Edgestream Partners L.P. Sells 49,345 Shares of SLM Corporation (NASDAQ:SLM)

Edgestream Partners L.P. lessened its stake in SLM Corporation (NASDAQ:SLM - Free Report) by 51.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,018 shares of the credit services provider's stock after selling 49,345 shares during the quarter. Edgestream Partners L.P.'s holdings in SLM were worth $1,352,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. J.Safra Asset Management Corp acquired a new position in SLM in the 1st quarter worth $25,000. Fifth Third Bancorp increased its position in shares of SLM by 37.7% in the 1st quarter. Fifth Third Bancorp now owns 1,714 shares of the credit services provider's stock worth $50,000 after purchasing an additional 469 shares during the last quarter. UMB Bank n.a. grew its position in shares of SLM by 355.4% during the 1st quarter. UMB Bank n.a. now owns 1,899 shares of the credit services provider's stock valued at $56,000 after buying an additional 1,482 shares during the last quarter. CENTRAL TRUST Co bought a new stake in shares of SLM during the 1st quarter valued at about $132,000. Finally, Fifth Third Wealth Advisors LLC bought a new position in SLM in the 1st quarter worth about $214,000. Institutional investors and hedge funds own 98.94% of the company's stock.

SLM Stock Performance

SLM stock traded down $0.31 during mid-day trading on Friday, reaching $32.83. 1,671,974 shares of the stock traded hands, compared to its average volume of 2,309,375. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 2.86. SLM Corporation has a 52 week low of $19.39 and a 52 week high of $34.97. The business has a 50-day moving average of $32.84 and a two-hundred day moving average of $30.21. The firm has a market capitalization of $6.89 billion, a PE ratio of 11.81, a P/E/G ratio of 0.80 and a beta of 1.09.

SLM (NASDAQ:SLM - Get Free Report) last released 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. The company had revenue of $374.97 million during the quarter, compared to the consensus estimate of $359.83 million. SLM had a net margin of 21.05% and a return on equity of 31.25%. The firm's revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period last year, the firm earned $1.27 EPS. As a group, equities analysts predict that SLM Corporation will post 3.07 EPS for the current fiscal year.

SLM Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Thursday, June 5th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date was Thursday, June 5th. SLM's dividend payout ratio is currently 18.71%.

Analyst Ratings Changes

SLM has been the subject of several recent analyst reports. Barclays upped their target price on shares of SLM from $34.00 to $38.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. Wells Fargo & Company increased their target price on shares of SLM from $34.00 to $38.00 and gave the company an "overweight" rating in a research note on Wednesday, May 14th. Royal Bank Of Canada restated an "outperform" rating on shares of SLM in a report on Monday, July 14th. Morgan Stanley restated an "overweight" rating and set a $40.00 price target (up previously from $33.00) on shares of SLM in a report on Wednesday, May 21st. Finally, JPMorgan Chase & Co. upgraded shares of SLM from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $29.00 to $38.00 in a report on Friday, July 11th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, SLM has a consensus rating of "Moderate Buy" and an average price target of $33.40.

Insider Buying and Selling at SLM

In other news, Director Robert S. Strong sold 3,000 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $31.15, for a total value of $93,450.00. Following the completion of the transaction, the director owned 35,195 shares in the company, valued at $1,096,324.25. This represents a 7.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is owned by company 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.