Lighthouse Investment Partners LLC bought a new position in SLM Co. (NASDAQ:SLM - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 318,036 shares of the credit services provider's stock, valued at approximately $8,771,000. Lighthouse Investment Partners LLC owned 0.15% of SLM at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of SLM. Capital Research Global Investors acquired a new position in SLM during the 4th quarter valued at $144,101,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in SLM in the 4th quarter worth $140,442,000. T. Rowe Price Investment Management Inc. bought a new position in shares of SLM during the 4th quarter worth about $76,362,000. Duquesne Family Office LLC bought a new position in shares of SLM during the 4th quarter worth about $69,509,000. Finally, Norges Bank acquired a new position in shares of SLM during the fourth quarter valued at about $68,603,000. Institutional investors own 98.94% of the company's stock.
SLM Price Performance
SLM stock traded down $0.23 during mid-day trading on Thursday, hitting $33.40. 1,688,506 shares of the company were exchanged, compared to its average volume of 2,250,219. The company has a market capitalization of $7.01 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 0.86 and a beta of 1.05. The business has a fifty day moving average of $28.75 and a 200 day moving average of $27.88. SLM Co. has a 1-year low of $19.39 and a 1-year high of $34.16. The company has a quick ratio of 1.27, a current ratio of 1.32 and a debt-to-equity ratio of 3.37.
SLM (NASDAQ:SLM - Get Free Report) last announced its earnings results on Thursday, April 24th. The credit services provider reported $1.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.19 by $0.21. The business had revenue of $374.97 million during the quarter, compared to analysts' expectations of $359.83 million. SLM had a net margin of 20.73% and a return on equity of 31.66%. The firm's revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter last year, the company posted $1.27 EPS. As a group, sell-side analysts expect that SLM Co. will post 3.07 earnings per share for the current year.
SLM Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Thursday, June 5th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Thursday, June 5th. SLM's payout ratio is currently 18.71%.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the company. Compass Point lifted their target price on SLM from $31.00 to $34.00 and gave the stock a "buy" rating in a research report on Friday, January 24th. Barclays lifted their price objective on SLM from $34.00 to $38.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. Morgan Stanley restated an "overweight" rating and issued a $33.00 target price (up from $31.00) on shares of SLM in a research note on Friday, April 25th. Wells Fargo & Company raised their target price on SLM from $34.00 to $38.00 and gave the stock an "overweight" rating in a research report on Wednesday. Finally, Royal Bank of Canada boosted their price target on shares of SLM from $30.00 to $32.00 and gave the company an "outperform" rating in a report on Friday, January 24th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $31.18.
Get Our Latest Stock Analysis on SLM
Insider Transactions at SLM
In related news, Director Robert S. Strong sold 3,000 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $31.15, for a total transaction of $93,450.00. Following the transaction, the director now owns 35,195 shares in the company, valued at $1,096,324.25. This represents a 7.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is owned by company insiders.
SLM Profile
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Free Report)
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.
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