Jump Financial LLC Sells 159,140 Shares of SLM Co. (NASDAQ:SLM)

Jump Financial LLC cut its holdings in SLM Co. (NASDAQ:SLMFree Report) by 60.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 103,757 shares of the credit services provider’s stock after selling 159,140 shares during the period. Jump Financial LLC’s holdings in SLM were worth $1,984,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Goldentree Asset Management LP raised its stake in SLM by 9.1% in the third quarter. Goldentree Asset Management LP now owns 4,282,732 shares of the credit services provider’s stock valued at $58,331,000 after purchasing an additional 357,235 shares in the last quarter. Assenagon Asset Management S.A. raised its position in SLM by 967.5% during the third quarter. Assenagon Asset Management S.A. now owns 2,923,491 shares of the credit services provider’s stock valued at $39,818,000 after purchasing an additional 2,649,626 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of SLM by 8.9% in the 3rd quarter. American Century Companies Inc. now owns 2,570,065 shares of the credit services provider’s stock valued at $35,004,000 after purchasing an additional 209,632 shares in the last quarter. Polaris Capital Management LLC raised its holdings in shares of SLM by 34.1% during the 4th quarter. Polaris Capital Management LLC now owns 2,445,400 shares of the credit services provider’s stock worth $46,756,000 after buying an additional 622,400 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in SLM by 5.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,726,549 shares of the credit services provider’s stock valued at $33,012,000 after buying an additional 88,204 shares in the last quarter. 98.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SLM shares. Wedbush increased their price target on SLM from $26.00 to $28.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. upped their price objective on SLM from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. Wells Fargo & Company upped their price target on shares of SLM from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Royal Bank of Canada boosted their price objective on shares of SLM from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Finally, Citigroup raised SLM from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $14.00 to $23.00 in a report on Tuesday, January 16th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $21.32.

Check Out Our Latest Stock Analysis on SLM

Insider Transactions at SLM

In related news, SVP Jonathan Boyles sold 94,078 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $20.72, for a total value of $1,949,296.16. Following the transaction, the senior vice president now owns 52,751 shares of the company’s stock, valued at $1,093,000.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.91% of the stock is owned by insiders.

SLM Price Performance

Shares of NASDAQ SLM opened at $21.49 on Tuesday. The stock has a fifty day moving average of $21.25 and a 200-day moving average of $18.95. The stock has a market cap of $4.72 billion, a PE ratio of 6.72, a price-to-earnings-growth ratio of 0.44 and a beta of 1.17. The company has a debt-to-equity ratio of 2.67, a quick ratio of 1.23 and a current ratio of 1.23. SLM Co. has a fifty-two week low of $12.26 and a fifty-two week high of $22.74.

SLM (NASDAQ:SLMGet Free Report) last released its quarterly earnings data on Wednesday, April 24th. The credit services provider reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.18. SLM had a net margin of 25.15% and a return on equity of 45.65%. The company had revenue of $837.72 million during the quarter, compared to analyst estimates of $376.43 million. During the same period last year, the business earned $0.47 earnings per share. Equities research analysts anticipate that SLM Co. will post 2.75 earnings per share for the current year.

SLM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Thursday, June 6th will be issued a $0.11 dividend. The ex-dividend date is Thursday, June 6th. This represents a $0.44 annualized dividend and a dividend yield of 2.05%. SLM’s payout ratio is currently 13.75%.

SLM announced that its Board of Directors has initiated a share buyback plan on Wednesday, January 24th that allows the company to repurchase $650.00 million in shares. This repurchase authorization allows the credit services provider to reacquire up to 14.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

SLM Profile

(Free Report)

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.

Recommended Stories

Institutional Ownership by Quarter for SLM (NASDAQ:SLM)

Receive News & Ratings for SLM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SLM and related companies with MarketBeat.com's FREE daily email newsletter.