Massachusetts Financial Services Co. MA reduced its stake in SLM Co. (NASDAQ:SLM - Free Report) by 6.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 10,123,065 shares of the credit services provider's stock after selling 714,277 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 4.77% of SLM worth $279,194,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC bought a new position in SLM in the fourth quarter worth $140,442,000. Norges Bank bought a new stake in shares of SLM during the fourth quarter worth $68,603,000. Pertento Partners LLP acquired a new stake in SLM in the fourth quarter worth about $48,451,000. Wellington Management Group LLP raised its holdings in SLM by 470.6% during the 4th quarter. Wellington Management Group LLP now owns 1,126,756 shares of the credit services provider's stock worth $31,076,000 after purchasing an additional 929,292 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of SLM during the 4th quarter worth approximately $20,603,000. Institutional investors own 98.94% of the company's stock.
SLM Price Performance
Shares of SLM stock traded up $2.41 during trading on Wednesday, reaching $27.25. 3,606,716 shares of the company's stock were exchanged, compared to its average volume of 2,156,688. The firm's 50-day moving average price is $29.29 and its 200 day moving average price is $26.81. The company has a market cap of $5.73 billion, a P/E ratio of 10.28, a PEG ratio of 0.86 and a beta of 1.05. SLM Co. has a 1-year low of $19.39 and a 1-year high of $32.65. 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 announced its quarterly 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%. As a group, research analysts anticipate that SLM Co. will post 3.07 earnings per share for the current year.
SLM Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Wednesday, March 5th were issued a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.52 dividend on an annualized basis and a yield of 1.91%. SLM's payout ratio is 19.62%.
Insider Buying and Selling
In other news, Director Robert S. Strong sold 40,000 shares of the 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 transaction, the director now owns 43,163 shares of the company's stock, valued at $1,233,166.91. This represents a 48.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.20% of the stock is owned by insiders.
Analyst Ratings Changes
Several research firms have recently issued reports on SLM. Morgan Stanley boosted their target price on SLM from $32.00 to $38.00 and gave the stock an "overweight" rating in a research report on Monday, March 10th. Barclays increased their price objective 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. JPMorgan Chase & Co. reduced their price target on SLM from $30.00 to $27.00 and set a "neutral" rating for the company in a report on Tuesday. Wells Fargo & Company raised their price objective on shares of SLM from $32.00 to $33.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. Finally, Compass Point increased their price objective on SLM from $31.00 to $34.00 and gave the stock a "buy" rating in a research report on Friday, January 24th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $31.18.
Check Out Our Latest Stock Report on SLM
SLM Profile
(
Free Report)
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.
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