Edgestream Partners L.P. Decreases Stake in SLM Co. (NASDAQ:SLM)

Edgestream Partners L.P. trimmed its position in shares of SLM Co. (NASDAQ:SLM - Free Report) by 32.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 95,363 shares of the credit services provider's stock after selling 46,759 shares during the quarter. Edgestream Partners L.P.'s holdings in SLM were worth $2,630,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Blue Trust Inc. lifted its position in shares of SLM by 32.2% during the fourth 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 during the last quarter. Private Trust Co. NA lifted its position in shares of SLM by 86.4% during the fourth quarter. Private Trust Co. NA now owns 971 shares of the credit services provider's stock valued at $27,000 after buying an additional 450 shares during the last quarter. Empowered Funds LLC lifted its position in shares of SLM by 4.8% during the third quarter. Empowered Funds LLC now owns 11,594 shares of the credit services provider's stock valued at $265,000 after buying an additional 526 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of SLM by 1.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 33,825 shares of the credit services provider's stock valued at $933,000 after buying an additional 552 shares during the last quarter. Finally, Truist Financial Corp lifted its position in shares of SLM by 11.9% during the fourth quarter. Truist Financial Corp now owns 9,052 shares of the credit services provider's stock valued at $250,000 after buying an additional 960 shares during the last quarter. 98.94% of the stock is owned by hedge funds and other institutional investors.

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Insider Transactions at SLM

In related news, Director Robert S. Strong sold 40,000 shares of SLM stock in a transaction on 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.20% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of SLM from $29.00 to $30.00 and gave the company a "neutral" rating in a research report on Friday, January 24th. Morgan Stanley increased their price objective on shares of SLM from $32.00 to $38.00 and gave the company an "overweight" rating in a research report on Monday. Barclays increased 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. Compass Point increased their price objective on shares of SLM from $31.00 to $34.00 and gave the company a "buy" rating in a research report on Friday, January 24th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of SLM from $30.00 to $32.00 and gave the company a "market perform" rating in a research report on Friday, January 24th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $31.45.

SLM Stock Performance

Shares of NASDAQ SLM traded up $0.34 during midday trading on Wednesday, reaching $28.79. 3,381,093 shares of the stock were exchanged, compared to its average volume of 2,830,455. The firm has a market cap of $6.06 billion, a price-to-earnings ratio of 10.86, a PEG ratio of 0.86 and a beta of 1.23. SLM Co. has a twelve month low of $19.39 and a twelve month high of $32.65. The firm has a 50-day simple moving average of $29.16 and a two-hundred day simple moving average of $25.75. The company has a quick ratio of 1.27, a current ratio of 1.32 and a debt-to-equity ratio of 3.37.

SLM (NASDAQ:SLM - Get Free Report) last issued its quarterly earnings data 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 return on equity of 31.66% and a net margin of 20.73%. As a group, analysts anticipate that SLM Co. will post 3.07 EPS for the current fiscal year.

SLM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.81%. SLM's payout ratio is 19.62%.

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.