Perpetual Ltd Invests $6.49 Million in SLM Co. (NASDAQ:SLM)

Perpetual Ltd bought a new position in shares of SLM Co. (NASDAQ:SLM - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 235,241 shares of the credit services provider's stock, valued at approximately $6,488,000. Perpetual Ltd owned 0.11% of SLM at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. True Wealth Design LLC acquired a new position in SLM in the third quarter valued at approximately $31,000. Waldron Private Wealth LLC bought a new stake in shares of SLM in the 3rd quarter valued at $31,000. Blue Trust Inc. lifted its position in shares of SLM by 358.7% during the 3rd quarter. Blue Trust Inc. now owns 1,399 shares of the credit services provider's stock valued at $32,000 after acquiring an additional 1,094 shares during the period. Capital Performance Advisors LLP bought a new position in SLM during the third quarter worth $35,000. Finally, Covestor Ltd grew its holdings in SLM by 110.3% in the third quarter. Covestor Ltd now owns 4,404 shares of the credit services provider's stock worth $101,000 after purchasing an additional 2,310 shares during the period. 98.94% of the stock is currently owned by institutional investors.

SLM Stock Performance

SLM stock traded up $0.51 during midday trading on Wednesday, reaching $29.08. The stock had a trading volume of 3,093,366 shares, compared to its average volume of 2,620,174. The company has a quick ratio of 1.27, a current ratio of 1.29 and a debt-to-equity ratio of 3.21. The firm has a market capitalization of $6.17 billion, a PE ratio of 10.13, a P/E/G ratio of 0.76 and a beta of 1.21. SLM Co. has a 12 month low of $18.84 and a 12 month high of $29.20. The firm's 50-day moving average price is $27.07 and its 200 day moving average price is $23.79.

SLM (NASDAQ:SLM - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.30). SLM had a return on equity of 35.92% and a net margin of 22.18%. The business had revenue of $652.64 million during the quarter, compared to the consensus estimate of $363.40 million. During the same period last year, the business posted $0.11 earnings per share. As a group, research analysts predict that SLM Co. will post 2.72 earnings per share for the current fiscal year.

SLM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Wednesday, March 5th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.79%. SLM's dividend payout ratio is presently 18.12%.

Analyst Ratings Changes

A number of research firms have recently issued reports on SLM. JPMorgan Chase & Co. increased their price objective on shares of SLM from $27.00 to $29.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 14th. Royal Bank of Canada reiterated an "outperform" rating and issued a $26.00 target price on shares of SLM in a report on Thursday, October 24th. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $30.00 target price (up from $27.00) on shares of SLM in a research report on Monday, December 9th. 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. Finally, Wedbush reiterated an "outperform" rating and set a $26.00 price target on shares of SLM in a report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $27.90.

Insider Buying and Selling at SLM

In related news, Director Robert S. Strong sold 4,500 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $27.25, for a total value of $122,625.00. Following the sale, the director now directly owns 83,130 shares of the company's stock, valued at $2,265,292.50. This trade represents a 5.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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.