HighTower Advisors LLC boosted its holdings in shares of SLM Co. (NASDAQ:SLM - Free Report) by 136.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 38,618 shares of the credit services provider's stock after buying an additional 22,315 shares during the quarter. HighTower Advisors LLC's holdings in SLM were worth $884,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. True Wealth Design LLC acquired a new stake in SLM during the third quarter worth about $31,000. Waldron Private Wealth LLC acquired a new stake in shares of SLM during the 3rd quarter worth approximately $31,000. Blue Trust Inc. increased its holdings 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 purchasing an additional 1,094 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of SLM in the 3rd quarter valued at $35,000. Finally, International Assets Investment Management LLC acquired a new position in shares of SLM in the 2nd quarter valued at $60,000. 98.94% of the stock is currently owned by institutional investors and hedge funds.
SLM Stock Down 2.9 %
Shares of NASDAQ SLM traded down $0.81 during mid-day trading on Wednesday, hitting $26.87. The company had a trading volume of 5,333,097 shares, compared to its average volume of 1,878,763. The company has a market capitalization of $5.71 billion, a PE ratio of 9.36, a price-to-earnings-growth ratio of 0.85 and a beta of 1.21. The business's 50-day simple moving average is $24.62 and its 200 day simple moving average is $22.54. SLM Co. has a 1-year low of $18.04 and a 1-year high of $28.22. 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 earnings results 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 firm had revenue of $652.64 million during the quarter, compared to analyst estimates of $363.40 million. During the same period last year, the business earned $0.11 EPS. On average, analysts predict that SLM Co. will post 2.73 earnings per share for the current year.
SLM Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Thursday, December 5th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.94%. This is an increase from SLM's previous quarterly dividend of $0.11. The ex-dividend date was Thursday, December 5th. SLM's dividend payout ratio is 18.12%.
Insider Buying and Selling at SLM
In other news, Director Robert S. Strong sold 4,500 shares of the business's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $27.25, for a total value of $122,625.00. Following the completion of the sale, the director now directly owns 83,130 shares of the company's stock, valued at approximately $2,265,292.50. The trade was a 5.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.20% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on the company. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $30.00 target price (up previously from $27.00) on shares of SLM in a research report on Monday, December 9th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $26.00 price objective on shares of SLM in a report on Thursday, October 24th. JPMorgan Chase & Co. boosted their target price on shares of SLM from $24.00 to $27.00 and gave the stock a "neutral" rating in a research note on Monday, December 9th. Barclays decreased their price target on shares of SLM from $27.00 to $26.00 and set an "overweight" rating on the stock in a research note on Thursday, October 24th. Finally, Wedbush reiterated an "outperform" rating and set a $26.00 price objective on shares of SLM in a research note on Thursday, October 24th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, SLM currently has a consensus rating of "Moderate Buy" and an average target price of $26.80.
Read Our Latest Stock Analysis on SLM
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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