Algert Global LLC Sells 26,740 Shares of SLM Co. (NASDAQ:SLM)

Algert Global LLC reduced its position in shares of SLM Co. (NASDAQ:SLM - Free Report) by 43.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 34,911 shares of the credit services provider's stock after selling 26,740 shares during the quarter. Algert Global LLC's holdings in SLM were worth $798,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cerity Partners LLC raised its holdings in SLM by 150.2% in the 3rd quarter. Cerity Partners LLC now owns 56,766 shares of the credit services provider's stock worth $1,298,000 after purchasing an additional 34,079 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in SLM by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,758,057 shares of the credit services provider's stock worth $40,207,000 after purchasing an additional 15,252 shares in the last quarter. Landscape Capital Management L.L.C. bought a new position in SLM in the 3rd quarter worth $224,000. Quest Partners LLC bought a new position in SLM in the 3rd quarter worth $623,000. Finally, Empowered Funds LLC raised its holdings in SLM by 4.8% in the 3rd quarter. Empowered Funds LLC now owns 11,594 shares of the credit services provider's stock worth $265,000 after purchasing an additional 526 shares in the last quarter. 98.94% of the stock is currently owned by institutional investors.

SLM Stock Up 0.7 %

SLM stock traded up $0.18 during trading on Friday, hitting $27.38. 2,098,869 shares of the stock traded hands, compared to its average volume of 1,844,313. SLM Co. has a 1 year low of $14.64 and a 1 year high of $28.22. The firm's 50 day moving average is $23.35 and its two-hundred day moving average is $21.96. The stock has a market cap of $5.81 billion, a price-to-earnings ratio of 9.54, a price-to-earnings-growth ratio of 1.15 and a beta of 1.16. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.29 and a quick ratio of 1.27.

SLM (NASDAQ:SLM - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported ($0.23) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.30). The company had revenue of $652.64 million for the quarter, compared to analysts' expectations of $363.40 million. SLM had a net margin of 22.18% and a return on equity of 35.92%. During the same period in the previous year, the business earned $0.11 EPS. On average, sell-side analysts anticipate that SLM Co. will post 2.73 EPS for the current year.

SLM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Thursday, December 5th. This is an increase from SLM's previous quarterly dividend of $0.11. SLM's dividend payout ratio (DPR) is presently 15.33%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Barclays decreased their price objective on shares of SLM from $27.00 to $26.00 and set an "overweight" rating for the company in a report on Thursday, October 24th. Wedbush reaffirmed an "outperform" rating and issued a $26.00 target price on shares of SLM in a research report on Thursday, October 24th. Bank of America began coverage on shares of SLM in a research report on Wednesday, September 25th. They issued a "buy" rating and a $27.00 target price on the stock. JPMorgan Chase & Co. reduced their target price on shares of SLM from $25.00 to $24.00 and set a "neutral" rating on the stock in a research report on Monday, October 7th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $26.00 target price on shares of SLM in a research report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, SLM presently has a consensus rating of "Moderate Buy" and an average price target of $25.45.

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.