Exchange Traded Concepts LLC Has $1.67 Million Holdings in SLM Co. (NASDAQ:SLM)

Exchange Traded Concepts LLC trimmed its stake in shares of SLM Co. (NASDAQ:SLM) by 19.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 72,870 shares of the credit services provider’s stock after selling 18,056 shares during the period. Exchange Traded Concepts LLC’s holdings in SLM were worth $1,667,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Millennium Management LLC boosted its position in SLM by 107.1% during the 2nd quarter. Millennium Management LLC now owns 2,366,642 shares of the credit services provider’s stock worth $49,202,000 after acquiring an additional 1,224,015 shares during the last quarter. Vanguard Group Inc. boosted its holdings in SLM by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 33,136,784 shares of the credit services provider’s stock worth $633,575,000 after purchasing an additional 1,151,557 shares during the last quarter. AQR Capital Management LLC grew its position in SLM by 253.8% in the second quarter. AQR Capital Management LLC now owns 1,290,997 shares of the credit services provider’s stock valued at $26,840,000 after purchasing an additional 926,120 shares in the last quarter. Vest Financial LLC increased its stake in SLM by 6,779.4% in the 1st quarter. Vest Financial LLC now owns 894,116 shares of the credit services provider’s stock valued at $19,483,000 after buying an additional 881,119 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of SLM by 23.9% during the 2nd quarter. American Century Companies Inc. now owns 4,453,521 shares of the credit services provider’s stock worth $92,589,000 after buying an additional 859,625 shares during the last quarter. 98.94% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SLM has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft upped their target price on SLM from $25.00 to $29.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Wedbush cut their price objective on SLM from $29.00 to $26.00 and set an “outperform” rating for the company in a report on Tuesday, September 24th. Wells Fargo & Company raised their target price on shares of SLM from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Royal Bank of Canada increased their price target on shares of SLM from $25.00 to $27.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of SLM from $25.00 to $27.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $24.83.

SLM Stock Up 0.4 %

SLM stock opened at $23.18 on Wednesday. SLM Co. has a twelve month low of $12.26 and a twelve month high of $23.95. The stock has a market cap of $5.04 billion, a P/E ratio of 7.22, a P/E/G ratio of 0.59 and a beta of 1.15. The company’s 50-day moving average price is $21.57 and its two-hundred day moving average price is $21.41. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 2.66.

SLM (NASDAQ:SLM) last released its quarterly earnings results on Wednesday, July 24th. The credit services provider reported $1.11 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.32. SLM had a return on equity of 41.84% and a net margin of 24.67%. The business had revenue of $783.28 million during the quarter, compared to analysts’ expectations of $368.97 million. During the same period last year, the firm posted $1.10 EPS. As a group, analysts expect that SLM Co. will post 2.84 EPS for the current year.

SLM Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, September 5th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.90%. The ex-dividend date was Thursday, September 5th. SLM’s dividend payout ratio (DPR) is 13.71%.

Insider Buying and Selling at SLM

In related news, Director Robert S. Strong sold 4,500 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $22.70, for a total transaction of $102,150.00. Following the sale, the director now owns 101,093 shares of the company’s stock, valued at $2,294,811.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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.