SLM Co. (NASDAQ:SLM) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System decreased its holdings in SLM Co. (NASDAQ:SLM) by 15.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 380,673 shares of the credit services provider’s stock after selling 67,123 shares during the quarter. California Public Employees Retirement System owned 0.18% of SLM worth $10,499,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Blue Trust Inc. increased its position in shares of SLM by 32.2% in the fourth quarter. Blue Trust Inc. now owns 1,849 shares of the credit services provider’s stock valued at $51,000 after buying an additional 450 shares in the last quarter. Private Trust Co. NA increased its holdings in SLM by 86.4% in the 4th quarter. Private Trust Co. NA now owns 971 shares of the credit services provider’s stock worth $27,000 after acquiring an additional 450 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in SLM by 1.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 33,825 shares of the credit services provider’s stock worth $933,000 after acquiring an additional 552 shares during the period. Xponance Inc. lifted its holdings in SLM by 3.1% during the fourth quarter. Xponance Inc. now owns 24,263 shares of the credit services provider’s stock valued at $669,000 after purchasing an additional 729 shares in the last quarter. Finally, Truist Financial Corp grew its position in shares of SLM by 11.9% in the fourth quarter. Truist Financial Corp now owns 9,052 shares of the credit services provider’s stock valued at $250,000 after purchasing an additional 960 shares during the period. Hedge funds and other institutional investors own 98.94% of the company’s stock.

SLM Trading Down 6.7 %

Shares of SLM stock opened at $25.54 on Monday. SLM Co. has a twelve month low of $19.39 and a twelve month high of $32.65. The stock has a market cap of $5.37 billion, a price-to-earnings ratio of 9.64, a PEG ratio of 0.86 and a beta of 1.05. The company’s 50-day moving average price is $29.56 and its 200-day moving average price is $26.74. The company has a current ratio of 1.32, a quick ratio of 1.27 and a debt-to-equity ratio of 3.37.

SLM (NASDAQ:SLM) last posted its earnings results on Thursday, January 23rd. The credit services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate 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, equities analysts predict that SLM Co. will post 3.07 earnings per share for the current year.

SLM Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.13 per share. The ex-dividend date was Wednesday, March 5th. This represents a $0.52 annualized dividend and a yield of 2.04%. SLM’s dividend payout ratio (DPR) is 19.62%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Compass Point upped their price target on shares of SLM from $31.00 to $34.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Morgan Stanley increased their target price on SLM from $32.00 to $38.00 and gave the company an “overweight” rating in a report on Monday, March 10th. Keefe, Bruyette & Woods lifted their price target on SLM from $30.00 to $32.00 and gave the stock a “market perform” rating in a research note on Friday, January 24th. JPMorgan Chase & Co. increased their price objective on SLM from $29.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Finally, Wells Fargo & Company lifted their target price on shares of SLM from $32.00 to $33.00 and gave the stock an “overweight” rating in a research note on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.45.

Insider Buying and Selling at SLM

In other SLM news, Director Robert S. Strong sold 40,000 shares of SLM 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 completion of the sale, the director now directly owns 43,163 shares in the company, valued at $1,233,166.91. This trade represents a 48.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.20% of the company’s stock.

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.