MetLife Investment Management LLC Sells 3,303 Shares of SLM Co. (NASDAQ:SLM)

MetLife Investment Management LLC decreased its position in SLM Co. (NASDAQ:SLM) by 2.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 112,367 shares of the credit services provider’s stock after selling 3,303 shares during the period. MetLife Investment Management LLC’s holdings in SLM were worth $2,570,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in SLM. Waldron Private Wealth LLC purchased a new stake in SLM in the third quarter worth $31,000. Blue Trust Inc. lifted its stake in SLM by 358.7% in the third quarter. Blue Trust Inc. now owns 1,399 shares of the credit services provider’s stock worth $32,000 after acquiring an additional 1,094 shares during the period. Capital Performance Advisors LLP purchased a new stake in SLM in the third quarter worth $35,000. International Assets Investment Management LLC purchased a new stake in SLM in the second quarter worth $60,000. Finally, Covestor Ltd lifted its stake in SLM by 110.3% in the third quarter. Covestor Ltd now owns 4,404 shares of the credit services provider’s stock worth $101,000 after acquiring an additional 2,310 shares during the period. Institutional investors own 98.94% of the company’s stock.

Insider Buying and Selling

In related news, Director Robert S. Strong sold 4,500 shares of SLM stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $27.25, for a total value of $122,625.00. Following the completion of the sale, the director now directly owns 83,130 shares in the company, valued at approximately $2,265,292.50. This trade represents a 5.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is owned by corporate insiders.

SLM Price Performance

SLM opened at $26.84 on Thursday. The stock has a 50-day moving average price of $23.65 and a 200-day moving average price of $22.09. 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 cap of $5.70 billion, a PE ratio of 9.35, a P/E/G ratio of 1.13 and a beta of 1.21. SLM Co. has a 1 year low of $15.64 and a 1 year high of $28.22.

SLM (NASDAQ:SLM) last released its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.30). SLM had a return on equity of 35.92% and a net margin of 22.18%. The business had revenue of $652.64 million during the quarter, compared to the consensus estimate of $363.40 million. During the same quarter in the previous year, the business posted $0.11 earnings per share. Sell-side analysts predict that SLM Co. will post 2.73 earnings per share for the current fiscal year.

SLM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, December 5th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.94%. This is an increase from SLM’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Thursday, December 5th. SLM’s dividend payout ratio (DPR) is presently 18.12%.

Wall Street Analyst Weigh In

SLM has been the subject of a number of research analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $26.00 price target on shares of SLM in a research note on Thursday, October 24th. Bank of America began coverage on SLM in a research report on Wednesday, September 25th. They set a “buy” rating and a $27.00 price objective for the company. Barclays lowered their price objective on SLM from $27.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. JPMorgan Chase & Co. lowered their price objective on SLM from $25.00 to $24.00 and set a “neutral” rating for the company in a research report on Monday, October 7th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $26.00 price objective 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, SLM presently has an average 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.