Bank of New York Mellon Corp Lowers Holdings in SLM Co. (NASDAQ:SLM)

Bank of New York Mellon Corp trimmed its position in SLM Co. (NASDAQ:SLM - Free Report) by 6.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,426,840 shares of the credit services provider's stock after selling 157,491 shares during the period. Bank of New York Mellon Corp owned 1.14% of SLM worth $66,932,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in SLM. True Wealth Design LLC purchased a new stake in SLM in the third quarter valued at approximately $31,000. Capital Performance Advisors LLP bought a new position in shares of SLM in the 3rd quarter worth $35,000. Blue Trust Inc. raised its position in shares of SLM by 32.2% during the 4th quarter. Blue Trust Inc. now owns 1,849 shares of the credit services provider's stock valued at $51,000 after buying an additional 450 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of SLM during the 4th quarter worth $86,000. Finally, Covestor Ltd grew its position in SLM by 110.3% in the third quarter. Covestor Ltd now owns 4,404 shares of the credit services provider's stock worth $101,000 after acquiring an additional 2,310 shares in the last quarter. 98.94% of the stock is currently owned by hedge funds and other institutional investors.

SLM Trading Up 0.3 %

SLM traded up $0.08 during midday trading on Friday, reaching $29.08. 1,465,441 shares of the company's stock traded hands, compared to its average volume of 2,761,739. SLM Co. has a 52 week low of $19.39 and a 52 week high of $32.65. The company has a debt-to-equity ratio of 3.37, a current ratio of 1.32 and a quick ratio of 1.27. The firm has a fifty day moving average of $29.04 and a two-hundred day moving average of $25.48. The stock has a market capitalization of $6.12 billion, a price-to-earnings ratio of 10.97, a P/E/G ratio of 0.86 and a beta of 1.22.

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SLM (NASDAQ:SLM - Get Free Report) last announced its earnings results on Thursday, January 23rd. The credit services provider reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $0.56 by ($0.06). SLM had a net margin of 20.73% and a return on equity of 31.66%. On average, equities analysts anticipate that SLM Co. will post 3.07 earnings per share for the current fiscal year.

SLM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Wednesday, March 5th will be given a dividend of $0.13 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.52 annualized dividend and a dividend yield of 1.79%. SLM's dividend payout ratio is presently 19.62%.

Analysts Set New Price Targets

Several brokerages have issued reports on SLM. Royal Bank of Canada lifted their price target on SLM from $30.00 to $32.00 and gave the stock an "outperform" rating in a research note on Friday, January 24th. Compass Point boosted their target price on SLM from $31.00 to $34.00 and gave the stock a "buy" rating in a research report on Friday, January 24th. Barclays upped their target price on SLM from $34.00 to $38.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 18th. Morgan Stanley lifted their price target on shares of SLM from $26.00 to $32.00 and gave the stock an "overweight" rating in a research note on Thursday, December 19th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of SLM from $30.00 to $32.00 and gave the company a "market perform" rating in a research note on Friday, January 24th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $30.91.

Insider Buying and Selling

In related news, Director Robert S. Strong sold 40,000 shares of the business's stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $28.57, for a total transaction of $1,142,800.00. Following the sale, the director now owns 43,163 shares of the company's stock, valued at $1,233,166.91. The trade was a 48.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.20% of the stock is owned by 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.