Massachusetts Financial Services Co. MA Sells 74,830 Shares of SLM Co. (NASDAQ:SLM)

Massachusetts Financial Services Co. MA trimmed its position in shares of SLM Co. (NASDAQ:SLM) by 0.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,845,906 shares of the credit services provider’s stock after selling 74,830 shares during the period. Massachusetts Financial Services Co. MA owned 4.99% of SLM worth $225,486,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of SLM. Charles Schwab Investment Management Inc. boosted its holdings in shares of SLM by 5.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,726,549 shares of the credit services provider’s stock worth $33,012,000 after acquiring an additional 88,204 shares during the period. QRG Capital Management Inc. bought a new position in shares of SLM in the fourth quarter worth $191,000. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of SLM by 158.6% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 31,141 shares of the credit services provider’s stock worth $595,000 after acquiring an additional 19,101 shares during the period. Quadrant Capital Group LLC boosted its holdings in shares of SLM by 39.5% in the fourth quarter. Quadrant Capital Group LLC now owns 2,976 shares of the credit services provider’s stock worth $57,000 after acquiring an additional 843 shares during the period. Finally, Norges Bank bought a new position in shares of SLM in the fourth quarter worth $42,108,000. 98.94% of the stock is owned by institutional investors.

SLM Stock Up 1.6 %

SLM opened at $21.58 on Wednesday. The company has a market cap of $4.74 billion, a P/E ratio of 6.74, a P/E/G ratio of 0.41 and a beta of 1.15. The business’s 50-day moving average price is $21.54 and its 200-day moving average price is $21.21. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 2.66. SLM Co. has a 12 month low of $12.26 and a 12 month high of $23.95.

SLM (NASDAQ:SLM) last posted its earnings results on Wednesday, July 24th. The credit services provider reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.32. The company had revenue of $783.28 million for the quarter, compared to analysts’ expectations of $368.97 million. SLM had a return on equity of 41.84% and a net margin of 24.67%. During the same period last year, the firm earned $1.10 earnings per share. On average, equities analysts expect that SLM Co. will post 2.83 EPS for the current year.

SLM Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, September 5th were paid a $0.11 dividend. The ex-dividend date was Thursday, September 5th. This represents a $0.44 annualized dividend and a dividend yield of 2.04%. SLM’s payout ratio is presently 13.75%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. raised their price target on SLM from $23.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. TD Cowen increased their price objective on SLM from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. Royal Bank of Canada increased their price objective on SLM from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft increased their price objective on SLM from $25.00 to $29.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Keefe, Bruyette & Woods increased their price objective on SLM from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $24.00.

Insider Buying and Selling

In related news, Director Robert S. Strong sold 4,500 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $22.70, for a total value of $102,150.00. Following the sale, the director now directly owns 101,093 shares of the company’s stock, valued at $2,294,811.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is owned by insiders.

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.