Principal Financial Group Inc. Lowers Stock Position in SLM Co. (NASDAQ:SLM)

Principal Financial Group Inc. trimmed its position in shares of SLM Co. (NASDAQ:SLM - Free Report) by 31.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 503,911 shares of the credit services provider's stock after selling 227,633 shares during the period. Principal Financial Group Inc. owned 0.23% of SLM worth $11,524,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of SLM. Assenagon Asset Management S.A. raised its position in shares of SLM by 3,800.6% during the third quarter. Assenagon Asset Management S.A. now owns 2,406,384 shares of the credit services provider's stock valued at $55,034,000 after buying an additional 2,344,691 shares during the last quarter. Millennium Management LLC lifted its stake in SLM by 107.1% in the 2nd quarter. Millennium Management LLC now owns 2,366,642 shares of the credit services provider's stock worth $49,202,000 after purchasing an additional 1,224,015 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of SLM by 253.8% during the 2nd quarter. AQR Capital Management LLC now owns 1,290,997 shares of the credit services provider's stock valued at $26,840,000 after purchasing an additional 926,120 shares during the last quarter. American Century Companies Inc. grew its position in shares of SLM by 23.9% during the second quarter. American Century Companies Inc. now owns 4,453,521 shares of the credit services provider's stock valued at $92,589,000 after purchasing an additional 859,625 shares in the last quarter. Finally, Boston Partners increased its holdings in shares of SLM by 5.7% in the first quarter. Boston Partners now owns 12,461,356 shares of the credit services provider's stock worth $271,626,000 after purchasing an additional 674,424 shares during the last quarter. Institutional investors own 98.94% of the company's stock.

SLM Trading Down 1.1 %

SLM stock traded down $0.27 during midday trading on Monday, reaching $24.20. The company's stock had a trading volume of 1,231,900 shares, compared to its average volume of 1,787,982. SLM Co. has a 1 year low of $13.93 and a 1 year high of $24.59. The firm has a market capitalization of $5.14 billion, a price-to-earnings ratio of 8.53, a PEG ratio of 1.04 and a beta of 1.16. The stock has a fifty day simple moving average of $22.46 and a two-hundred day simple moving average of $21.70. The company has a debt-to-equity ratio of 3.21, a quick ratio of 1.27 and a current ratio of 1.29.

SLM (NASDAQ:SLM - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported ($0.23) earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.30). The company had revenue of $652.64 million for the quarter, compared to the consensus estimate of $363.40 million. SLM had a net margin of 22.18% and a return on equity of 35.92%. During the same quarter in the previous year, the business earned $0.11 EPS. On average, equities research analysts predict that SLM Co. will post 2.73 EPS for the current year.

SLM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.13 per share. The ex-dividend date is Thursday, December 5th. This is a positive change from SLM's previous quarterly dividend of $0.11. This represents a $0.52 dividend on an annualized basis and a yield of 2.15%. SLM's payout ratio is 18.12%.

Analysts Set New Price Targets

SLM has been the topic of several research reports. Deutsche Bank Aktiengesellschaft boosted their price target on shares of SLM from $25.00 to $29.00 and gave the stock a "buy" rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. decreased their target price on shares of SLM from $25.00 to $24.00 and set a "neutral" rating on the stock in a research report on Monday, October 7th. Keefe, Bruyette & Woods lifted their price target on SLM from $25.00 to $27.00 and gave the stock an "outperform" rating in a research report on Thursday, July 25th. Wedbush restated an "outperform" rating and set a $26.00 price objective on shares of SLM in a research report on Thursday, October 24th. Finally, Barclays lowered their price objective on SLM from $27.00 to $26.00 and set an "overweight" rating for the company in a research note on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $25.45.

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.