Louisiana State Employees Retirement System Reduces Holdings in SLM Co. (NASDAQ:SLM)

Louisiana State Employees Retirement System lowered its position in shares of SLM Co. (NASDAQ:SLM) by 6.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 78,000 shares of the credit services provider’s stock after selling 5,800 shares during the period. Louisiana State Employees Retirement System’s holdings in SLM were worth $1,373,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. First Trust Advisors LP increased its stake in shares of SLM by 3.2% in the first quarter. First Trust Advisors LP now owns 496,117 shares of the credit services provider’s stock worth $4,917,000 after buying an additional 15,153 shares during the last quarter. Amundi Pioneer Asset Management Inc. increased its stake in shares of SLM by 49.1% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 169,597 shares of the credit services provider’s stock worth $1,680,000 after buying an additional 55,858 shares during the last quarter. Captrust Financial Advisors increased its stake in shares of SLM by 1,341.6% in the first quarter. Captrust Financial Advisors now owns 10,668 shares of the credit services provider’s stock worth $192,000 after buying an additional 9,928 shares during the last quarter. Cubist Systematic Strategies LLC increased its stake in shares of SLM by 448.3% in the first quarter. Cubist Systematic Strategies LLC now owns 126,719 shares of the credit services provider’s stock worth $2,277,000 after buying an additional 103,609 shares during the last quarter. Finally, Morgan Stanley increased its stake in shares of SLM by 8.6% in the first quarter. Morgan Stanley now owns 1,698,833 shares of the credit services provider’s stock worth $30,528,000 after buying an additional 134,989 shares during the last quarter. Institutional investors own 95.56% of the company’s stock.

A number of analysts recently issued reports on the stock. Stephens lifted their price target on shares of SLM from $23.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday, October 22nd. Credit Suisse Group boosted their target price on shares of SLM from $24.00 to $25.00 and gave the company an “outperform” rating in a research note on Friday, October 22nd. Finally, Royal Bank of Canada boosted their target price on shares of SLM from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Friday, October 22nd. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $23.50.

Shares of SLM opened at $18.50 on Thursday. SLM Co. has a 1 year low of $10.53 and a 1 year high of $21.40. The company has a market cap of $5.42 billion, a price-to-earnings ratio of 5.20 and a beta of 1.34. The company has a debt-to-equity ratio of 2.78, a quick ratio of 1.23 and a current ratio of 1.23. The firm has a fifty day moving average of $18.05 and a 200-day moving average of $18.94.

SLM (NASDAQ:SLM) last announced its quarterly earnings results on Tuesday, October 19th. The credit services provider reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.07. SLM had a net margin of 56.48% and a return on equity of 60.87%. During the same quarter in the prior year, the business earned $0.47 earnings per share. Analysts predict that SLM Co. will post 3.57 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 15th. Investors of record on Friday, December 3rd will be issued a $0.11 dividend. The ex-dividend date is Thursday, December 2nd. This represents a $0.44 annualized dividend and a yield of 2.38%. This is an increase from SLM’s previous quarterly dividend of $0.03. SLM’s dividend payout ratio is presently 3.37%.

SLM announced that its board has authorized a stock repurchase program on Wednesday, October 20th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the credit services provider to reacquire up to 4.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

SLM Company Profile

SLM Corp. engages in the provision and administration of education loans. Its services include private education loans, banking, college savings, and insurance services. The company was founded in 1972 and is headquartered in Newark, DE.

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Institutional Ownership by Quarter for SLM (NASDAQ:SLM)

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