American International Group Inc. Sells 12,908 Shares of SLM Co. (NASDAQ:SLM)

American International Group Inc. trimmed its position in shares of SLM Co. (NASDAQ:SLM) by 4.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 306,399 shares of the credit services provider’s stock after selling 12,908 shares during the period. American International Group Inc. owned about 0.14% of SLM worth $5,858,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of SLM. Sapient Capital LLC purchased a new position in shares of SLM during the fourth quarter valued at about $1,785,000. Norges Bank purchased a new position in shares of SLM during the fourth quarter valued at about $42,108,000. Parkside Financial Bank & Trust grew its holdings in SLM by 13.6% in the fourth quarter. Parkside Financial Bank & Trust now owns 10,266 shares of the credit services provider’s stock worth $196,000 after purchasing an additional 1,233 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in SLM by 2.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,610 shares of the credit services provider’s stock worth $929,000 after purchasing an additional 995 shares during the period. Finally, Hsbc Holdings PLC grew its holdings in SLM by 394.5% in the fourth quarter. Hsbc Holdings PLC now owns 54,521 shares of the credit services provider’s stock worth $1,045,000 after purchasing an additional 43,495 shares during the period. 98.94% of the stock is owned by institutional investors.

SLM Stock Up 0.7 %

Shares of SLM stock opened at $20.82 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 2.67. SLM Co. has a twelve month low of $12.26 and a twelve month high of $22.74. The company has a market cap of $4.57 billion, a price-to-earnings ratio of 6.51, a price-to-earnings-growth ratio of 0.41 and a beta of 1.16. The company’s 50 day moving average is $21.07 and its 200 day moving average is $20.16.

SLM (NASDAQ:SLM) last released its quarterly earnings results on Wednesday, April 24th. The credit services provider reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.18. SLM had a net margin of 25.15% and a return on equity of 45.65%. The business had revenue of $837.72 million for the quarter, compared to the consensus estimate of $376.43 million. During the same period last year, the firm earned $0.47 earnings per share. Research analysts anticipate that SLM Co. will post 2.76 EPS for the current year.

SLM Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Thursday, June 6th were given a $0.11 dividend. The ex-dividend date was Thursday, June 6th. This represents a $0.44 annualized dividend and a yield of 2.11%. SLM’s payout ratio is presently 13.75%.

Analysts Set New Price Targets

A number of brokerages have weighed in on SLM. Royal Bank of Canada upped their price objective on shares of SLM from $24.00 to $25.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. JPMorgan Chase & Co. increased their price target on shares of SLM from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Wells Fargo & Company increased their price target on shares of SLM from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Wedbush reiterated an “outperform” rating and set a $28.00 price target on shares of SLM in a report on Thursday, May 16th. Finally, TD Cowen increased their price target on shares of SLM from $25.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, SLM has an average rating of “Moderate Buy” and an average price target of $22.18.

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.