Intech Investment Management LLC Sells 54,032 Shares of SLM Co. (NASDAQ:SLM)

Intech Investment Management LLC cut its holdings in shares of SLM Co. (NASDAQ:SLM) by 43.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 71,715 shares of the credit services provider’s stock after selling 54,032 shares during the period. Intech Investment Management LLC’s holdings in SLM were worth $1,640,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Waldron Private Wealth LLC bought a new stake in shares of SLM in the third quarter valued at about $31,000. Blue Trust Inc. lifted its holdings in shares of SLM by 358.7% in the third quarter. Blue Trust Inc. now owns 1,399 shares of the credit services provider’s stock valued at $32,000 after purchasing an additional 1,094 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of SLM in the third quarter valued at about $35,000. International Assets Investment Management LLC bought a new stake in shares of SLM in the second quarter valued at about $60,000. Finally, Covestor Ltd lifted its holdings in shares of SLM by 110.3% in the third 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 in the last quarter. 98.94% of the stock is currently owned by institutional investors.

SLM Price Performance

Shares of NASDAQ SLM opened at $27.88 on Tuesday. The business’s 50 day moving average price is $23.02 and its two-hundred day moving average price is $21.85. The company has a market cap of $5.92 billion, a PE ratio of 9.71, a price-to-earnings-growth ratio of 1.15 and a beta of 1.16. The company has a quick ratio of 1.27, a current ratio of 1.29 and a debt-to-equity ratio of 3.21. SLM Co. has a twelve month low of $14.03 and a twelve month high of $28.22.

SLM (NASDAQ:SLM) last announced its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.30). The business had revenue of $652.64 million for the quarter, compared to analyst estimates of $363.40 million. SLM had a return on equity of 35.92% and a net margin of 22.18%. During the same period last year, the firm earned $0.11 EPS. On average, analysts predict that SLM Co. will post 2.73 EPS for the current year.

SLM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, December 5th will be given a $0.13 dividend. This is an increase from SLM’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $0.52 annualized dividend and a dividend yield of 1.87%. SLM’s dividend payout ratio is presently 15.33%.

Wall Street Analysts Forecast Growth

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