Discovery Capital Management LLC CT Takes $5.78 Million Position in SLM Co. (NASDAQ:SLM)

Discovery Capital Management LLC CT purchased a new position in SLM Co. (NASDAQ:SLM - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 209,400 shares of the credit services provider's stock, valued at approximately $5,775,000. Discovery Capital Management LLC CT owned about 0.10% of SLM at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Private Trust Co. NA boosted its holdings in SLM by 86.4% in the fourth quarter. Private Trust Co. NA now owns 971 shares of the credit services provider's stock worth $27,000 after purchasing an additional 450 shares during the period. True Wealth Design LLC acquired a new stake in SLM during the third quarter worth about $31,000. Blue Trust Inc. boosted its stake in SLM by 32.2% in the fourth quarter. Blue Trust Inc. now owns 1,849 shares of the credit services provider's stock valued at $51,000 after acquiring an additional 450 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of SLM during the 4th quarter worth approximately $86,000. Finally, Plato Investment Management Ltd bought a new stake in shares of SLM in the 4th quarter worth approximately $114,000. 98.94% of the stock is owned by institutional investors and hedge funds.

SLM Price Performance

Shares of NASDAQ SLM traded down $1.83 during trading on Friday, hitting $25.54. The company had a trading volume of 3,955,907 shares, compared to its average volume of 2,114,086. SLM Co. has a 52 week low of $19.39 and a 52 week high of $32.65. The business's 50-day moving average is $29.56 and its 200 day moving average is $26.67. The company has a market cap of $5.37 billion, a P/E ratio of 9.64, a PEG 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 - Get Free Report) last released 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 net margin of 20.73% and a return on equity of 31.66%. Equities research analysts predict that SLM Co. will post 3.07 earnings per share for the current fiscal year.

SLM Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Wednesday, March 5th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.04%. The ex-dividend date was Wednesday, March 5th. SLM's dividend payout ratio is 19.62%.

Insider Activity

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 value of $1,142,800.00. Following the transaction, the director now directly owns 43,163 shares of the company's stock, valued at approximately $1,233,166.91. This trade represents a 48.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SLM shares. Royal Bank of Canada boosted their price target on shares of SLM from $30.00 to $32.00 and gave the company an "outperform" rating in a report on Friday, January 24th. Wells Fargo & Company raised their price target on shares of SLM from $32.00 to $33.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. Keefe, Bruyette & Woods boosted their price objective on SLM from $30.00 to $32.00 and gave the stock a "market perform" rating in a research report on Friday, January 24th. Compass Point raised their target price on SLM from $31.00 to $34.00 and gave the company a "buy" rating in a research report on Friday, January 24th. Finally, JPMorgan Chase & Co. boosted their price target on SLM from $29.00 to $30.00 and gave the stock a "neutral" rating in a research report 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 MarketBeat, SLM presently has an average rating of "Moderate Buy" and an average price target of $31.45.

About SLM

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.