Polaris Capital Management LLC Trims Position in SLM Co. (NASDAQ:SLM)

Polaris Capital Management LLC cut its stake in shares of SLM Co. (NASDAQ:SLM) by 4.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,590,000 shares of the credit services provider’s stock after selling 68,600 shares during the period. SLM makes up approximately 2.1% of Polaris Capital Management LLC’s investment portfolio, making the stock its 11th biggest position. Polaris Capital Management LLC’s holdings in SLM were worth $43,852,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. Waldron Private Wealth LLC purchased a new stake in shares of SLM during the third quarter worth approximately $31,000. True Wealth Design LLC acquired a new stake in SLM in the 3rd quarter valued at about $31,000. Blue Trust Inc. boosted its stake 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 valued at $32,000 after acquiring an additional 1,094 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of SLM during the third quarter worth $35,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of SLM during the 4th quarter worth $86,000. 98.94% of the stock is currently owned by institutional investors and hedge funds.

SLM Stock Performance

Shares of SLM stock opened at $29.09 on Tuesday. SLM Co. has a 12 month low of $19.27 and a 12 month high of $31.49. The firm has a market capitalization of $6.18 billion, a PE ratio of 10.98, a price-to-earnings-growth ratio of 0.81 and a beta of 1.22. The firm has a fifty day simple moving average of $27.89 and a two-hundred day simple moving average of $24.39. The company has a current ratio of 1.32, a quick ratio of 1.27 and a debt-to-equity ratio of 3.37.

SLM (NASDAQ:SLM) last issued its quarterly earnings results on Thursday, January 23rd. The credit services provider reported $0.50 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%. Analysts forecast that SLM Co. will post 3.07 EPS for the current fiscal year.

SLM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Wednesday, March 5th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.79%. The ex-dividend date is Wednesday, March 5th. SLM’s dividend payout ratio is currently 19.62%.

Analyst Upgrades and Downgrades

SLM has been the subject of a number of analyst reports. Barclays reduced their price objective on SLM from $27.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Morgan Stanley boosted their price target on shares of SLM from $26.00 to $32.00 and gave the company an “overweight” rating in a report on Thursday, December 19th. Keefe, Bruyette & Woods raised their price objective on SLM from $30.00 to $32.00 and gave the company a “market perform” rating in a research note on Friday, January 24th. Wedbush restated an “outperform” rating and set a $26.00 price target on shares of SLM in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. increased their target price on SLM from $29.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, SLM currently has an average rating of “Moderate Buy” and an average target price of $29.82.

Insider Activity at SLM

In other SLM news, Director Robert S. Strong sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $28.57, for a total transaction of $1,142,800.00. Following the completion of the transaction, the director now owns 43,163 shares in the company, valued at $1,233,166.91. The trade was a 48.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.20% of the stock is owned by insiders.

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.