Barclays PLC boosted its holdings in shares of SLM Co. (NASDAQ:SLM - Free Report) by 77.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 273,785 shares of the credit services provider's stock after acquiring an additional 119,796 shares during the period. Barclays PLC owned approximately 0.13% of SLM worth $6,261,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Waldron Private Wealth LLC bought a new stake in SLM in the 3rd quarter valued at $31,000. True Wealth Design LLC acquired a new stake in shares of SLM in the 3rd quarter valued at about $31,000. Blue Trust Inc. lifted its holdings in shares of SLM by 358.7% in the third 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 during the third quarter worth about $35,000. Finally, International Assets Investment Management LLC bought a new position in shares of SLM during the second quarter worth about $60,000. 98.94% of the stock is owned by institutional investors and hedge funds.
In other news, Director Robert S. Strong sold 4,500 shares of SLM 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 completion of the sale, the director now directly owns 83,130 shares in the company, valued at approximately $2,265,292.50. The trade was a 5.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.20% of the company's stock.
Shares of SLM opened at $27.47 on Friday. The company's 50-day moving average is $24.71 and its 200-day moving average is $22.58. 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 firm has a market capitalization of $5.83 billion, a PE ratio of 9.57, a PEG ratio of 0.85 and a beta of 1.21. SLM Co. has a fifty-two week low of $18.04 and a fifty-two week high of $28.22.
SLM (NASDAQ:SLM - Get Free Report) last released its quarterly 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 company had revenue of $652.64 million during the quarter, compared to the consensus estimate of $363.40 million. During the same period in the prior year, the company earned $0.11 earnings per share. Equities analysts forecast that SLM Co. will post 2.73 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders 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 1.89%. This is a positive change from SLM's previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Thursday, December 5th. SLM's dividend payout ratio is currently 18.12%.
Several equities analysts have recently weighed in on SLM shares. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $30.00 price target (up from $27.00) on shares of SLM in a research note on Monday, December 9th. JPMorgan Chase & Co. raised their target price on shares of 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 reissued an "outperform" rating and set a $26.00 price target on shares of SLM in a research report on Thursday, October 24th. 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, Bank of America initiated coverage on SLM in a report on Wednesday, September 25th. They set a "buy" rating and a $27.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $27.27.
Check Out Our Latest Report on 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.
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