Harbor Capital Advisors Inc. increased its position in SLM Co. (NASDAQ:SLM - Free Report) by 124.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 222,264 shares of the credit services provider's stock after buying an additional 123,398 shares during the period. Harbor Capital Advisors Inc. owned 0.10% of SLM worth $5,083,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC raised its holdings in shares of SLM by 117.5% in the 1st quarter. SG Americas Securities LLC now owns 73,140 shares of the credit services provider's stock worth $1,594,000 after acquiring an additional 39,519 shares during the last quarter. Texas Permanent School Fund Corp raised its stake in shares of SLM by 50.7% in the second quarter. Texas Permanent School Fund Corp now owns 290,636 shares of the credit services provider's stock worth $6,042,000 after purchasing an additional 97,832 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of SLM by 77.8% in the first quarter. BNP Paribas Financial Markets now owns 64,514 shares of the credit services provider's stock valued at $1,406,000 after purchasing an additional 28,236 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of SLM by 3.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 816,274 shares of the credit services provider's stock valued at $17,788,000 after buying an additional 26,064 shares during the last quarter. Finally, Shikiar Asset Management Inc. grew its holdings in SLM by 19.5% during the second quarter. Shikiar Asset Management Inc. now owns 211,350 shares of the credit services provider's stock worth $4,394,000 after buying an additional 34,550 shares in the last quarter. 98.94% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of brokerages have issued reports on SLM. Wells Fargo & Company upped their price objective on shares of SLM from $24.00 to $27.00 and gave the stock an "overweight" rating in a research report on Friday, July 26th. Deutsche Bank Aktiengesellschaft increased their price target on SLM from $25.00 to $29.00 and gave the company a "buy" rating in a research report on Thursday, July 25th. Royal Bank of Canada reissued an "outperform" rating and issued a $26.00 price objective on shares of SLM in a research report on Thursday, October 24th. Barclays decreased their target price on SLM from $27.00 to $26.00 and set an "overweight" rating for the company in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. cut their price target on shares of SLM from $25.00 to $24.00 and set a "neutral" rating on the stock in a report on Monday, October 7th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, SLM currently has an average rating of "Moderate Buy" and an average price target of $25.45.
Read Our Latest Report on SLM
SLM Price Performance
Shares of NASDAQ:SLM traded down $0.33 on Monday, hitting $21.37. The company's stock had a trading volume of 2,242,272 shares, compared to its average volume of 1,792,772. The company has a market capitalization of $4.54 billion, a PE ratio of 7.45, a PEG ratio of 0.93 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. The company has a 50-day simple moving average of $22.04 and a 200 day simple moving average of $21.55. SLM Co. has a 1 year low of $13.93 and a 1 year high of $23.95.
SLM (NASDAQ:SLM - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported ($0.23) earnings per share 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 company had revenue of $652.64 million for the quarter, compared to analysts' expectations of $363.40 million. During the same quarter last year, the business posted $0.11 EPS. Sell-side analysts forecast that SLM Co. will post 2.75 EPS for the current fiscal year.
SLM Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, December 5th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.43%. This is a positive change from SLM's previous quarterly dividend of $0.11. The ex-dividend date is Thursday, December 5th. SLM's payout ratio is presently 15.33%.
SLM Company Profile
(
Free Report)
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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