State of Alaska Department of Revenue Sells 2,595 Shares of SLM Co. (NASDAQ:SLM)

State of Alaska Department of Revenue lessened its stake in SLM Co. (NASDAQ:SLM) by 9.6% in the fourth quarter, Holdings Channel reports. The firm owned 24,462 shares of the credit services provider’s stock after selling 2,595 shares during the quarter. State of Alaska Department of Revenue’s holdings in SLM were worth $467,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Blue Trust Inc. raised its position in SLM by 81.4% during the fourth quarter. Blue Trust Inc. now owns 1,328 shares of the credit services provider’s stock valued at $25,000 after purchasing an additional 596 shares in the last quarter. Vest Financial LLC bought a new stake in shares of SLM during the 4th quarter worth $249,000. Wellington Management Group LLP boosted its stake in SLM by 20.8% in the third quarter. Wellington Management Group LLP now owns 267,384 shares of the credit services provider’s stock valued at $3,642,000 after buying an additional 46,032 shares in the last quarter. American Century Companies Inc. boosted its stake in SLM by 8.9% in the third quarter. American Century Companies Inc. now owns 2,570,065 shares of the credit services provider’s stock valued at $35,004,000 after buying an additional 209,632 shares in the last quarter. Finally, Toroso Investments LLC bought a new position in SLM in the third quarter valued at about $1,335,000. 98.94% of the stock is currently owned by institutional investors and hedge funds.

SLM Trading Down 1.6 %

NASDAQ SLM opened at $20.67 on Friday. The firm has a market capitalization of $4.55 billion, a PE ratio of 8.61, a price-to-earnings-growth ratio of 0.43 and a beta of 1.16. The business’s 50-day moving average price is $20.62 and its two-hundred day moving average price is $17.68. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 3.21. SLM Co. has a 12 month low of $12.26 and a 12 month high of $21.94.

SLM (NASDAQ:SLM) last announced its earnings results on Tuesday, January 30th. The credit services provider reported $0.72 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.15). SLM had a net margin of 20.65% and a return on equity of 36.86%. The company had revenue of $725.66 million during the quarter, compared to the consensus estimate of $379.20 million. During the same quarter in the previous year, the company earned ($0.33) earnings per share. On average, analysts expect that SLM Co. will post 2.69 EPS for the current year.

SLM Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, March 4th were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend was Friday, March 1st. SLM’s dividend payout ratio is presently 18.33%.

SLM declared that its board has initiated a share buyback program on Wednesday, January 24th that authorizes the company to buyback $650.00 million in outstanding shares. This buyback authorization authorizes the credit services provider to reacquire up to 14.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SLM shares. TheStreet upgraded shares of SLM from a “c+” rating to a “b” rating in a research note on Wednesday, January 24th. JPMorgan Chase & Co. raised their target price on shares of SLM from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, April 3rd. Deutsche Bank Aktiengesellschaft began coverage on shares of SLM in a report on Wednesday, January 10th. They set a “buy” rating and a $25.00 price target for the company. Citigroup raised SLM from a “neutral” rating to a “buy” rating and raised their price objective for the company from $14.00 to $23.00 in a report on Tuesday, January 16th. Finally, Royal Bank of Canada upped their target price on SLM from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, SLM has an average rating of “Moderate Buy” and an average price target of $19.95.

Insider Activity at SLM

In other news, SVP Jonathan Boyles sold 94,078 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $20.72, for a total value of $1,949,296.16. Following the transaction, the senior vice president now directly owns 52,751 shares of the company’s stock, valued at approximately $1,093,000.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Donna F. Vieira sold 12,308 shares of SLM stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $20.27, for a total value of $249,483.16. Following the completion of the sale, the executive vice president now owns 126,500 shares in the company, valued at approximately $2,564,155. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jonathan Boyles sold 94,078 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $20.72, for a total transaction of $1,949,296.16. Following the transaction, the senior vice president now directly owns 52,751 shares in the company, valued at $1,093,000.72. The disclosure for this sale can be found here. 0.91% of the stock is owned by company insiders.

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.