Principal Financial Group Inc. Sells 16,958 Shares of SLM Co. (NASDAQ:SLM)

Principal Financial Group Inc. reduced its stake in SLM Co. (NASDAQ:SLM - Free Report) by 3.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 486,953 shares of the credit services provider's stock after selling 16,958 shares during the period. Principal Financial Group Inc. owned 0.23% of SLM worth $13,430,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SLM. True Wealth Design LLC bought a new position in shares of SLM in the 3rd quarter worth $31,000. Blue Trust Inc. raised its holdings in SLM by 358.7% during the third quarter. Blue Trust Inc. now owns 1,399 shares of the credit services provider's stock worth $32,000 after buying an additional 1,094 shares during the last quarter. Capital Performance Advisors LLP bought a new position in shares of SLM in the third quarter valued at $35,000. Wilmington Savings Fund Society FSB acquired a new position in shares of SLM during the fourth quarter valued at about $86,000. Finally, Covestor Ltd increased its position in shares of SLM by 110.3% during the third quarter. Covestor Ltd now owns 4,404 shares of the credit services provider's stock worth $101,000 after acquiring an additional 2,310 shares in the last quarter. 98.94% of the stock is owned by institutional investors.

SLM Stock Performance

SLM stock traded up $0.07 during midday trading on Friday, hitting $30.19. The company's stock had a trading volume of 3,492,678 shares, compared to its average volume of 2,768,735. SLM Co. has a 1 year low of $19.39 and a 1 year high of $32.65. The stock has a market cap of $6.35 billion, a price-to-earnings ratio of 11.39, a PEG ratio of 0.86 and a beta of 1.22. The stock's 50-day moving average price is $28.95 and its 200 day moving average price is $25.30. The company has a quick ratio of 1.27, a current ratio of 1.32 and a debt-to-equity ratio of 3.37.

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

SLM Dividend Announcement

The business also recently declared 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 is Wednesday, March 5th. This represents a $0.52 annualized dividend and a dividend yield of 1.72%. SLM's payout ratio is currently 19.62%.

Analyst Ratings Changes

Several equities analysts recently weighed in on SLM shares. Morgan Stanley raised their price target on shares of SLM from $26.00 to $32.00 and gave the company an "overweight" rating in a research report on Thursday, December 19th. Compass Point raised their target price on SLM from $31.00 to $34.00 and gave the company a "buy" rating in a report on Friday, January 24th. Keefe, Bruyette & Woods upped their price target on SLM from $30.00 to $32.00 and gave the stock a "market perform" rating in a report on Friday, January 24th. Royal Bank of Canada increased their price target on SLM from $30.00 to $32.00 and gave the company an "outperform" rating in a research report on Friday, January 24th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of SLM from $29.00 to $30.00 and gave the stock a "neutral" rating in a report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $30.91.

Insider Buying and Selling

In related news, Director Robert S. Strong sold 40,000 shares of SLM stock in a transaction dated 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 completion of 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is currently owned by insiders.

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.