SLM Co. $SLMBP Shares Sold by Shikiar Asset Management Inc.

Shikiar Asset Management Inc. reduced its holdings in SLM Co. (NASDAQ:SLMBP) by 11.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 103,458 shares of the company’s stock after selling 13,025 shares during the quarter. SLM accounts for 2.0% of Shikiar Asset Management Inc.’s portfolio, making the stock its 17th largest position. Shikiar Asset Management Inc.’s holdings in SLM were worth $7,898,000 as of its most recent SEC filing.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on SLMBP shares. Cowen reissued a “buy” rating on shares of SLM in a report on Friday, December 5th. Keefe, Bruyette & Woods reissued a “market perform” rating on shares of SLM in a research note on Wednesday, December 10th. Finally, UBS Group set a $40.00 price target on SLM in a research note on Friday, December 5th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $40.00.

SLM Stock Down 1.1%

Shares of NASDAQ SLMBP opened at $74.41 on Tuesday. SLM Co. has a 12 month low of $65.50 and a 12 month high of $83.15. The business has a fifty day simple moving average of $75.16 and a 200-day simple moving average of $75.53.

SLM (NASDAQ:SLMBP) last posted its quarterly earnings data on Monday, February 14th. The company reported $1.15 earnings per share (EPS) for the quarter. The company had revenue of ($3.44) million for the quarter.

SLM Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Thursday, December 4th were paid a $1.5122 dividend. The ex-dividend date of this dividend was Thursday, December 4th. This represents a $6.05 dividend on an annualized basis and a yield of 8.1%.

About SLM

SLM Corporation, doing business as Sallie Mae, is a U.S.-based provider of private student loans, servicing, and banking products. The company specializes in originating and servicing education loans for undergraduate, graduate and professional students, as well as career and technical training programs. In addition to its core student lending business, Sallie Mae offers deposit products, credit cards and digital tools designed to help customers manage personal finances and plan for higher-education expenses.

Sallie Mae’s product suite includes fixed- and variable-rate private student loans, graduate student loans, parent loans and career training loans.