SLM Co. (NASDAQ:SLM) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lowered its position in SLM Co. (NASDAQ:SLMGet Rating) by 22.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,443 shares of the credit services provider’s stock after selling 9,154 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in SLM were worth $577,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Boston Partners lifted its stake in shares of SLM by 37.0% during the first quarter. Boston Partners now owns 14,965,786 shares of the credit services provider’s stock worth $273,621,000 after purchasing an additional 4,042,189 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of SLM by 13.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 17,587,780 shares of the credit services provider’s stock worth $345,952,000 after acquiring an additional 2,021,850 shares in the last quarter. Wedge Capital Management L L P NC lifted its stake in shares of SLM by 221.0% in the first quarter. Wedge Capital Management L L P NC now owns 2,550,985 shares of the credit services provider’s stock worth $46,836,000 after acquiring an additional 1,756,241 shares in the last quarter. Lazard Asset Management LLC lifted its stake in shares of SLM by 78,214.2% in the fourth quarter. Lazard Asset Management LLC now owns 1,112,061 shares of the credit services provider’s stock worth $21,874,000 after acquiring an additional 1,110,641 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its stake in shares of SLM by 89.2% in the first quarter. Los Angeles Capital Management LLC now owns 2,128,237 shares of the credit services provider’s stock worth $39,074,000 after acquiring an additional 1,003,340 shares in the last quarter. Institutional investors and hedge funds own 92.97% of the company’s stock.

SLM Trading Down 2.9 %

NASDAQ SLM opened at $14.84 on Monday. SLM Co. has a 1-year low of $14.60 and a 1-year high of $20.88. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 3.02. The company has a market capitalization of $3.73 billion, a PE ratio of 4.91 and a beta of 1.19. The firm’s fifty day simple moving average is $15.89 and its 200-day simple moving average is $17.24.

SLM (NASDAQ:SLMGet Rating) last posted its quarterly earnings results on Wednesday, July 27th. The credit services provider reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.05. The business had revenue of $362.81 million for the quarter, compared to the consensus estimate of $354.41 million. SLM had a net margin of 37.26% and a return on equity of 46.75%. During the same period in the prior year, the business posted $0.45 earnings per share. As a group, sell-side analysts anticipate that SLM Co. will post 2.66 earnings per share for the current fiscal year.

SLM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Friday, September 2nd will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend is Thursday, September 1st. SLM’s payout ratio is 14.57%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on SLM shares. Citigroup cut their price target on SLM from $26.00 to $21.00 in a research note on Monday, May 2nd. Keefe, Bruyette & Woods lowered their price objective on SLM from $24.00 to $21.00 in a report on Monday, July 11th. Finally, Barclays lowered their price objective on SLM from $27.00 to $22.00 and set an “overweight” rating for the company in a report on Monday, July 11th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, SLM currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.

About SLM

(Get Rating)

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 also offers retail deposit accounts, including certificates of deposit, money market deposit accounts, and high-yield savings accounts; and omnibus accounts, as well as credit card loans.

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