SLM Co. (NASDAQ:SLM) Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC reduced its holdings in SLM Co. (NASDAQ:SLM - Free Report) by 93.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,381 shares of the credit services provider's stock after selling 63,525 shares during the period. Lazard Asset Management LLC's holdings in SLM were worth $120,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lighthouse Investment Partners LLC acquired a new stake in SLM during the fourth quarter worth about $8,771,000. Janus Henderson Group PLC increased its position in SLM by 1.8% during the fourth quarter. Janus Henderson Group PLC now owns 136,046 shares of the credit services provider's stock worth $3,754,000 after purchasing an additional 2,393 shares during the last quarter. Kaizen Financial Strategies acquired a new stake in SLM during the fourth quarter worth about $235,000. Focus Partners Wealth increased its position in SLM by 60.1% during the fourth quarter. Focus Partners Wealth now owns 16,785 shares of the credit services provider's stock worth $463,000 after purchasing an additional 6,299 shares during the last quarter. Finally, Ethic Inc. acquired a new stake in SLM during the fourth quarter worth about $243,000. 98.94% of the stock is owned by hedge funds and other institutional investors.

SLM Stock Up 2.3%

Shares of NASDAQ:SLM traded up $0.78 during trading on Tuesday, hitting $34.36. 2,071,138 shares of the company were exchanged, compared to its average volume of 2,257,014. The stock has a market capitalization of $7.21 billion, a P/E ratio of 12.97, a PEG ratio of 0.86 and a beta of 1.05. 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 $35.05. The firm's 50 day moving average price is $29.47 and its 200-day moving average price is $28.56.

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

SLM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Thursday, June 5th will be paid a $0.13 dividend. The ex-dividend date is Thursday, June 5th. This represents a $0.52 annualized dividend and a yield of 1.51%. SLM's dividend payout ratio is currently 18.71%.

Insider Buying and Selling at SLM

In other SLM news, Director Robert S. Strong sold 3,000 shares of the business's stock in a transaction 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 transaction, the director now directly owns 35,195 shares of the company's stock, valued at approximately $1,096,324.25. The trade was a 7.85% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on SLM shares. Wells Fargo & Company raised their price objective on shares of SLM from $34.00 to $38.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 14th. Barclays 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 Tuesday, February 18th. 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. Finally, Morgan Stanley reiterated an "overweight" rating and set a $40.00 price target (up from $33.00) on shares of SLM in a research report on Wednesday, May 21st. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $31.82.

SLM 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.