Perpetual Ltd Takes $6.49 Million Position in SLM Co. (NASDAQ:SLM)

Perpetual Ltd acquired a new position in SLM Co. (NASDAQ:SLM) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 235,241 shares of the credit services provider’s stock, valued at approximately $6,488,000. Perpetual Ltd owned 0.11% of SLM as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the business. True Wealth Design LLC bought a new position in SLM in the 3rd quarter worth approximately $31,000. Waldron Private Wealth LLC bought a new position in SLM during the third quarter worth $31,000. Blue Trust Inc. raised its stake in SLM by 358.7% during the 3rd quarter. Blue Trust Inc. now owns 1,399 shares of the credit services provider’s stock valued at $32,000 after purchasing an additional 1,094 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in SLM in the 3rd quarter valued at $35,000. Finally, Covestor Ltd grew its position in SLM by 110.3% in the 3rd 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 last quarter. Institutional investors own 98.94% of the company’s stock.

SLM Price Performance

Shares of SLM stock opened at $28.57 on Wednesday. The firm’s 50 day moving average price is $26.97 and its two-hundred day moving average price is $23.75. The stock has a market cap of $6.07 billion, a PE ratio of 9.95, a PEG ratio of 0.76 and a beta of 1.21. SLM Co. has a 52-week low of $18.84 and a 52-week high of $28.91. The company has a debt-to-equity ratio of 3.21, a quick ratio of 1.27 and a current ratio of 1.29.

SLM (NASDAQ:SLM) last announced its quarterly earnings data 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 return on equity of 35.92% and a net margin of 22.18%. The company had revenue of $652.64 million for the quarter, compared to analyst estimates of $363.40 million. During the same period last year, the firm earned $0.11 earnings per share. As a group, analysts forecast that SLM Co. will post 2.72 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on SLM. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $30.00 price objective (up previously from $27.00) on shares of SLM in a research report on Monday, December 9th. Barclays cut their price target on SLM from $27.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Wedbush reissued an “outperform” rating and set a $26.00 price objective on shares of SLM in a report on Thursday, October 24th. JPMorgan Chase & Co. upped their target price on SLM from $27.00 to $29.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $26.00 price target on shares of SLM in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $27.90.

Insider Transactions at SLM

In other news, Director Robert S. Strong sold 4,500 shares of SLM stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $27.25, for a total transaction of $122,625.00. Following the transaction, the director now directly owns 83,130 shares of the company’s stock, valued at $2,265,292.50. This trade represents a 5.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

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.