KLP Kapitalforvaltning AS Acquires Shares of 58,400 SLM Co. (NASDAQ:SLM)

KLP Kapitalforvaltning AS purchased a new position in shares of SLM Co. (NASDAQ:SLM - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 58,400 shares of the credit services provider's stock, valued at approximately $1,611,000.

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

Insider Activity

In other 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 transaction, the director now directly owns 43,163 shares of the company's stock, valued at $1,233,166.91. The trade was a 48.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.20% of the company's stock.

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SLM Stock Up 1.8 %

SLM stock traded up $0.52 during trading on Wednesday, hitting $30.14. 2,047,655 shares of the company's stock were exchanged, compared to its average volume of 2,092,291. The business has a 50-day moving average price of $29.66 and a two-hundred day moving average price of $26.64. The company has a current ratio of 1.32, a quick ratio of 1.27 and a debt-to-equity ratio of 3.37. The stock has a market capitalization of $6.34 billion, a price-to-earnings ratio of 11.37, a PEG ratio of 0.86 and a beta of 1.05. SLM Co. has a 52-week low of $19.39 and a 52-week high of $32.65.

SLM (NASDAQ:SLM - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The credit services provider reported $0.50 earnings per share 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 expect that SLM Co. will post 3.07 EPS for the current year.

SLM Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend was Wednesday, March 5th. SLM's dividend payout ratio (DPR) is currently 19.62%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Barclays boosted their price target on shares of SLM from $34.00 to $38.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 18th. Compass Point increased their target price on shares of SLM from $31.00 to $34.00 and gave the stock a "buy" rating in a report on Friday, January 24th. Royal Bank of Canada boosted their price target on shares of SLM from $30.00 to $32.00 and gave the stock an "outperform" rating in a research note on Friday, January 24th. Wells Fargo & Company increased their price objective on SLM from $32.00 to $33.00 and gave the company an "overweight" rating in a research note on Friday, January 24th. Finally, Morgan Stanley boosted their target price on SLM from $32.00 to $38.00 and gave the stock an "overweight" rating in a research note on Monday, March 10th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, SLM 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.