Kentucky Retirement Systems Insurance Trust Fund Invests $406,000 in SLM Co. (NASDAQ:SLM)

Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of SLM Co. (NASDAQ:SLM) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 15,449 shares of the credit services provider’s stock, valued at approximately $406,000.

Several other hedge funds have also modified their holdings of the company. Creative Planning lifted its stake in SLM by 5.3% in the 3rd quarter. Creative Planning now owns 18,708 shares of the credit services provider’s stock valued at $428,000 after buying an additional 942 shares in the last quarter. Blue Trust Inc. lifted its stake in SLM by 358.7% in the 3rd quarter. Blue Trust Inc. now owns 1,399 shares of the credit services provider’s stock valued at $32,000 after buying an additional 1,094 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in 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 buying an additional 38,269 shares in the last quarter. Waldron Private Wealth LLC purchased a new position in SLM in the 3rd quarter valued at about $31,000. Finally, International Assets Investment Management LLC lifted its stake in SLM by 2,187.0% in the 3rd quarter. International Assets Investment Management LLC now owns 66,254 shares of the credit services provider’s stock valued at $1,515,000 after buying an additional 63,357 shares in the last quarter. 98.94% of the stock is owned by hedge funds and other institutional investors.

SLM Stock Down 0.0 %

Shares of NASDAQ SLM opened at $32.53 on Thursday. The company has a 50 day simple moving average of $28.52 and a 200-day simple moving average of $24.80. The company has a market capitalization of $6.91 billion, a P/E ratio of 12.28, a P/E/G ratio of 0.85 and a beta of 1.22. The company has a debt-to-equity ratio of 3.37, a current ratio of 1.32 and a quick ratio of 1.27. SLM Co. has a 1 year low of $19.39 and a 1 year high of $32.65.

SLM (NASDAQ:SLM) last posted its earnings results on Thursday, January 23rd. The credit services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.06). SLM had a net margin of 20.73% and a return on equity of 31.66%. On average, equities research analysts predict that SLM Co. will post 3.07 earnings per share for the current year.

SLM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Wednesday, March 5th will be issued a $0.13 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.52 annualized dividend and a yield of 1.60%. SLM’s dividend payout ratio (DPR) is presently 19.62%.

Insider Activity at SLM

In related news, Director Robert S. Strong sold 40,000 shares of SLM 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 completion of the sale, the director now owns 43,163 shares in the company, valued at approximately $1,233,166.91. This trade represents a 48.10 % decrease in their position. 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.

Analysts Set New Price Targets

SLM has been the subject of a number of recent research reports. Morgan Stanley increased their price objective on shares of SLM from $26.00 to $32.00 and gave the company an “overweight” rating in a report on Thursday, December 19th. Barclays increased their price objective on shares of SLM from $34.00 to $38.00 and gave the company an “overweight” rating in a report on Tuesday. Compass Point increased their price objective on shares of SLM from $31.00 to $34.00 and gave the company a “buy” rating in a report on Friday, January 24th. Keefe, Bruyette & Woods increased their price objective on shares of SLM from $30.00 to $32.00 and gave the company a “market perform” rating in a report on Friday, January 24th. Finally, Royal Bank of Canada increased their price objective on shares of SLM from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Friday, January 24th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.91.

SLM Company 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.