SLM Co. (NASDAQ:SLM) Position Raised by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its position in SLM Co. (NASDAQ:SLM) by 0.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,758,057 shares of the credit services provider’s stock after acquiring an additional 15,252 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.83% of SLM worth $40,207,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Waldron Private Wealth LLC acquired a new position in shares of SLM during the 3rd quarter valued at $31,000. Blue Trust Inc. grew its holdings in SLM by 358.7% during the third quarter. Blue Trust Inc. now owns 1,399 shares of the credit services provider’s stock worth $32,000 after acquiring an additional 1,094 shares during the period. Capital Performance Advisors LLP bought a new stake in SLM in the third quarter worth about $35,000. International Assets Investment Management LLC acquired a new stake in SLM in the 2nd quarter valued at about $60,000. Finally, Covestor Ltd boosted its position in shares of SLM by 110.3% during the 3rd quarter. Covestor Ltd now owns 4,404 shares of the credit services provider’s stock valued at $101,000 after purchasing an additional 2,310 shares in the last quarter. Institutional investors own 98.94% of the company’s stock.

SLM Stock Down 3.0 %

Shares of NASDAQ SLM opened at $26.56 on Tuesday. The company has a market cap of $5.64 billion, a price-to-earnings ratio of 9.54, a PEG ratio of 1.16 and a beta of 1.16. The company has a current ratio of 1.29, a quick ratio of 1.27 and a debt-to-equity ratio of 3.21. SLM Co. has a 12 month low of $15.64 and a 12 month high of $28.22. The stock has a 50-day moving average price of $23.46 and a two-hundred day moving average price of $22.01.

SLM (NASDAQ:SLM) last announced its quarterly earnings results 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 net margin of 22.18% and a return on equity of 35.92%. 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 posted $0.11 earnings per share. As a group, analysts forecast that SLM Co. will post 2.73 earnings per share for the current fiscal year.

SLM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, December 5th will be issued a $0.13 dividend. The ex-dividend date 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 1.96%. SLM’s dividend payout ratio is presently 15.33%.

Analyst Ratings Changes

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