Shikiar Asset Management Inc. Invests $1.43 Million in SLM Co. (NASDAQ:SLM)

Shikiar Asset Management Inc. bought a new stake in shares of SLM Co. (NASDAQ:SLM - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 75,000 shares of the credit services provider's stock, valued at approximately $1,434,000.

A number of other hedge funds have also recently modified their holdings of SLM. Assenagon Asset Management S.A. grew its stake in shares of SLM by 967.5% during the third quarter. Assenagon Asset Management S.A. now owns 2,923,491 shares of the credit services provider's stock valued at $39,818,000 after buying an additional 2,649,626 shares during the last quarter. Norges Bank bought a new position in SLM in the fourth quarter worth approximately $41,054,000. Capital World Investors grew its stake in SLM by 53.0% in the first quarter. Capital World Investors now owns 4,530,000 shares of the credit services provider's stock worth $83,171,000 after purchasing an additional 1,570,000 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in SLM by 1,097.1% in the first quarter. Rockefeller Capital Management L.P. now owns 1,524,886 shares of the credit services provider's stock worth $18,892,000 after purchasing an additional 1,397,503 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in SLM by 17.6% in the first quarter. Dimensional Fund Advisors LP now owns 6,605,432 shares of the credit services provider's stock worth $81,839,000 after purchasing an additional 988,172 shares in the last quarter. Institutional investors own 98.94% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on SLM shares. Citigroup raised SLM from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $14.00 to $23.00 in a research note on Tuesday, January 16th. Deutsche Bank Aktiengesellschaft started coverage on SLM in a research note on Wednesday, January 10th. They issued a "buy" rating and a $25.00 price objective on the stock. Wells Fargo & Company increased their price objective on SLM from $22.00 to $24.00 and gave the stock an "overweight" rating in a research note on Thursday. JPMorgan Chase & Co. upped their target price on SLM from $20.00 to $22.00 and gave the stock a "neutral" rating in a report on Wednesday, April 3rd. Finally, Royal Bank of Canada upped their target price on SLM from $21.00 to $22.00 and gave the stock an "outperform" rating in a report on Thursday, January 25th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, SLM has a consensus rating of "Moderate Buy" and a consensus target price of $20.32.

Insider Activity

In related news, EVP Donna F. Vieira sold 12,308 shares of the company's stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $20.27, for a total value of $249,483.16. Following the transaction, the executive vice president now directly owns 126,500 shares of the company's stock, valued at approximately $2,564,155. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other SLM news, SVP Jonathan Boyles sold 94,078 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $20.72, for a total transaction of $1,949,296.16. Following the sale, the senior vice president now directly owns 52,751 shares of the company's stock, valued at approximately $1,093,000.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Donna F. Vieira sold 12,308 shares of the firm's stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $20.27, for a total value of $249,483.16. Following the sale, the executive vice president now owns 126,500 shares in the company, valued at $2,564,155. The disclosure for this sale can be found here. Company insiders own 0.91% of the company's stock.

SLM Stock Up 1.5 %

Shares of SLM traded up $0.31 during midday trading on Friday, hitting $21.09. 1,211,130 shares of the company's stock traded hands, compared to its average volume of 1,055,973. SLM Co. has a 1 year low of $12.26 and a 1 year high of $21.94. The firm's fifty day moving average is $20.76 and its 200-day moving average is $18.00. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 3.21. The stock has a market capitalization of $4.65 billion, a price-to-earnings ratio of 8.79, a price-to-earnings-growth ratio of 0.43 and a beta of 1.16.

SLM (NASDAQ:SLM - Get Free Report) last issued its quarterly earnings data on Tuesday, January 30th. The credit services provider reported $0.72 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.15). SLM had a net margin of 20.65% and a return on equity of 36.86%. The business had revenue of $725.66 million for the quarter, compared to analysts' expectations of $379.20 million. During the same quarter in the prior year, the company posted ($0.33) EPS. As a group, sell-side analysts anticipate that SLM Co. will post 2.72 earnings per share for the current year.

SLM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, March 4th were issued a dividend of $0.11 per share. The ex-dividend date was Friday, March 1st. This represents a $0.44 annualized dividend and a dividend yield of 2.09%. SLM's dividend payout ratio is presently 18.33%.

SLM declared that its Board of Directors has authorized a share buyback plan on Wednesday, January 24th that authorizes the company to repurchase $650.00 million in outstanding shares. This repurchase authorization authorizes the credit services provider to repurchase up to 14.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's management believes its stock is undervalued.

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.