American International Group Inc. trimmed its position in Sallie Mae (NASDAQ:SLM) by 2.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 867,273 shares of the credit services provider’s stock after selling 26,322 shares during the quarter. American International Group Inc. owned approximately 0.20% of Sallie Mae worth $9,722,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. ING Groep NV bought a new position in shares of Sallie Mae in the first quarter worth approximately $448,000. Engineers Gate Manager LP bought a new position in shares of Sallie Mae in the first quarter worth approximately $739,000. Schwab Charles Investment Management Inc. increased its position in shares of Sallie Mae by 5.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 2,432,338 shares of the credit services provider’s stock worth $27,267,000 after purchasing an additional 117,653 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of Sallie Mae by 31.8% in the first quarter. Robeco Institutional Asset Management B.V. now owns 1,450,000 shares of the credit services provider’s stock worth $16,255,000 after purchasing an additional 350,000 shares during the last quarter. Finally, Bailard Inc. bought a new position in shares of Sallie Mae in the first quarter worth approximately $430,000. 98.38% of the stock is currently owned by hedge funds and other institutional investors.
Get Sallie Mae alerts:Shares of NASDAQ SLM opened at $11.49 on Monday. Sallie Mae has a one year low of $9.65 and a one year high of $12.46. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.69. The company has a market cap of $5.00 billion, a price-to-earnings ratio of 16.18, a price-to-earnings-growth ratio of 0.58 and a beta of 1.27.
Sallie Mae (NASDAQ:SLM) last issued its quarterly earnings results on Monday, April 23rd. The credit services provider reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.03. Sallie Mae had a net margin of 20.85% and a return on equity of 17.18%. The business had revenue of $332.61 million for the quarter, compared to analysts’ expectations of $316.35 million. sell-side analysts predict that Sallie Mae will post 1.01 EPS for the current fiscal year.
In other news, Director Frank C. Puleo sold 4,585 shares of the firm’s stock in a transaction that occurred on Monday, April 30th. The shares were sold at an average price of $11.68, for a total value of $53,552.80. Following the transaction, the director now owns 96,949 shares in the company, valued at $1,132,364.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jonathan Boyles sold 64,585 shares of the firm’s stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $10.95, for a total transaction of $707,205.75. The disclosure for this sale can be found here. Insiders have sold 111,594 shares of company stock worth $1,238,178 over the last quarter. Company insiders own 0.59% of the company’s stock.
Several research analysts recently weighed in on the stock. BMO Capital Markets upped their price objective on shares of Sallie Mae from $13.00 to $14.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 25th. BidaskClub cut shares of Sallie Mae from a “buy” rating to a “hold” rating in a research report on Tuesday, May 1st. Oppenheimer set a $16.00 price target on shares of Sallie Mae and gave the company a “buy” rating in a research report on Monday, April 23rd. Zacks Investment Research cut shares of Sallie Mae from a “buy” rating to a “hold” rating in a research report on Monday, March 12th. Finally, Bank of America reduced their price target on shares of Sallie Mae from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Friday, January 26th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $14.45.
About Sallie Mae
SLM Corporation, together with its subsidiaries, operates as a saving, planning, and paying for college company in the United States. The company originates and services private education loans to students and their families. Its loan portfolio also includes federal family education loan program, personal, and other loans.
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