Algert Global LLC Cuts Position in SLM Co. (NASDAQ:SLM)

Algert Global LLC trimmed its holdings in shares of SLM Co. (NASDAQ:SLM) by 43.4% in the third quarter, HoldingsChannel.com reports. The fund owned 34,911 shares of the credit services provider’s stock after selling 26,740 shares during the period. Algert Global LLC’s holdings in SLM were worth $798,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Assenagon Asset Management S.A. grew its position in shares of SLM by 3,800.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,406,384 shares of the credit services provider’s stock valued at $55,034,000 after acquiring an additional 2,344,691 shares during the period. Millennium Management LLC grew its holdings in SLM by 107.1% during the second quarter. Millennium Management LLC now owns 2,366,642 shares of the credit services provider’s stock valued at $49,202,000 after purchasing an additional 1,224,015 shares during the period. AQR Capital Management LLC increased its position in SLM by 253.8% in the second quarter. AQR Capital Management LLC now owns 1,290,997 shares of the credit services provider’s stock worth $26,840,000 after buying an additional 926,120 shares during the last quarter. American Century Companies Inc. raised its stake in shares of SLM by 23.9% in the second quarter. American Century Companies Inc. now owns 4,453,521 shares of the credit services provider’s stock valued at $92,589,000 after buying an additional 859,625 shares during the period. Finally, Los Angeles Capital Management LLC lifted its position in shares of SLM by 69.1% during the 2nd quarter. Los Angeles Capital Management LLC now owns 1,002,825 shares of the credit services provider’s stock valued at $20,849,000 after buying an additional 409,624 shares during the last quarter. 98.94% of the stock is currently owned by institutional investors.

SLM Stock Up 0.7 %

Shares of NASDAQ:SLM opened at $27.38 on Friday. The firm has a fifty day moving average of $23.35 and a 200 day moving average of $21.96. SLM Co. has a 52-week low of $14.64 and a 52-week high of $28.22. The company has a debt-to-equity ratio of 3.21, a quick ratio of 1.27 and a current ratio of 1.29. The firm has a market capitalization of $5.81 billion, a PE ratio of 9.48, a price-to-earnings-growth ratio of 1.15 and a beta of 1.16.

SLM (NASDAQ:SLM) last posted 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 firm had revenue of $652.64 million during the quarter, compared to analysts’ expectations of $363.40 million. SLM had a return on equity of 35.92% and a net margin of 22.18%. During the same quarter in the previous year, the company posted $0.11 earnings per share. As a group, research analysts anticipate that SLM Co. will post 2.73 EPS for the current fiscal year.

SLM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, December 5th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.90%. This is a positive change from SLM’s previous quarterly dividend of $0.11. The ex-dividend date is Thursday, December 5th. SLM’s payout ratio is presently 15.33%.

Wall Street Analysts Forecast Growth

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