Edgestream Partners L.P. Lowers Holdings in SLM Co. (NASDAQ:SLM)

Edgestream Partners L.P. trimmed its position in SLM Co. (NASDAQ:SLM) by 32.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 95,363 shares of the credit services provider’s stock after selling 46,759 shares during the quarter. Edgestream Partners L.P.’s holdings in SLM were worth $2,630,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Callan Family Office LLC purchased a new stake in shares of SLM in the 4th quarter worth $278,000. Raymond James Financial Inc. bought a new position in shares of SLM in the 4th quarter worth $20,603,000. Proficio Capital Partners LLC bought a new position in shares of SLM in the 4th quarter worth $354,000. Victory Capital Management Inc. raised its position in shares of SLM by 1.9% in the 4th quarter. Victory Capital Management Inc. now owns 68,191 shares of the credit services provider’s stock worth $1,881,000 after acquiring an additional 1,265 shares in the last quarter. Finally, LGT Fund Management Co Ltd. raised its position in shares of SLM by 10.2% in the 4th quarter. LGT Fund Management Co Ltd. now owns 11,023 shares of the credit services provider’s stock worth $304,000 after acquiring an additional 1,023 shares in the last quarter. 98.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at SLM

In other SLM news, Director Robert S. Strong sold 40,000 shares of the stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $28.57, for a total transaction of $1,142,800.00. Following the completion of the transaction, the director now owns 43,163 shares of the company’s stock, valued at $1,233,166.91. This 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 through this hyperlink. Insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SLM. JPMorgan Chase & Co. boosted their price target on SLM from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Royal Bank of Canada boosted their price target on SLM from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Compass Point boosted their price target on SLM from $31.00 to $34.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Morgan Stanley boosted their price target on SLM from $26.00 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday, December 19th. Finally, Wells Fargo & Company upped their target price on SLM from $32.00 to $33.00 and gave the company an “overweight” rating in a research 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 data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $30.91.

SLM Stock Performance

Shares of SLM stock opened at $29.46 on Monday. The company has a market capitalization of $6.20 billion, a P/E ratio of 11.12, a P/E/G ratio of 0.86 and a beta of 1.23. The business’s 50 day moving average is $29.09 and its two-hundred day moving average is $25.62. 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 Co. has a 12-month low of $19.39 and a 12-month high of $32.65.

SLM (NASDAQ:SLM) last issued its quarterly earnings results on Thursday, January 23rd. The credit services provider reported $0.50 earnings per share (EPS) 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%. Analysts expect that SLM Co. will post 3.07 EPS for the current fiscal year.

SLM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.13 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.52 dividend on an annualized basis and a yield of 1.77%. SLM’s dividend payout ratio is currently 19.62%.

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.