Holocene Advisors LP Takes Position in SLM Co. (NASDAQ:SLM)

Holocene Advisors LP bought a new position in shares of SLM Co. (NASDAQ:SLM - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 46,216 shares of the credit services provider's stock, valued at approximately $1,057,000.

Several other institutional investors also recently modified their holdings of SLM. Waldron Private Wealth LLC bought a new position in shares of SLM in the third quarter valued at $31,000. True Wealth Design LLC bought a new position in shares of SLM in the third quarter valued at $31,000. Blue Trust Inc. grew its position in SLM by 358.7% during 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 position in SLM during the 3rd quarter worth approximately $35,000. Finally, International Assets Investment Management LLC purchased a new position in SLM during the 2nd quarter worth approximately $60,000. Institutional investors own 98.94% of the company's stock.

Wall Street Analysts Forecast Growth

SLM has been the topic of several research analyst reports. Bank of America initiated coverage on shares of SLM in a research report on Wednesday, September 25th. They set a "buy" rating and a $27.00 price objective on the stock. JPMorgan Chase & Co. lowered their price objective 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. Wedbush reiterated an "outperform" rating and set a $26.00 price objective on shares of SLM in a research report on Thursday, October 24th. Barclays lowered their price objective on shares of SLM from $27.00 to $26.00 and set an "overweight" rating on the stock in a research report on Thursday, October 24th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $26.00 price objective on shares of SLM in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $25.45.

SLM Stock Up 1.1 %

NASDAQ:SLM traded up $0.30 during trading hours on Friday, reaching $26.57. The company's stock had a trading volume of 1,971,588 shares, compared to its average volume of 2,308,870. The company has a market cap of $5.64 billion, a price-to-earnings ratio of 9.26, a price-to-earnings-growth ratio of 1.14 and a beta of 1.21. SLM Co. has a one year low of $15.95 and a one year high of $28.22. The business's 50-day moving average is $23.91 and its 200-day moving average is $22.20. 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 issued its quarterly earnings data 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 business had revenue of $652.64 million during the quarter, compared to the consensus estimate of $363.40 million. SLM had a return on equity of 35.92% and a net margin of 22.18%. During the same quarter in the prior year, the company posted $0.11 earnings per share. Equities research analysts predict that SLM Co. will post 2.73 EPS for the current year.

SLM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, December 5th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This is a boost from SLM's previous quarterly dividend of $0.11. This represents a $0.52 dividend on an annualized basis and a yield of 1.96%. SLM's dividend payout ratio is currently 15.33%.

Insiders Place Their Bets

In other SLM news, Director Robert S. Strong sold 4,500 shares of the business's stock in a transaction on Monday, December 2nd. The shares were 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 $2,265,292.50. The trade was a 5.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.20% of the company's stock.

About SLM

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.