Thrivent Financial for Lutherans Sells 1,999 Shares of SLM Co. (NASDAQ:SLM)

Thrivent Financial for Lutherans reduced its position in SLM Co. (NASDAQ:SLM) by 3.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 51,089 shares of the credit services provider’s stock after selling 1,999 shares during the period. Thrivent Financial for Lutherans’ holdings in SLM were worth $1,168,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Waldron Private Wealth LLC bought a new stake in shares of SLM in the third quarter valued at approximately $31,000. Blue Trust Inc. raised its holdings in SLM by 358.7% during the 3rd quarter. Blue Trust Inc. now owns 1,399 shares of the credit services provider’s stock valued at $32,000 after acquiring an additional 1,094 shares during the period. Capital Performance Advisors LLP purchased a new stake in shares of SLM during the third quarter worth $35,000. International Assets Investment Management LLC bought a new position in shares of SLM in the second quarter worth $60,000. Finally, Covestor Ltd grew its position in shares of SLM by 110.3% in the third quarter. Covestor Ltd now owns 4,404 shares of the credit services provider’s stock valued at $101,000 after purchasing an additional 2,310 shares in the last quarter. 98.94% of the stock is owned by hedge funds and other institutional investors.

SLM Price Performance

Shares of NASDAQ:SLM opened at $27.38 on Monday. The company’s fifty day moving average price is $23.46 and its 200-day moving average price is $22.01. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.29 and a quick ratio of 1.27. The firm has a market capitalization of $5.81 billion, a price-to-earnings ratio of 9.54, a PEG ratio of 1.16 and a beta of 1.16. SLM Co. has a one year low of $14.64 and a one year high of $28.22.

SLM (NASDAQ:SLM) last released its earnings results on Wednesday, October 23rd. The credit services provider reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.30). SLM had a net margin of 22.18% and a return on equity of 35.92%. The firm had revenue of $652.64 million during the quarter, compared to the consensus estimate of $363.40 million. During the same period in the prior year, the company earned $0.11 EPS. On average, equities research analysts anticipate that SLM Co. will post 2.73 earnings per share for the current fiscal year.

SLM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, December 5th will be given a $0.13 dividend. This is an increase from SLM’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.52 dividend on an annualized basis and a yield of 1.90%. SLM’s payout ratio is presently 15.33%.

Analysts Set New Price Targets

Several brokerages have commented on SLM. Bank of America initiated coverage on SLM in a research note on Wednesday, September 25th. They issued a “buy” rating and a $27.00 target price for the company. JPMorgan Chase & Co. lowered their price target on shares of SLM from $25.00 to $24.00 and set a “neutral” rating on the stock in a report on Monday, October 7th. Barclays reduced their price objective on shares of SLM from $27.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Wedbush reiterated an “outperform” rating and issued a $26.00 target price on shares of SLM in a research note on Thursday, October 24th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $26.00 price target on shares of SLM in a research report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, SLM presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.45.

About SLM

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.