Corebridge Financial Inc. Sells 16,899 Shares of SLM Co. (NASDAQ:SLM)

Corebridge Financial Inc. lessened its holdings in shares of SLM Co. (NASDAQ:SLM - Free Report) by 6.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 240,247 shares of the credit services provider's stock after selling 16,899 shares during the period. Corebridge Financial Inc. owned 0.11% of SLM worth $6,626,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SLM. Boston Partners boosted its holdings in SLM by 3.9% in the fourth quarter. Boston Partners now owns 12,246,797 shares of the credit services provider's stock worth $338,889,000 after acquiring an additional 456,415 shares in the last quarter. State Street Corp raised its holdings in SLM by 0.6% in the third quarter. State Street Corp now owns 6,923,576 shares of the credit services provider's stock worth $158,342,000 after buying an additional 43,927 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of SLM by 7.0% in the fourth quarter. American Century Companies Inc. now owns 5,175,645 shares of the credit services provider's stock worth $142,744,000 after buying an additional 338,128 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of SLM by 7.5% in the third quarter. Geode Capital Management LLC now owns 4,762,328 shares of the credit services provider's stock worth $108,936,000 after buying an additional 331,490 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of SLM by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,758,057 shares of the credit services provider's stock valued at $40,207,000 after acquiring an additional 15,252 shares in the last quarter. 98.94% of the stock is owned by hedge funds and other institutional investors.

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SLM Stock Performance

Shares of SLM stock traded down $0.14 during trading hours on Tuesday, reaching $29.23. 820,589 shares of the company traded hands, compared to its average volume of 2,083,387. The firm has a 50-day moving average price of $29.62 and a 200 day moving average price of $26.55. The company has a market cap of $6.15 billion, a P/E ratio of 11.05, a P/E/G ratio of 0.86 and a beta of 1.23. SLM Co. has a 12-month low of $19.39 and a 12-month 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.

SLM (NASDAQ:SLM - Get Free Report) last announced its quarterly earnings data on Thursday, January 23rd. The credit services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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, sell-side analysts predict that SLM Co. will post 3.07 earnings per share for the current fiscal year.

SLM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Wednesday, March 5th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend was Wednesday, March 5th. SLM's dividend payout ratio (DPR) is 19.62%.

Insider Buying and Selling at SLM

In other 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 value of $1,142,800.00. Following the sale, the director now directly owns 43,163 shares in the company, valued at $1,233,166.91. The trade was a 48.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on SLM shares. Compass Point lifted their price objective on SLM from $31.00 to $34.00 and gave the stock a "buy" rating in a report on Friday, January 24th. Morgan Stanley boosted their price objective on shares of SLM from $32.00 to $38.00 and gave the company an "overweight" rating in a report on Monday, March 10th. Keefe, Bruyette & Woods raised their target price on shares of SLM from $30.00 to $32.00 and gave the stock a "market perform" rating in a report on Friday, January 24th. JPMorgan Chase & Co. increased their price target on SLM from $29.00 to $30.00 and gave the company a "neutral" rating in a report on Friday, January 24th. Finally, Royal Bank of Canada lifted their price objective on SLM from $30.00 to $32.00 and gave the stock an "outperform" rating in a report on Friday, January 24th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $31.45.

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.