SLM Sees Unusually Large Options Volume (NASDAQ:SLM)

SLM Co. (NASDAQ:SLM) saw unusually large options trading on Tuesday. Stock investors acquired 5,628 put options on the company. This is an increase of approximately 458% compared to the typical daily volume of 1,008 put options.

SLM Stock Down 1.2 %

Shares of NASDAQ SLM traded down $0.38 during trading on Tuesday, reaching $30.04. 1,905,947 shares of the stock were exchanged, compared to its average volume of 2,036,569. The company has a market capitalization of $6.32 billion, a price-to-earnings ratio of 11.34, a price-to-earnings-growth ratio of 0.86 and a beta of 1.23. The business’s 50-day moving average price is $29.51 and its 200 day moving average price is $26.29. The company has a quick ratio of 1.27, a current ratio of 1.32 and a debt-to-equity ratio of 3.37. SLM has a twelve month low of $19.39 and a twelve month high of $32.65.

SLM (NASDAQ:SLM) last issued its quarterly earnings data 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 return on equity of 31.66% and a net margin of 20.73%. As a group, equities analysts forecast that SLM will post 3.07 EPS for the current fiscal year.

SLM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.13 per share. The ex-dividend date was Wednesday, March 5th. This represents a $0.52 dividend on an annualized basis and a yield of 1.73%. SLM’s dividend payout ratio (DPR) is presently 19.62%.

Insiders Place Their Bets

In related news, Director Robert S. Strong sold 40,000 shares of the business’s 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 directly owns 43,163 shares in the company, valued at approximately $1,233,166.91. The trade was a 48.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On SLM

A number of institutional investors have recently made changes to their positions in SLM. State Street Corp grew its position in shares of SLM by 0.6% in the 3rd quarter. State Street Corp now owns 6,923,576 shares of the credit services provider’s stock worth $158,342,000 after acquiring an additional 43,927 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in SLM during the third quarter worth about $3,250,000. Advantage Alpha Capital Partners LP lifted its holdings in SLM by 62.9% in the third quarter. Advantage Alpha Capital Partners LP now owns 177,840 shares of the credit services provider’s stock worth $4,067,000 after acquiring an additional 68,642 shares during the last quarter. Amundi boosted its stake in SLM by 103.4% in the fourth quarter. Amundi now owns 135,014 shares of the credit services provider’s stock valued at $3,712,000 after acquiring an additional 68,632 shares during the period. Finally, Quantbot Technologies LP bought a new position in shares of SLM during the third quarter valued at approximately $268,000. 98.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on SLM shares. Compass Point boosted their price objective on shares of SLM from $31.00 to $34.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Morgan Stanley upped their price target on SLM from $32.00 to $38.00 and gave the stock an “overweight” rating in a research note on Monday, March 10th. JPMorgan Chase & Co. raised their price objective on SLM from $29.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Keefe, Bruyette & Woods boosted their target price on SLM from $30.00 to $32.00 and gave the stock a “market perform” rating in a report on Friday, January 24th. Finally, Wells Fargo & Company raised their price target on shares of SLM from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, SLM presently has a consensus rating of “Moderate Buy” and an average price target of $31.45.

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.