Shikiar Asset Management Inc. Has $5.64 Million Stock Position in SLM Co. (NASDAQ:SLM)

Shikiar Asset Management Inc. lowered its holdings in shares of SLM Co. (NASDAQ:SLM) by 11.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 204,350 shares of the credit services provider’s stock after selling 27,500 shares during the period. SLM comprises 1.5% of Shikiar Asset Management Inc.’s holdings, making the stock its 24th largest holding. Shikiar Asset Management Inc. owned about 0.10% of SLM worth $5,636,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of SLM. Waldron Private Wealth LLC acquired a new stake in SLM during the 3rd quarter valued at approximately $31,000. True Wealth Design LLC bought a new stake in shares of SLM in the 3rd quarter valued at $31,000. Blue Trust Inc. increased its position in shares of SLM by 358.7% during the third quarter. Blue Trust Inc. now owns 1,399 shares of the credit services provider’s stock worth $32,000 after buying an additional 1,094 shares during the period. Capital Performance Advisors LLP bought a new position in SLM during the third quarter worth $35,000. Finally, Covestor Ltd raised its stake in SLM by 110.3% during the third quarter. Covestor Ltd now owns 4,404 shares of the credit services provider’s stock worth $101,000 after buying an additional 2,310 shares during the last quarter. Institutional investors and hedge funds own 98.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. JPMorgan Chase & Co. increased their price target on SLM from $27.00 to $29.00 and gave the stock a “neutral” rating in a report on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $26.00 target price on shares of SLM in a report on Thursday, October 24th. Wedbush restated an “outperform” rating and set a $26.00 price target on shares of SLM in a report on Thursday, October 24th. Morgan Stanley raised their price target on shares of SLM from $26.00 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. Finally, Barclays dropped their price objective on shares of SLM from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $27.90.

Insider Activity at SLM

In other SLM news, Director Robert S. Strong sold 4,500 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $27.25, for a total value of $122,625.00. Following the transaction, the director now owns 83,130 shares of the company’s stock, valued at approximately $2,265,292.50. The trade was a 5.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.20% of the stock is owned by insiders.

SLM Price Performance

SLM stock opened at $27.98 on Friday. The company has a debt-to-equity ratio of 3.21, a quick ratio of 1.27 and a current ratio of 1.29. The business has a 50-day simple moving average of $26.80 and a two-hundred day simple moving average of $23.61. The company has a market capitalization of $5.94 billion, a P/E ratio of 9.75, a price-to-earnings-growth ratio of 0.73 and a beta of 1.21. SLM Co. has a 52-week low of $18.25 and a 52-week high of $28.91.

SLM (NASDAQ:SLM) last announced its earnings results on Wednesday, October 23rd. The credit services provider reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.30). The company had revenue of $652.64 million for the quarter, compared to analysts’ expectations of $363.40 million. SLM had a net margin of 22.18% and a return on equity of 35.92%. During the same period in the previous year, the firm earned $0.11 EPS. Research analysts expect that SLM Co. will post 2.72 EPS for the current fiscal year.

SLM Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Thursday, December 5th were issued a $0.13 dividend. The ex-dividend date was Thursday, December 5th. This represents a $0.52 annualized dividend and a dividend yield of 1.86%. This is an increase from SLM’s previous quarterly dividend of $0.11. SLM’s dividend payout ratio is currently 18.12%.

SLM 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.