Principal Financial Group Inc. Purchases 79,867 Shares of SLM Co. (NASDAQ:SLM)

Principal Financial Group Inc. raised its position in shares of SLM Co. (NASDAQ:SLMGet Rating) by 8.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 1,060,105 shares of the credit services provider’s stock after acquiring an additional 79,867 shares during the quarter. Principal Financial Group Inc.’s holdings in SLM were worth $16,898,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of SLM. Quent Capital LLC lifted its position in shares of SLM by 77.7% during the first quarter. Quent Capital LLC now owns 3,678 shares of the credit services provider’s stock worth $68,000 after acquiring an additional 1,608 shares in the last quarter. US Bancorp DE lifted its position in shares of SLM by 40.9% during the second quarter. US Bancorp DE now owns 5,501 shares of the credit services provider’s stock worth $88,000 after acquiring an additional 1,597 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in shares of SLM by 22.4% during the first quarter. Parkside Financial Bank & Trust now owns 6,711 shares of the credit services provider’s stock worth $123,000 after acquiring an additional 1,226 shares in the last quarter. Brown Brothers Harriman & Co. lifted its position in shares of SLM by 1,958.3% during the first quarter. Brown Brothers Harriman & Co. now owns 7,204 shares of the credit services provider’s stock worth $132,000 after acquiring an additional 6,854 shares in the last quarter. Finally, Captrust Financial Advisors lifted its position in shares of SLM by 24.1% during the first quarter. Captrust Financial Advisors now owns 7,715 shares of the credit services provider’s stock worth $142,000 after acquiring an additional 1,498 shares in the last quarter. 98.89% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Morgan Stanley assumed coverage on SLM in a research report on Friday, October 7th. They set an “underweight” rating and a $15.00 target price on the stock. Credit Suisse Group dropped their target price on SLM to $22.00 in a research report on Thursday, October 13th. Wedbush reiterated an “outperform” rating and issued a $17.00 price objective on shares of SLM in a research report on Wednesday, September 28th. Stephens increased their price objective on SLM from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Friday, October 28th. Finally, Compass Point downgraded SLM from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $20.00 to $18.00 in a research report on Thursday, November 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $18.89.

SLM Trading Up 1.2 %

Shares of SLM stock opened at $17.16 on Thursday. The company has a market capitalization of $4.29 billion, a PE ratio of 5.59 and a beta of 1.20. The company has a debt-to-equity ratio of 3.19, a quick ratio of 1.23 and a current ratio of 1.23. SLM Co. has a 52-week low of $13.72 and a 52-week high of $20.88. The business’s fifty day moving average is $15.82 and its 200 day moving average is $16.20.

SLM (NASDAQ:SLMGet Rating) last released its earnings results on Wednesday, October 26th. The credit services provider reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.18). The firm had revenue of $369.51 million during the quarter, compared to the consensus estimate of $347.69 million. SLM had a net margin of 35.01% and a return on equity of 47.71%. During the same period in the prior year, the company earned $0.24 EPS. On average, equities research analysts anticipate that SLM Co. will post 2.51 EPS for the current fiscal year.

SLM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Friday, December 2nd will be paid a $0.11 dividend. The ex-dividend date is Thursday, December 1st. This represents a $0.44 dividend on an annualized basis and a yield of 2.56%. SLM’s dividend payout ratio is presently 14.33%.

SLM Profile

(Get Rating)

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 also offers retail deposit accounts, including certificates of deposit, money market deposit accounts, and high-yield savings accounts; and omnibus accounts, as well as credit card loans.

See Also

Want to see what other hedge funds are holding SLM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SLM Co. (NASDAQ:SLMGet Rating).

Institutional Ownership by Quarter for SLM (NASDAQ:SLM)

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