Holocene Advisors LP purchased a new stake in shares of SLM Co. (NASDAQ:SLM - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 46,216 shares of the credit services provider's stock, valued at approximately $1,057,000.
A number of other hedge funds have also recently bought and sold shares of the stock. Waldron Private Wealth LLC acquired a new stake in shares of SLM in the 3rd quarter valued at approximately $31,000. True Wealth Design LLC acquired a new stake in SLM in the third quarter valued at $31,000. Blue Trust Inc. grew its position in shares of SLM by 358.7% in the 3rd 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 period. Capital Performance Advisors LLP bought a new stake in shares of SLM in the 3rd quarter valued at about $35,000. Finally, International Assets Investment Management LLC bought a new stake in shares of SLM in the 2nd quarter valued at about $60,000. 98.94% of the stock is currently owned by institutional investors.
NASDAQ SLM opened at $26.57 on Friday. The company has a market cap of $5.64 billion, a price-to-earnings ratio of 9.26, a PEG ratio of 1.12 and a beta of 1.21. SLM Co. has a 1-year low of $15.95 and a 1-year high of $28.22. The company has a current ratio of 1.29, a quick ratio of 1.27 and a debt-to-equity ratio of 3.21. The company has a 50 day moving average of $23.91 and a 200-day moving average of $22.19.
SLM (NASDAQ:SLM - Get Free Report) last released its earnings results on Wednesday, October 23rd. The credit services provider reported ($0.23) earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.30). SLM had a net margin of 22.18% and a return on equity of 35.92%. The company had revenue of $652.64 million for the quarter, compared to the consensus estimate of $363.40 million. During the same quarter in the previous year, the company posted $0.11 earnings per share. On average, equities research analysts expect that SLM Co. will post 2.73 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, December 5th will be given a $0.13 dividend. The ex-dividend date is Thursday, December 5th. This is a boost from SLM's previous quarterly dividend of $0.11. This represents a $0.52 annualized dividend and a dividend yield of 1.96%. SLM's payout ratio is presently 15.33%.
A number of brokerages have weighed in on SLM. Bank of America began coverage on SLM in a research report on Wednesday, September 25th. They set a "buy" rating and a $27.00 price target on the stock. JPMorgan Chase & Co. decreased their target price on SLM from $25.00 to $24.00 and set a "neutral" rating on the stock in a report on Monday, October 7th. Barclays cut their price target on SLM from $27.00 to $26.00 and set an "overweight" rating for the company in a report on Thursday, October 24th. Wedbush reiterated an "outperform" rating and issued a $26.00 price objective on shares of SLM in a report on Thursday, October 24th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $26.00 target price on shares of SLM in a research note on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $25.45.
View Our Latest Research Report on SLM
In other news, Director Robert S. Strong sold 4,500 shares of the business's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $27.25, for a total transaction of $122,625.00. Following the completion of the transaction, the director now owns 83,130 shares of the company's stock, valued at approximately $2,265,292.50. The trade was a 5.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.20% of the stock is currently owned by insiders.
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.
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