Franklin Resources Inc. Raises Stock Position in SLM Co. (NASDAQ:SLM)

Franklin Resources Inc. raised its holdings in shares of SLM Co. (NASDAQ:SLM - Free Report) by 35.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 415,607 shares of the credit services provider's stock after acquiring an additional 108,463 shares during the period. Franklin Resources Inc. owned approximately 0.20% of SLM worth $9,596,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Tidal Investments LLC acquired a new stake in SLM during the third quarter worth about $1,797,000. Sanctuary Advisors LLC purchased a new stake in SLM in the 3rd quarter worth approximately $655,000. Geode Capital Management LLC grew its stake in shares of SLM by 7.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,762,328 shares of the credit services provider's stock worth $108,936,000 after purchasing an additional 331,490 shares during the period. M&T Bank Corp purchased a new position in shares of SLM during the 3rd quarter valued at approximately $200,000. Finally, Barclays PLC lifted its stake in shares of SLM by 77.8% in the 3rd quarter. Barclays PLC now owns 273,785 shares of the credit services provider's stock valued at $6,261,000 after purchasing an additional 119,796 shares during the period. Institutional investors and hedge funds own 98.94% of the company's stock.

SLM Price Performance

SLM traded up $0.32 on Friday, hitting $27.79. 12,068,198 shares of the company's stock were exchanged, compared to its average volume of 1,929,859. The firm has a 50-day moving average price of $24.80 and a 200-day moving average price of $22.63. The stock has a market cap of $5.90 billion, a price-to-earnings ratio of 9.68, a P/E/G ratio of 0.85 and a beta of 1.21. The company has a current ratio of 1.29, a quick ratio of 1.27 and a debt-to-equity ratio of 3.21. SLM Co. has a fifty-two week low of $18.04 and a fifty-two week high of $28.24.

SLM (NASDAQ:SLM - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts' expectations of $363.40 million. During the same period in the prior year, the company posted $0.11 EPS. As a group, equities analysts anticipate that SLM Co. will post 2.73 earnings per share for the current year.

SLM Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Thursday, December 5th were paid a dividend of $0.13 per share. The ex-dividend date was Thursday, December 5th. This is an increase from SLM's previous quarterly dividend of $0.11. This represents a $0.52 dividend on an annualized basis and a yield of 1.87%. SLM's payout ratio is 18.12%.

Wall Street Analysts Forecast Growth

SLM has been the topic of several analyst reports. Bank of America assumed coverage on shares of 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. raised their target price on SLM from $24.00 to $27.00 and gave the company a "neutral" rating in a research report on Monday, December 9th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $26.00 price target on shares of SLM in a report on Thursday, October 24th. Wedbush reissued an "outperform" rating and issued a $26.00 price objective on shares of SLM in a report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $30.00 target price (up from $27.00) on shares of SLM in a research note on Monday, December 9th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $27.27.

Insider Buying and Selling at SLM

In other news, Director Robert S. Strong sold 4,500 shares of the 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 directly owns 83,130 shares in the company, valued at approximately $2,265,292.50. This represents a 5.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is currently owned by company insiders.

SLM Company 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.