Empowered Funds LLC Increases Position in SLM Co. (NASDAQ:SLM)

Empowered Funds LLC raised its position in shares of SLM Co. (NASDAQ:SLM) by 4.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,594 shares of the credit services provider’s stock after buying an additional 526 shares during the period. Empowered Funds LLC’s holdings in SLM were worth $265,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. GSA Capital Partners LLP purchased a new position in shares of SLM in the third quarter valued at approximately $1,149,000. Los Angeles Capital Management LLC boosted its position in SLM by 11.1% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,114,083 shares of the credit services provider’s stock valued at $25,479,000 after buying an additional 111,258 shares during the period. State of New Jersey Common Pension Fund D grew its stake in shares of SLM by 1.8% in the third quarter. State of New Jersey Common Pension Fund D now owns 92,216 shares of the credit services provider’s stock worth $2,109,000 after acquiring an additional 1,668 shares in the last quarter. Crossmark Global Holdings Inc. increased its position in shares of SLM by 283.9% during the third quarter. Crossmark Global Holdings Inc. now owns 59,866 shares of the credit services provider’s stock worth $1,369,000 after acquiring an additional 44,272 shares during the period. Finally, Covestor Ltd raised its stake in shares of SLM by 110.3% in the third quarter. Covestor Ltd now owns 4,404 shares of the credit services provider’s stock valued at $101,000 after acquiring an additional 2,310 shares in the last quarter. 98.94% of the stock is owned by institutional investors and hedge funds.

SLM Stock Performance

NASDAQ:SLM opened at $27.88 on Tuesday. The firm’s fifty day simple moving average is $23.02 and its 200-day simple moving average is $21.85. 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 has a market cap of $5.92 billion, a PE ratio of 9.71, a price-to-earnings-growth ratio of 1.15 and a beta of 1.16. SLM Co. has a fifty-two week low of $14.03 and a fifty-two week high of $28.22.

SLM (NASDAQ:SLM) last issued its 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 return on equity of 35.92% and a net margin of 22.18%. The company had revenue of $652.64 million for the quarter, compared to analyst estimates of $363.40 million. During the same quarter in the previous year, the company posted $0.11 earnings per share. Analysts expect that SLM Co. will post 2.73 earnings per share for the current fiscal year.

SLM Increases Dividend

The company 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. The ex-dividend date of this dividend is Thursday, December 5th. This is a boost from SLM’s previous quarterly dividend of $0.11. This represents a $0.52 annualized dividend and a yield of 1.87%. SLM’s payout ratio is currently 15.33%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on SLM shares. JPMorgan Chase & Co. lowered their target price on SLM from $25.00 to $24.00 and set a “neutral” rating for the company in a research note on Monday, October 7th. Wedbush restated an “outperform” rating and set a $26.00 price target on shares of SLM in a research note on Thursday, October 24th. Bank of America assumed 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 reiterated an “outperform” rating and issued a $26.00 target price on shares of SLM in a research note on Thursday, October 24th. Finally, Barclays lowered their price objective on shares of SLM from $27.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has a consensus 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.