SLM Co. (NASDAQ:SLM) Shares Sold by Fmr LLC

FMR LLC trimmed its holdings in shares of SLM Co. (NASDAQ:SLM - Free Report) by 6.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,417,797 shares of the credit services provider's stock after selling 373,200 shares during the quarter. FMR LLC owned approximately 2.55% of SLM worth $123,905,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Waldron Private Wealth LLC purchased a new stake in shares of SLM during the third quarter worth approximately $31,000. Blue Trust Inc. increased its position in shares of 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 purchasing an additional 1,094 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of SLM during the third quarter worth approximately $35,000. International Assets Investment Management LLC purchased a new stake in shares of SLM during the second quarter worth approximately $60,000. 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 purchasing an additional 2,310 shares in the last quarter. 98.94% of the stock is owned by institutional investors and hedge funds.

SLM Trading Down 1.6 %

Shares of NASDAQ SLM traded down $0.44 during mid-day trading on Thursday, reaching $26.27. 1,816,626 shares of the company's stock were exchanged, compared to its average volume of 1,852,178. The firm has a market capitalization of $5.58 billion, a price-to-earnings ratio of 9.35, a PEG ratio of 1.12 and a beta of 1.21. 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 Co. has a 52-week low of $15.85 and a 52-week high of $28.22. The company's 50-day moving average is $23.75 and its 200-day moving average is $22.12.

SLM (NASDAQ:SLM - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The credit services provider reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.30). SLM had a return on equity of 35.92% and a net margin of 22.18%. The firm had revenue of $652.64 million for the quarter, compared to analyst estimates of $363.40 million. During the same period in the previous year, the company posted $0.11 EPS. Analysts expect that SLM Co. will post 2.73 EPS for the current fiscal year.

SLM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, December 5th will be paid a dividend of $0.13 per share. This is a positive change from SLM's previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.52 annualized dividend and a yield of 1.98%. SLM's dividend payout ratio is presently 15.33%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Bank of America assumed coverage on SLM in a report on Wednesday, September 25th. They issued a "buy" rating and a $27.00 target price for the company. Barclays dropped their target price on SLM from $27.00 to $26.00 and set an "overweight" rating for the company in a report on Thursday, October 24th. Royal Bank of Canada restated an "outperform" rating and issued a $26.00 target price on shares of SLM in a report on Thursday, October 24th. JPMorgan Chase & Co. dropped their target price on SLM from $25.00 to $24.00 and set a "neutral" rating for the company in a report on Monday, October 7th. Finally, Wedbush restated an "outperform" rating and issued a $26.00 target price on shares of SLM in a report on Thursday, October 24th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $25.45.

Insider Buying and Selling at SLM

In other SLM news, Director Robert S. Strong sold 4,500 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $27.25, for a total value of $122,625.00. Following the sale, the director now owns 83,130 shares of the company's stock, valued at $2,265,292.50. This trade represents a 5.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.20% of the stock is owned by corporate insiders.

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.