Redwood Investment Management LLC Has $1.43 Million Position in SLM Co. (NASDAQ:SLM)

Redwood Investment Management LLC reduced its stake in SLM Co. (NASDAQ:SLM - Free Report) by 25.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 51,717 shares of the credit services provider's stock after selling 17,925 shares during the period. Redwood Investment Management LLC's holdings in SLM were worth $1,426,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Private Trust Co. NA lifted its stake in SLM by 86.4% in the fourth quarter. Private Trust Co. NA now owns 971 shares of the credit services provider's stock valued at $27,000 after buying an additional 450 shares during the period. Blue Trust Inc. raised its position in shares of SLM by 32.2% in the 4th quarter. Blue Trust Inc. now owns 1,849 shares of the credit services provider's stock valued at $51,000 after acquiring an additional 450 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of SLM in the 4th quarter valued at approximately $86,000. Plato Investment Management Ltd bought a new position in SLM during the 4th quarter worth approximately $114,000. Finally, Jones Financial Companies Lllp grew its holdings in SLM by 489.7% during the fourth quarter. Jones Financial Companies Lllp now owns 4,476 shares of the credit services provider's stock valued at $123,000 after purchasing an additional 3,717 shares during the period. 98.94% of the stock is currently owned by institutional investors.

SLM Stock Up 0.3%

SLM stock traded up $0.11 during midday trading on Monday, reaching $33.80. The stock had a trading volume of 1,233,691 shares, compared to its average volume of 2,255,617. The stock has a market capitalization of $7.09 billion, a P/E ratio of 12.75, a price-to-earnings-growth ratio of 0.86 and a beta of 1.05. The firm's fifty day simple moving average is $28.95 and its 200-day simple moving average is $28.11. The company has a debt-to-equity ratio of 3.37, a quick ratio of 1.27 and a current ratio of 1.32. SLM Co. has a 1-year low of $19.39 and a 1-year high of $33.93.

SLM (NASDAQ:SLM - Get Free Report) last announced 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 net margin of 20.73% and a return on equity of 31.66%. The business had revenue of $374.97 million for the quarter, compared to analyst estimates of $359.83 million. During the same quarter in the previous year, the firm posted $1.27 earnings per share. The firm's revenue for the quarter was up 3.5% on a year-over-year basis. As a group, analysts expect that SLM Co. will post 3.07 EPS for the current fiscal year.

SLM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Thursday, June 5th will be given a dividend of $0.13 per share. The ex-dividend date is Thursday, June 5th. This represents a $0.52 annualized dividend and a yield of 1.54%. SLM's dividend payout ratio (DPR) is presently 18.71%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Wells Fargo & Company increased their target price on shares of SLM from $34.00 to $38.00 and gave the stock an "overweight" rating in a report on Wednesday, May 14th. Morgan Stanley reaffirmed an "overweight" rating and set a $33.00 price objective (up previously from $31.00) on shares of SLM in a research note on Friday, April 25th. Royal Bank of Canada boosted their target price on SLM from $30.00 to $32.00 and gave the company an "outperform" rating in a research note on Friday, January 24th. Compass Point raised their price target on SLM from $31.00 to $34.00 and gave the stock a "buy" rating in a research report on Friday, January 24th. Finally, JPMorgan Chase & Co. cut their price objective on SLM from $30.00 to $27.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $31.18.

Insider Transactions at SLM

In related news, Director Robert S. Strong sold 3,000 shares of the company's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $31.15, for a total transaction of $93,450.00. Following the sale, the director now owns 35,195 shares in the company, valued at approximately $1,096,324.25. This represents a 7.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.20% of the company's stock.

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.