Allianz Asset Management GmbH Sells 103,810 Shares of SLM Co. (NASDAQ:SLM)

Allianz Asset Management GmbH cut its stake in shares of SLM Co. (NASDAQ:SLM) by 3.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,731,403 shares of the credit services provider’s stock after selling 103,810 shares during the quarter. Allianz Asset Management GmbH owned approximately 1.29% of SLM worth $75,332,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of SLM. Creative Planning raised its holdings in shares of SLM by 5.3% in the third quarter. Creative Planning now owns 18,708 shares of the credit services provider’s stock valued at $428,000 after acquiring an additional 942 shares in the last quarter. Blue Trust Inc. increased its position in SLM by 358.7% during the 3rd 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 during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of SLM by 294.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 51,248 shares of the credit services provider’s stock valued at $1,172,000 after purchasing an additional 38,269 shares in the last quarter. Waldron Private Wealth LLC purchased a new stake in shares of SLM in the 3rd quarter worth approximately $31,000. Finally, International Assets Investment Management LLC boosted its stake in shares of SLM by 2,187.0% during the third quarter. International Assets Investment Management LLC now owns 66,254 shares of the credit services provider’s stock valued at $1,515,000 after purchasing an additional 63,357 shares in the last quarter. Institutional investors own 98.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SLM. Morgan Stanley boosted their price objective on shares of SLM from $26.00 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday, December 19th. Barclays boosted their price target on SLM from $34.00 to $38.00 and gave the stock an “overweight” rating in a research report on Tuesday. Keefe, Bruyette & Woods upped their price objective on SLM from $30.00 to $32.00 and gave the stock a “market perform” rating in a research note on Friday, January 24th. Wells Fargo & Company lifted their target price on SLM from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Finally, Compass Point increased their price target on shares of SLM from $31.00 to $34.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, SLM has an average rating of “Moderate Buy” and a consensus price target of $30.91.

SLM Stock Performance

SLM opened at $30.68 on Friday. The firm’s 50-day moving average price is $28.68 and its 200-day moving average price is $24.92. The company has a market cap of $6.51 billion, a P/E ratio of 11.58, a price-to-earnings-growth ratio of 0.87 and a beta of 1.22. The company has a quick ratio of 1.27, a current ratio of 1.32 and a debt-to-equity ratio of 3.37. SLM Co. has a 52-week low of $19.39 and a 52-week high of $32.65.

SLM (NASDAQ:SLM) last issued its quarterly earnings results on Thursday, January 23rd. The credit services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.06). SLM had a net margin of 20.73% and a return on equity of 31.66%. As a group, equities analysts anticipate that SLM Co. will post 3.07 EPS for the current fiscal year.

SLM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Wednesday, March 5th will be paid a $0.13 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.52 dividend on an annualized basis and a yield of 1.69%. SLM’s dividend payout ratio (DPR) is 19.62%.

Insiders Place Their Bets

In related news, Director Robert S. Strong sold 40,000 shares of the stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $28.57, for a total value of $1,142,800.00. Following the transaction, the director now owns 43,163 shares in the company, valued at approximately $1,233,166.91. This represents a 48.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is currently owned by insiders.

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.