State of Alaska Department of Revenue Has $585,000 Holdings in SLM Co. (NASDAQ:SLM)

State of Alaska Department of Revenue increased its position in shares of SLM Co. (NASDAQ:SLM) by 7.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,617 shares of the credit services provider’s stock after buying an additional 1,710 shares during the period. State of Alaska Department of Revenue’s holdings in SLM were worth $585,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Waldron Private Wealth LLC acquired a new position in SLM in the third quarter valued at approximately $31,000. Blue Trust Inc. boosted its position 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 worth $32,000 after purchasing an additional 1,094 shares in the last quarter. International Assets Investment Management LLC bought a new stake in SLM in the 2nd quarter valued at about $60,000. Covestor Ltd raised its stake in SLM by 378.1% during the 1st quarter. Covestor Ltd now owns 3,050 shares of the credit services provider’s stock worth $66,000 after buying an additional 2,412 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in SLM by 13.3% in the third quarter. GAMMA Investing LLC now owns 5,077 shares of the credit services provider’s stock worth $116,000 after acquiring an additional 594 shares in the last quarter. Institutional investors and hedge funds own 98.94% of the company’s stock.

SLM Price Performance

Shares of NASDAQ SLM opened at $23.71 on Friday. The company has a market capitalization of $5.03 billion, a PE ratio of 8.26, a PEG ratio of 0.90 and a beta of 1.16. The company has a quick ratio of 1.27, a current ratio of 1.29 and a debt-to-equity ratio of 3.21. The stock’s 50 day moving average price is $22.15 and its 200-day moving average price is $21.60. SLM Co. has a twelve month low of $13.93 and a twelve month high of $24.59.

SLM (NASDAQ:SLM) last posted its quarterly earnings data 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 return on equity of 35.92% and a net margin of 22.18%. The business had revenue of $652.64 million during the quarter, compared to analysts’ expectations of $363.40 million. During the same period in the prior year, the firm posted $0.11 EPS. On average, equities analysts anticipate that SLM Co. will post 2.75 EPS for the current year.

SLM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, December 5th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Thursday, December 5th. This is an increase from SLM’s previous quarterly dividend of $0.11. SLM’s dividend payout ratio (DPR) is 15.33%.

Wall Street Analyst Weigh In

SLM has been the topic of a number of research reports. Wells Fargo & Company upped their target price on SLM from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Bank of America began 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. Royal Bank of Canada reissued an “outperform” rating and set a $26.00 target price on shares of SLM in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft raised their price target on shares of SLM from $25.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, Wedbush reissued an “outperform” rating and set a $26.00 price objective on shares of SLM in a report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, SLM has a consensus rating of “Moderate Buy” and an average target price of $25.45.

SLM 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.