Edgestream Partners L.P. Makes New $3.25 Million Investment in SLM Co. (NASDAQ:SLM)

Edgestream Partners L.P. purchased a new position in SLM Co. (NASDAQ:SLM - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 142,122 shares of the credit services provider's stock, valued at approximately $3,250,000. Edgestream Partners L.P. owned about 0.07% of SLM as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the company. Waldron Private Wealth LLC bought a new position in shares of SLM during the third quarter valued at approximately $31,000. Blue Trust Inc. raised its holdings in SLM by 358.7% in the 3rd quarter. Blue Trust Inc. now owns 1,399 shares of the credit services provider's stock worth $32,000 after purchasing an additional 1,094 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of SLM in the 3rd quarter worth about $35,000. International Assets Investment Management LLC bought a new stake in shares of SLM during the 2nd quarter valued at about $60,000. Finally, Covestor Ltd increased its position in shares of SLM by 110.3% during the third quarter. Covestor Ltd now owns 4,404 shares of the credit services provider's stock valued at $101,000 after buying an additional 2,310 shares during the period. Hedge funds and other institutional investors own 98.94% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on SLM shares. Royal Bank of Canada restated an "outperform" rating and issued a $26.00 price objective on shares of SLM in a report on Thursday, October 24th. Bank of America started 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. Barclays decreased their price objective on SLM from $27.00 to $26.00 and set an "overweight" rating for the company in a report on Thursday, October 24th. Wedbush reissued an "outperform" rating and set a $26.00 price objective on shares of SLM in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. decreased their price target on shares of SLM from $25.00 to $24.00 and set a "neutral" rating for the company in a research note on Monday, October 7th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, SLM has a consensus rating of "Moderate Buy" and an average price target of $25.45.

SLM Stock Down 3.0 %

SLM stock traded down $0.82 during trading hours on Monday, hitting $26.56. The stock had a trading volume of 3,775,930 shares, compared to its average volume of 1,852,639. SLM Co. has a 12-month low of $15.64 and a 12-month high of $28.22. The stock has a market capitalization of $5.64 billion, a P/E ratio of 9.54, a price-to-earnings-growth ratio of 1.16 and a beta of 1.16. The stock's 50-day moving average price is $23.46 and its 200-day moving average price is $22.01. The company has a quick ratio of 1.27, a current ratio of 1.29 and a debt-to-equity ratio of 3.21.

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). SLM had a net margin of 22.18% and a return on equity of 35.92%. The business had revenue of $652.64 million for the quarter, compared to the consensus estimate of $363.40 million. During the same period in the previous year, the company earned $0.11 earnings per share. Equities research analysts anticipate that SLM Co. will post 2.73 EPS for the current fiscal 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 paid a $0.13 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This is a positive change from SLM's previous quarterly dividend of $0.11. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.96%. SLM's payout ratio is currently 15.33%.

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.