Janus Henderson Group PLC Trims Stock Position in SLM Co. (NASDAQ:SLM)

Janus Henderson Group PLC lowered its position in shares of SLM Co. (NASDAQ:SLM) by 3.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 133,653 shares of the credit services provider’s stock after selling 4,454 shares during the period. Janus Henderson Group PLC owned 0.06% of SLM worth $3,058,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. HighTower Advisors LLC raised its holdings in SLM by 136.9% during the 3rd quarter. HighTower Advisors LLC now owns 38,618 shares of the credit services provider’s stock valued at $884,000 after buying an additional 22,315 shares during the last quarter. Holocene Advisors LP bought a new position in SLM in the 3rd quarter worth $1,057,000. True Wealth Design LLC purchased a new stake in shares of SLM in the 3rd quarter worth about $31,000. Edgestream Partners L.P. purchased a new stake in shares of SLM in the 3rd quarter worth about $3,250,000. Finally, Verition Fund Management LLC grew its position in shares of SLM by 26.8% in the 3rd quarter. Verition Fund Management LLC now owns 45,516 shares of the credit services provider’s stock worth $1,041,000 after buying an additional 9,612 shares during the period. Hedge funds and other institutional investors own 98.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $30.00 price objective (up from $27.00) on shares of SLM in a research report on Monday. Wedbush reaffirmed an “outperform” rating and set a $26.00 price target on shares of SLM in a report on Thursday, October 24th. Bank of America initiated coverage on shares of SLM in a research note on Wednesday, September 25th. They issued a “buy” rating and a $27.00 price objective on the stock. Barclays decreased their target price 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, Royal Bank of Canada restated an “outperform” rating and set a $26.00 target price on shares of SLM in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, SLM currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.00.

SLM Price Performance

Shares of NASDAQ SLM opened at $26.48 on Thursday. The business’s 50 day moving average price is $24.15 and its 200 day moving average price is $22.32. The firm has a market cap of $5.62 billion, a P/E ratio of 9.23, a P/E/G ratio of 1.13 and a beta of 1.21. SLM Co. has a 52 week low of $16.84 and a 52 week high of $28.22. The company has a quick ratio of 1.27, a current ratio of 1.29 and a debt-to-equity ratio of 3.21.

SLM (NASDAQ:SLM) last issued its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.30). SLM had a return on equity of 35.92% and a net margin of 22.18%. The firm had revenue of $652.64 million for the quarter, compared to analyst estimates of $363.40 million. During the same period in the previous year, the business earned $0.11 EPS. On average, sell-side analysts expect that SLM Co. will post 2.73 earnings per share for the current year.

SLM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Thursday, December 5th. This is a positive change from SLM’s previous quarterly dividend of $0.11. SLM’s payout ratio is currently 18.12%.

Insider Transactions at SLM

In related news, Director Robert S. Strong sold 4,500 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $27.25, for a total transaction 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. This trade represents a 5.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.