Envestnet Asset Management Inc. Sells 3,293 Shares of SLM Co. (NASDAQ:SLM)

Envestnet Asset Management Inc. cut its holdings in shares of SLM Co. (NASDAQ:SLM) by 1.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 168,748 shares of the credit services provider’s stock after selling 3,293 shares during the period. Envestnet Asset Management Inc. owned about 0.08% of SLM worth $3,508,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SLM. Vest Financial LLC grew its stake in shares of SLM by 23.5% in the 2nd quarter. Vest Financial LLC now owns 1,104,631 shares of the credit services provider’s stock worth $22,965,000 after acquiring an additional 210,515 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of SLM by 23.9% in the second quarter. American Century Companies Inc. now owns 4,453,521 shares of the credit services provider’s stock worth $92,589,000 after purchasing an additional 859,625 shares during the last quarter. Headlands Technologies LLC lifted its stake in SLM by 27.0% in the second quarter. Headlands Technologies LLC now owns 10,574 shares of the credit services provider’s stock worth $220,000 after acquiring an additional 2,245 shares during the period. LGT Fund Management Co Ltd. bought a new position in shares of SLM during the second quarter valued at $208,000. Finally, Texas Permanent School Fund Corp increased its holdings in SLM by 50.7% in the 2nd quarter. Texas Permanent School Fund Corp now owns 290,636 shares of the credit services provider’s stock worth $6,042,000 after buying an additional 97,832 shares in the last quarter. Institutional investors and hedge funds own 98.94% of the company’s stock.

Analyst Ratings Changes

SLM has been the topic of a number of recent research reports. Wells Fargo & Company upped their price objective on SLM from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Deutsche Bank Aktiengesellschaft raised their target price on SLM from $25.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. lifted their price objective on SLM from $23.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Keefe, Bruyette & Woods lifted their price target on shares of SLM from $25.00 to $27.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, Royal Bank of Canada boosted their price target 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. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, SLM presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

Insider Activity at SLM

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

SLM Stock Up 0.1 %

SLM stock opened at $21.99 on Thursday. The stock has a 50-day simple moving average of $21.40 and a two-hundred day simple moving average of $21.31. The firm has a market capitalization of $4.78 billion, a PE ratio of 6.87, a PEG ratio of 0.59 and a beta of 1.15. SLM Co. has a twelve month low of $12.26 and a twelve month high of $23.95. 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 issued 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 company had revenue of $783.28 million for the quarter, compared to analysts’ expectations of $368.97 million. During the same period in the prior year, the firm earned $1.10 earnings per share. On average, equities analysts predict that SLM Co. will post 2.83 EPS for the current fiscal year.

SLM Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, September 5th were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date was Thursday, September 5th. SLM’s dividend payout ratio (DPR) is 13.75%.

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.