Ameriprise Financial Inc. Trims Stock Position in SLM Co. (NASDAQ:SLM)

Ameriprise Financial Inc. cut its holdings in SLM Co. (NASDAQ:SLM - Free Report) by 37.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 426,230 shares of the credit services provider's stock after selling 257,435 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.20% of SLM worth $11,755,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. boosted its position in SLM by 32.2% during the 4th quarter. Blue Trust Inc. now owns 1,849 shares of the credit services provider's stock worth $51,000 after buying an additional 450 shares during the period. Private Trust Co. NA lifted its holdings in SLM by 86.4% during the 4th quarter. Private Trust Co. NA now owns 971 shares of the credit services provider's stock worth $27,000 after buying an additional 450 shares during the period. Xponance Inc. grew its position in shares of SLM by 3.1% in the 4th quarter. Xponance Inc. now owns 24,263 shares of the credit services provider's stock valued at $669,000 after buying an additional 729 shares during the last quarter. Truist Financial Corp raised its position in shares of SLM by 11.9% during the fourth quarter. Truist Financial Corp now owns 9,052 shares of the credit services provider's stock worth $250,000 after acquiring an additional 960 shares during the last quarter. Finally, LGT Fund Management Co Ltd. lifted its stake in shares of SLM by 10.2% in the fourth 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 during the period. 98.94% of the stock is currently owned by institutional investors and hedge funds.

SLM Stock Down 0.2%

Shares of NASDAQ:SLM traded down $0.07 during midday trading on Friday, hitting $33.58. 2,003,515 shares of the company's stock were exchanged, compared to its average volume of 2,257,425. The company has a debt-to-equity ratio of 3.37, a current ratio of 1.32 and a quick ratio of 1.27. SLM Co. has a 12 month low of $19.39 and a 12 month high of $33.95. The company has a market cap of $7.05 billion, a PE ratio of 12.67, a price-to-earnings-growth ratio of 0.86 and a beta of 1.05. The stock has a 50 day moving average price of $29.40 and a 200-day moving average price of $28.46.

SLM (NASDAQ:SLM - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The credit services provider reported $1.40 EPS for the quarter, topping analysts' consensus estimates of $1.19 by $0.21. SLM had a return on equity of 31.66% and a net margin of 20.73%. The firm had revenue of $374.97 million during the quarter, compared to analyst estimates of $359.83 million. During the same period in the previous year, the company posted $1.27 EPS. The company's revenue for the quarter was up 3.5% on a year-over-year basis. On average, sell-side analysts anticipate that SLM Co. will post 3.07 EPS for the current fiscal year.

SLM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Thursday, June 5th will be issued a $0.13 dividend. The ex-dividend date is Thursday, June 5th. This represents a $0.52 annualized dividend and a dividend yield of 1.55%. SLM's dividend payout ratio is currently 18.71%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods boosted their price target on shares of SLM from $30.00 to $32.00 and gave the stock a "market perform" rating in a research report on Friday, January 24th. Royal Bank of Canada upped their price target on shares of SLM from $30.00 to $32.00 and gave the company an "outperform" rating in a research report on Friday, January 24th. Morgan Stanley reissued an "overweight" rating and issued a $40.00 price objective (up from $33.00) on shares of SLM in a research report on Wednesday. Compass Point upped their target price on SLM from $31.00 to $34.00 and gave the company a "buy" rating in a research report on Friday, January 24th. Finally, JPMorgan Chase & Co. cut their price target on SLM from $30.00 to $27.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, SLM presently has a consensus rating of "Moderate Buy" and a consensus price target of $31.82.

Insider Activity

In other SLM news, Director Robert S. Strong sold 3,000 shares of the company's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $31.15, for a total value of $93,450.00. Following the completion of the transaction, the director now owns 35,195 shares in the company, valued at $1,096,324.25. This represents a 7.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.20% of the stock is currently owned by corporate insiders.

SLM Company 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.