SLM Co. (NASDAQ:SLMBP) Position Increased by Shikiar Asset Management Inc.

Shikiar Asset Management Inc. boosted its position in shares of SLM Co. (NASDAQ:SLMBP) by 3.3% during the first quarter, Holdings Channel reports. The firm owned 121,983 shares of the company’s stock after buying an additional 3,890 shares during the quarter. SLM comprises approximately 2.7% of Shikiar Asset Management Inc.’s holdings, making the stock its 10th biggest position. Shikiar Asset Management Inc.’s holdings in SLM were worth $8,990,000 at the end of the most recent quarter.

SLM Stock Performance

Shares of NASDAQ:SLMBP opened at $77.22 on Monday. The stock’s fifty day simple moving average is $74.64 and its 200-day simple moving average is $74.51. SLM Co. has a 52-week low of $65.50 and a 52-week high of $83.15.

SLM Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Thursday, June 5th will be paid a $1.5815 dividend. The ex-dividend date is Thursday, June 5th. This represents a $6.33 annualized dividend and a yield of 8.19%.

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.