Mutual of America Capital Management LLC Trims Position in SLM Co. (NASDAQ:SLM)

Mutual of America Capital Management LLC lowered its position in SLM Co. (NASDAQ:SLM) by 6.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 117,528 shares of the credit services provider’s stock after selling 8,271 shares during the quarter. Mutual of America Capital Management LLC owned about 0.06% of SLM worth $2,688,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SLM. Waldron Private Wealth LLC purchased a new stake in shares of SLM in the 3rd quarter valued at approximately $31,000. Blue Trust Inc. grew its position 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 acquired a new stake in SLM during the third quarter worth $35,000. International Assets Investment Management LLC purchased a new stake in SLM in the second quarter valued at $60,000. Finally, Covestor Ltd lifted its stake in shares of SLM by 110.3% in the 3rd 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 during the last quarter. 98.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. 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. JPMorgan Chase & Co. dropped their price target on shares of SLM from $25.00 to $24.00 and set a “neutral” rating for the company in a research report on Monday, October 7th. Bank of America started coverage on shares of SLM in a report on Wednesday, September 25th. They issued a “buy” rating and a $27.00 price objective on the stock. Wedbush reiterated an “outperform” rating and issued a $26.00 target price on shares of SLM in a report on Thursday, October 24th. Finally, Barclays decreased their price target on SLM from $27.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, SLM currently has a consensus rating of “Moderate Buy” and an average price target of $25.45.

SLM Price Performance

SLM stock opened at $27.13 on Friday. The business’s 50-day moving average is $22.89 and its two-hundred day moving average is $21.80. 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 $5.76 billion, a P/E ratio of 9.45, a P/E/G ratio of 1.05 and a beta of 1.16. SLM Co. has a 1 year low of $14.03 and a 1 year high of $27.18.

SLM (NASDAQ:SLM) last issued its earnings results on Wednesday, October 23rd. The credit services provider reported ($0.23) earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $363.40 million. During the same period last year, the business earned $0.11 EPS. 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 paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.92%. This is an increase from SLM’s previous quarterly dividend of $0.11. SLM’s payout ratio is presently 15.33%.

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.