Algert Global LLC Sells 26,740 Shares of SLM Co. (NASDAQ:SLM)

Algert Global LLC decreased its holdings in SLM Co. (NASDAQ:SLM) by 43.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,911 shares of the credit services provider’s stock after selling 26,740 shares during the quarter. Algert Global LLC’s holdings in SLM were worth $798,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. O Shaughnessy Asset Management LLC increased its position in SLM by 9.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 11,017 shares of the credit services provider’s stock valued at $240,000 after purchasing an additional 990 shares during the period. Price T Rowe Associates Inc. MD increased 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 worth $17,788,000 after buying an additional 26,064 shares during the period. Janus Henderson Group PLC raised its stake in SLM by 114.6% during the first quarter. Janus Henderson Group PLC now owns 228,239 shares of the credit services provider’s stock worth $4,971,000 after buying an additional 121,886 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in SLM by 6.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 120,732 shares of the credit services provider’s stock valued at $2,595,000 after buying an additional 6,837 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its position in SLM by 208.2% during the second quarter. Harbor Capital Advisors Inc. now owns 98,866 shares of the credit services provider’s stock valued at $2,055,000 after acquiring an additional 66,789 shares during the last quarter. 98.94% of the stock is currently owned by institutional investors and hedge funds.

SLM Trading Up 0.7 %

SLM opened at $27.38 on Friday. SLM Co. has a fifty-two week low of $14.64 and a fifty-two week high of $28.22. The firm has a market capitalization of $5.81 billion, a PE ratio of 9.48, a P/E/G ratio of 1.15 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’s 50-day moving average is $23.35 and its 200 day moving average is $21.96.

SLM (NASDAQ:SLM) last posted its earnings results on Wednesday, October 23rd. The credit services provider reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates 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 quarter in the prior year, the business earned $0.11 EPS. As a group, research analysts predict that SLM Co. will post 2.73 earnings per share for the current fiscal year.

SLM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, December 5th will be paid a $0.13 dividend. This is a positive change from SLM’s previous quarterly dividend of $0.11. The ex-dividend date is Thursday, December 5th. This represents a $0.52 annualized dividend and a dividend yield of 1.90%. SLM’s dividend payout ratio is presently 15.33%.

Analysts Set New Price Targets

Several brokerages recently commented on SLM. JPMorgan Chase & Co. cut their target price on SLM from $25.00 to $24.00 and set a “neutral” rating on the stock in a research report on Monday, October 7th. Bank of America started coverage on shares of SLM in a research report on Wednesday, September 25th. They set a “buy” rating and a $27.00 price objective for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $26.00 target price on shares of SLM in a research report on Thursday, October 24th. Wedbush restated an “outperform” rating and issued a $26.00 price target on shares of SLM in a report on Thursday, October 24th. Finally, Barclays dropped their price objective on shares of SLM from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $25.45.

SLM Company Profile

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.