Cerity Partners LLC Buys 34,079 Shares of SLM Co. (NASDAQ:SLM)

Cerity Partners LLC boosted its stake in SLM Co. (NASDAQ:SLM) by 150.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,766 shares of the credit services provider’s stock after acquiring an additional 34,079 shares during the period. Cerity Partners LLC’s holdings in SLM were worth $1,298,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Waldron Private Wealth LLC acquired a new position in SLM in the third quarter valued at approximately $31,000. Blue Trust Inc. lifted its stake in SLM by 358.7% in the third quarter. Blue Trust Inc. now owns 1,399 shares of the credit services provider’s stock valued at $32,000 after buying an additional 1,094 shares during the period. Capital Performance Advisors LLP acquired a new position in SLM in the third quarter valued at approximately $35,000. International Assets Investment Management LLC acquired a new position in SLM in the second quarter valued at approximately $60,000. Finally, Covestor Ltd raised its position in shares of SLM by 110.3% during the third quarter. Covestor Ltd now owns 4,404 shares of the credit services provider’s stock worth $101,000 after purchasing an additional 2,310 shares during the period. 98.94% of the stock is currently owned by institutional investors.

SLM Stock Down 0.2 %

Shares of NASDAQ:SLM opened at $26.50 on Wednesday. The company has a market capitalization of $5.63 billion, a PE ratio of 9.23, a price-to-earnings-growth ratio of 1.13 and a beta of 1.21. 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 business has a fifty day moving average price of $23.55 and a two-hundred day moving average price of $22.05. SLM Co. has a 1 year low of $15.64 and a 1 year high of $28.22.

SLM (NASDAQ:SLM) last announced its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.30). The business had revenue of $652.64 million during the quarter, compared to the consensus estimate of $363.40 million. SLM had a net margin of 22.18% and a return on equity of 35.92%. During the same quarter last year, the company earned $0.11 EPS. Analysts forecast that SLM Co. will post 2.73 earnings per share for the current year.

SLM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.13 per share. This is an increase 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 1.96%. SLM’s dividend payout ratio is presently 15.33%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on SLM shares. JPMorgan Chase & Co. lowered 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. Barclays lowered their target price on SLM from $27.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Bank of America began coverage on SLM in a research report on Wednesday, September 25th. They set a “buy” rating and a $27.00 target price on the stock. Wedbush reissued an “outperform” rating and issued a $26.00 price target on shares of SLM in a research report on Thursday, October 24th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $26.00 price target on shares of SLM in a research report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.