Richard Bernstein Advisors LLC Cuts Stock Holdings in SLM Corporation (NASDAQ:SLM)

Richard Bernstein Advisors LLC trimmed its holdings in SLM Corporation (NASDAQ:SLM - Free Report) by 4.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 194,212 shares of the credit services provider's stock after selling 8,115 shares during the period. Richard Bernstein Advisors LLC owned 0.09% of SLM worth $5,704,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SLM. Capital Research Global Investors acquired a new stake in SLM during the 4th quarter worth approximately $144,101,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of SLM during the fourth quarter worth $140,442,000. T. Rowe Price Investment Management Inc. acquired a new stake in shares of SLM during the fourth quarter worth $76,362,000. Duquesne Family Office LLC acquired a new stake in shares of SLM during the fourth quarter worth $69,509,000. Finally, Norges Bank acquired a new stake in shares of SLM during the fourth quarter worth $68,603,000. 98.94% of the stock is owned by institutional investors and hedge funds.

SLM Price Performance

SLM stock traded up $0.03 during trading on Tuesday, reaching $34.43. 1,242,746 shares of the company were exchanged, compared to its average volume of 2,281,689. The company has a 50-day moving average of $32.41 and a two-hundred day moving average of $29.89. The company has a market capitalization of $7.23 billion, a price-to-earnings ratio of 12.37, a P/E/G ratio of 0.93 and a beta of 1.09. SLM Corporation has a twelve month low of $19.39 and a twelve month high of $35.66. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.34 and a quick ratio of 1.34.

SLM (NASDAQ:SLM - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The credit services provider reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company's revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.27 earnings per share. As a group, equities analysts predict that SLM Corporation will post 3.07 earnings per share for the current fiscal year.

SLM Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Thursday, June 5th were issued a $0.13 dividend. The ex-dividend date was Thursday, June 5th. This represents a $0.52 dividend on an annualized basis and a yield of 1.51%. SLM's payout ratio is 18.71%.

Insider Buying and Selling at SLM

In other news, Director Robert S. Strong sold 3,000 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $31.15, for a total transaction of $93,450.00. Following the completion of the sale, the director directly 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 SEC, which is available through the SEC website. Insiders own 1.30% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Barclays lifted their price objective on shares of SLM from $34.00 to $38.00 and gave the stock an "overweight" rating in a research note on Friday, May 30th. Wells Fargo & Company lifted their price target on shares of SLM from $34.00 to $38.00 and gave the company an "overweight" rating in a research report on Wednesday, May 14th. Morgan Stanley reiterated an "overweight" rating and issued a $40.00 price target (up from $33.00) on shares of SLM in a research report on Wednesday, May 21st. Finally, JPMorgan Chase & Co. dropped their price target on shares of SLM from $30.00 to $27.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $32.30.

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.