Veery Capital LLC Sells 2,735 Shares of SLM Co. (NASDAQ:SLM)

Veery Capital LLC decreased its position in SLM Co. (NASDAQ:SLM) by 25.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,035 shares of the credit services provider’s stock after selling 2,735 shares during the period. Veery Capital LLC’s holdings in SLM were worth $236,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of SLM. Private Trust Co. NA lifted its stake in SLM by 86.4% during the 4th quarter. Private Trust Co. NA now owns 971 shares of the credit services provider’s stock valued at $27,000 after acquiring an additional 450 shares during the period. Blue Trust Inc. lifted its stake in SLM by 32.2% during the 4th quarter. Blue Trust Inc. now owns 1,849 shares of the credit services provider’s stock valued at $51,000 after acquiring an additional 450 shares during the period. Wilmington Savings Fund Society FSB bought a new position in SLM during the 4th quarter valued at about $86,000. Plato Investment Management Ltd bought a new position in SLM during the 4th quarter valued at about $114,000. Finally, Jones Financial Companies Lllp lifted its stake in SLM by 489.7% during the 4th quarter. Jones Financial Companies Lllp now owns 4,476 shares of the credit services provider’s stock valued at $123,000 after acquiring an additional 3,717 shares during the period. Institutional investors own 98.94% of the company’s stock.

SLM Price Performance

Shares of NASDAQ:SLM opened at $32.38 on Friday. The firm’s 50 day moving average price is $29.73 and its 200-day moving average price is $28.76. SLM Co. has a twelve month low of $19.39 and a twelve month high of $34.55. The company has a quick ratio of 1.27, a current ratio of 1.32 and a debt-to-equity ratio of 3.37. The stock has a market capitalization of $6.80 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 0.86 and a beta of 1.05.

SLM (NASDAQ:SLM) last issued its quarterly earnings data on Thursday, April 24th. The credit services provider reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.21. SLM had a net margin of 20.73% and a return on equity of 31.66%. The firm had revenue of $374.97 million for the quarter, compared to analysts’ expectations of $359.83 million. During the same quarter in the prior year, the business earned $1.27 EPS. The business’s quarterly revenue was up 3.5% on a year-over-year basis. Equities research analysts expect that SLM Co. will post 3.07 EPS for the current year.

SLM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Thursday, June 5th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend is Thursday, June 5th. SLM’s payout ratio is 18.71%.

Insiders Place Their Bets

In other SLM news, Director Robert S. Strong sold 3,000 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $31.15, for a total transaction of $93,450.00. Following the completion of the sale, the director now directly owns 35,195 shares of the company’s stock, valued at $1,096,324.25. This trade represents a 7.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Wells Fargo & Company upped their target price on shares of SLM from $34.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, May 14th. JPMorgan Chase & Co. lowered their target price on shares of SLM from $30.00 to $27.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Barclays upped their target price on shares of SLM from $34.00 to $38.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $40.00 price objective (up previously from $33.00) on shares of SLM in a research note on Wednesday, May 21st. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.82.

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.