 10th. Citigroup downgraded shares of SLM from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $18.00 to $17.00 in a report on Thursday, October 13th. Finally, Jefferies Financial Group dropped their price objective on shares of SLM from $24.00 to $20.00 in a report on Tuesday, October 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $18.80.

SLM Stock Performance

NASDAQ SLM opened at $17.28 on Friday. The stock has a market cap of $4.32 billion, a P/E ratio of 5.63 and a beta of 1.18. The company’s 50-day simple moving average is $16.79 and its 200 day simple moving average is $16.01. SLM Co. has a twelve month low of $13.72 and a twelve month high of $20.80. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 3.19.

SLM (NASDAQ:SLMGet Rating) last posted its earnings results on Wednesday, October 26th. The credit services provider reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.18). The business had revenue of $369.51 million during the quarter, compared to the consensus estimate of $347.69 million. SLM had a net margin of 35.01% and a return on equity of 47.71%. During the same period in the previous year, the firm earned $0.24 EPS. As a group, research analysts forecast that SLM Co. will post 2.5 earnings per share for the current fiscal year.

SLM Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Friday, December 2nd were given a $0.11 dividend. The ex-dividend date of this dividend was Thursday, December 1st. This represents a $0.44 dividend on an annualized basis and a yield of 2.55%. SLM’s dividend payout ratio (DPR) is presently 14.33%.

SLM Profile

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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

Institutional Ownership by Quarter for SLM (NASDAQ:SLM)

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