SLM Co. (NASDAQ:SLM) Shares Acquired by Invesco Ltd.

Invesco Ltd. boosted its position in SLM Co. (NASDAQ:SLM) by 35.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,684,793 shares of the credit services provider’s stock after purchasing an additional 443,726 shares during the quarter. Invesco Ltd. owned about 0.79% of SLM worth $46,467,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of SLM. Private Trust Co. NA lifted its stake in shares of SLM by 86.4% during the fourth quarter. Private Trust Co. NA now owns 971 shares of the credit services provider’s stock valued at $27,000 after buying an additional 450 shares during the period. Blue Trust Inc. boosted its holdings in shares of SLM by 32.2% during the fourth quarter. Blue Trust Inc. now owns 1,849 shares of the credit services provider’s stock worth $51,000 after purchasing an additional 450 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of SLM in the fourth quarter valued at $86,000. Plato Investment Management Ltd acquired a new position in SLM in the fourth quarter valued at $114,000. Finally, Jones Financial Companies Lllp boosted its stake in SLM by 489.7% in the 4th quarter. Jones Financial Companies Lllp now owns 4,476 shares of the credit services provider’s stock worth $123,000 after buying an additional 3,717 shares during the last quarter. 98.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Morgan Stanley increased their price objective on shares of SLM from $32.00 to $38.00 and gave the stock an “overweight” rating in a report on Monday, March 10th. Barclays lifted their price target on shares of SLM from $34.00 to $38.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Royal Bank of Canada upped their price objective on SLM from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. JPMorgan Chase & Co. reduced their target price on SLM from $30.00 to $27.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Finally, Wells Fargo & Company raised their price objective on SLM from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Two research 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 an average rating of “Moderate Buy” and a consensus target price of $31.18.

SLM Trading Up 2.1 %

NASDAQ SLM opened at $26.65 on Wednesday. The company’s fifty day simple moving average is $29.03 and its 200-day simple moving average is $26.92. The stock has a market cap of $5.61 billion, a P/E ratio of 10.06, a PEG ratio of 0.86 and a beta of 1.05. SLM Co. has a 52 week low of $19.39 and a 52 week high of $32.65. The company has a current ratio of 1.32, a quick ratio of 1.27 and a debt-to-equity ratio of 3.37.

SLM (NASDAQ:SLM) last announced its earnings results on Thursday, January 23rd. The credit services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.06). SLM had a net margin of 20.73% and a return on equity of 31.66%. Equities research analysts predict that SLM Co. will post 3.07 EPS for the current fiscal year.

SLM Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Wednesday, March 5th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.95%. The ex-dividend date was Wednesday, March 5th. SLM’s dividend payout ratio (DPR) is currently 19.62%.

Insider Transactions at SLM

In other news, Director Robert S. Strong sold 40,000 shares of the stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $28.57, for a total transaction of $1,142,800.00. Following the transaction, the director now owns 43,163 shares of the company’s stock, valued at approximately $1,233,166.91. This trade represents a 48.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

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.