Eagle Asset Management Inc. Reduces Stock Position in SLM Co. (NASDAQ:SLM)

Eagle Asset Management Inc. lowered its stake in shares of SLM Co. (NASDAQ:SLM) by 17.5% in the third quarter, Holdings Channel reports. The institutional investor owned 578,177 shares of the credit services provider’s stock after selling 122,710 shares during the quarter. Eagle Asset Management Inc.’s holdings in SLM were worth $13,419,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Waldron Private Wealth LLC acquired a new stake in shares of SLM during the 3rd quarter valued at approximately $31,000. Blue Trust Inc. raised its stake 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 position in SLM in the third quarter worth about $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 grew its holdings 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 valued at $101,000 after purchasing an additional 2,310 shares during the last quarter. Institutional investors own 98.94% of the company’s stock.

SLM Price Performance

Shares of NASDAQ:SLM opened at $27.13 on Friday. The company has a market capitalization of $5.76 billion, a PE ratio of 9.45, a price-to-earnings-growth ratio of 1.05 and a beta of 1.16. 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 stock has a fifty day moving average of $22.89 and a 200-day moving average of $21.80. SLM Co. has a one year low of $14.03 and a one year high of $27.18.

SLM (NASDAQ:SLM) last issued its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $363.40 million. During the same period in the prior year, the business posted $0.11 EPS. As a group, equities analysts anticipate that SLM Co. will post 2.73 EPS for the current fiscal year.

SLM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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. This represents a $0.52 annualized dividend and a yield of 1.92%. The ex-dividend date is Thursday, December 5th. SLM’s payout ratio is 15.33%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Royal Bank of Canada restated an “outperform” rating and set a $26.00 price objective on shares of SLM in a research report on Thursday, October 24th. Bank of America assumed coverage on SLM in a report on Wednesday, September 25th. They set a “buy” rating and a $27.00 price target on the stock. Barclays decreased their price objective on SLM from $27.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. JPMorgan Chase & Co. reduced their price target on SLM from $25.00 to $24.00 and set a “neutral” rating for the company in a research report on Monday, October 7th. Finally, Wedbush restated an “outperform” rating and set a $26.00 price objective on shares of SLM in a research note on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.45.

About SLM

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.