Envestnet Asset Management Inc. Sells 2,737 Shares of SLM Co. (NASDAQ:SLM)

Envestnet Asset Management Inc. lessened its stake in shares of SLM Co. (NASDAQ:SLM – Get Rating) by 0.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 514,863 shares of the credit services provider’s stock after selling 2,737 shares during the period. Envestnet Asset Management Inc. owned 0.21% of SLM worth $7,203,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Wipfli Financial Advisors LLC acquired a new stake in shares of SLM during the third quarter worth $66,000. US Bancorp DE raised its holdings in shares of SLM by 40.9% during the second quarter. US Bancorp DE now owns 5,501 shares of the credit services provider’s stock worth $88,000 after purchasing an additional 1,597 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in SLM by 22.4% in the first quarter. Parkside Financial Bank & Trust now owns 6,711 shares of the credit services provider’s stock valued at $123,000 after buying an additional 1,226 shares in the last quarter. Brown Brothers Harriman & Co. increased its holdings in SLM by 1,958.3% in the first quarter. Brown Brothers Harriman & Co. now owns 7,204 shares of the credit services provider’s stock valued at $132,000 after buying an additional 6,854 shares in the last quarter. Finally, Captrust Financial Advisors increased its holdings in SLM by 24.1% in the first quarter. Captrust Financial Advisors now owns 7,715 shares of the credit services provider’s stock valued at $142,000 after buying an additional 1,498 shares in the last quarter. 96.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SLM shares. Barclays cut their price objective on shares of SLM from $22.00 to $20.00 and set an “overweight” rating for the company in a report on Friday, February 3rd. BMO Capital Markets dropped their target price on shares of SLM from $19.00 to $17.00 and set a “market perform” rating on the stock in a research report on Monday, February 6th. Citigroup dropped their target price on shares of SLM from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Friday, February 3rd. Compass Point lowered shares of SLM from a “buy” rating to a “neutral” rating and dropped their target price for the company from $20.00 to $18.00 in a research report on Thursday, November 10th. Finally, Morgan Stanley dropped their target price on shares of SLM from $15.00 to $14.00 and set an “underweight” rating on the stock in a research report on Friday, February 3rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, SLM currently has an average rating of “Hold” and an average target price of $17.92.

SLM Trading Down 1.7 %

NASDAQ SLM opened at $14.13 on Thursday. The company has a debt-to-equity ratio of 3.55, a current ratio of 1.22 and a quick ratio of 1.21. The firm’s fifty day moving average price is $16.05 and its 200 day moving average price is $15.94. The company has a market capitalization of $3.41 billion, a price-to-earnings ratio of 8.31 and a beta of 1.19. SLM Co. has a 12 month low of $13.72 and a 12 month high of $20.17.

SLM (NASDAQ:SLM – Get Rating) last posted its earnings results on Thursday, February 2nd. The credit services provider reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.79). The company had revenue of $542.96 million during the quarter, compared to analysts’ expectations of $358.11 million. SLM had a net margin of 19.82% and a return on equity of 27.83%. During the same period last year, the business earned $1.05 earnings per share. On average, sell-side analysts expect that SLM Co. will post 2.38 earnings per share for the current fiscal year.

SLM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Friday, March 3rd will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend is Thursday, March 2nd. SLM’s dividend payout ratio is currently 25.88%.

SLM Profile

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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.