UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 2,555,997 Shares of SLM Co. (NASDAQ:SLM)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in SLM Co. (NASDAQ:SLM - Free Report) by 58.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,827,296 shares of the credit services provider's stock after selling 2,555,997 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.86% of SLM worth $41,790,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Waldron Private Wealth LLC acquired a new position in shares of SLM during the third quarter valued at about $31,000. Blue Trust Inc. lifted its position in shares of SLM by 358.7% in the 3rd quarter. Blue Trust Inc. now owns 1,399 shares of the credit services provider's stock worth $32,000 after acquiring an additional 1,094 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of SLM during the 3rd quarter worth approximately $35,000. International Assets Investment Management LLC bought a new stake in shares of SLM during the second quarter valued at approximately $60,000. Finally, Covestor Ltd raised its stake in shares of SLM by 110.3% in the third quarter. Covestor Ltd now owns 4,404 shares of the credit services provider's stock valued at $101,000 after purchasing an additional 2,310 shares in the last quarter. 98.94% of the stock is currently owned by institutional investors and hedge funds.

SLM Price Performance

Shares of SLM stock traded down $0.01 during trading on Wednesday, reaching $26.49. The company's stock had a trading volume of 724,505 shares, compared to its average volume of 1,847,138. The stock has a 50-day moving average price of $23.65 and a two-hundred day moving average price of $22.09. The stock has a market capitalization of $5.62 billion, a P/E ratio of 9.22, a price-to-earnings-growth ratio of 1.13 and a beta of 1.21. The company has a current ratio of 1.29, a quick ratio of 1.27 and a debt-to-equity ratio of 3.21. SLM Co. has a one year low of $15.64 and a one year high of $28.22.

SLM (NASDAQ:SLM - Get Free Report) last issued its quarterly earnings results 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). SLM had a net margin of 22.18% and a return on equity of 35.92%. The company had revenue of $652.64 million during the quarter, compared to analyst estimates of $363.40 million. During the same period in the prior year, the business earned $0.11 EPS. As a group, sell-side analysts anticipate that SLM Co. will post 2.73 EPS for the current fiscal year.

SLM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, December 5th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.96%. This is a positive change from SLM's previous quarterly dividend of $0.11. The ex-dividend date is Thursday, December 5th. SLM's dividend payout ratio (DPR) is presently 18.12%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SLM shares. Bank of America started coverage on shares of SLM in a research note on Wednesday, September 25th. They set a "buy" rating and a $27.00 price target on the stock. Royal Bank of Canada reissued an "outperform" rating and issued a $26.00 target price on shares of SLM in a research note on Thursday, October 24th. Barclays cut their price target on shares of SLM from $27.00 to $26.00 and set an "overweight" rating for the company in a research note 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 reaffirmed an "outperform" rating and issued a $26.00 price target on shares of SLM in a research note 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 data from MarketBeat.com, SLM presently has a consensus rating of "Moderate Buy" and an average price target of $25.45.

SLM 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.