Envestnet Asset Management Inc. Sells 3,835 Shares of SLM Co. (NASDAQ:SLM)

Envestnet Asset Management Inc. decreased its position in SLM Co. (NASDAQ:SLM) by 2.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 166,751 shares of the credit services provider’s stock after selling 3,835 shares during the period. Envestnet Asset Management Inc. owned about 0.08% of SLM worth $4,599,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of SLM. Amundi grew its stake in shares of SLM by 103.4% during the 4th quarter. Amundi now owns 135,014 shares of the credit services provider’s stock worth $3,712,000 after acquiring an additional 68,632 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in SLM by 9.2% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 223,692 shares of the credit services provider’s stock valued at $6,169,000 after purchasing an additional 18,754 shares during the last quarter. Boston Partners boosted its position in SLM by 3.9% during the fourth quarter. Boston Partners now owns 12,246,797 shares of the credit services provider’s stock worth $338,889,000 after purchasing an additional 456,415 shares during the period. Discovery Capital Management LLC CT purchased a new position in shares of SLM in the fourth quarter worth about $5,775,000. Finally, Franklin Resources Inc. raised its position in shares of SLM by 35.3% in the third quarter. Franklin Resources Inc. now owns 415,607 shares of the credit services provider’s stock valued at $9,596,000 after purchasing an additional 108,463 shares during the period. 98.94% of the stock is owned by hedge funds and other institutional investors.

SLM Stock Performance

NASDAQ SLM opened at $26.71 on Wednesday. SLM Co. has a 52-week low of $19.39 and a 52-week high of $32.65. The company has a fifty day moving average of $28.72 and a 200-day moving average of $27.06. The company has a market capitalization of $5.62 billion, a P/E ratio of 10.08, a P/E/G ratio of 0.86 and a beta of 1.05. The company has a debt-to-equity ratio of 3.37, a quick ratio of 1.27 and a current ratio of 1.32.

SLM (NASDAQ:SLM) last issued its quarterly earnings results on Thursday, January 23rd. The credit services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.06). SLM had a return on equity of 31.66% and a net margin of 20.73%. As a group, equities research analysts predict that SLM Co. will post 3.07 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on SLM. Morgan Stanley raised their price objective on shares of SLM from $32.00 to $38.00 and gave the stock an “overweight” rating in a report on Monday, March 10th. Keefe, Bruyette & Woods boosted their price objective on SLM from $30.00 to $32.00 and gave the company a “market perform” rating in a research note on Friday, January 24th. JPMorgan Chase & Co. cut their target price on SLM from $30.00 to $27.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Royal Bank of Canada upped their price target on SLM from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Friday, January 24th. Finally, Barclays raised their price objective on shares of SLM from $34.00 to $38.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $31.18.

Insider Transactions at SLM

In related news, Director Robert S. Strong sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $28.57, for a total transaction of $1,142,800.00. Following the transaction, the director now directly owns 43,163 shares in the company, valued at $1,233,166.91. This trade represents a 48.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.20% of the company’s stock.

SLM Company 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.