Empowered Funds LLC Boosts Stake in SLM Co. (NASDAQ:SLM)

Empowered Funds LLC grew its stake in shares of SLM Co. (NASDAQ:SLM) by 4.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,594 shares of the credit services provider’s stock after buying an additional 526 shares during the period. Empowered Funds LLC’s holdings in SLM were worth $265,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in SLM. Waldron Private Wealth LLC purchased a new stake in SLM during the 3rd quarter worth about $31,000. Blue Trust Inc. boosted its stake in shares of SLM by 358.7% during the 3rd quarter. Blue Trust Inc. now owns 1,399 shares of the credit services provider’s stock worth $32,000 after purchasing an additional 1,094 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of SLM during the third quarter worth about $35,000. International Assets Investment Management LLC acquired a new position in shares of SLM in the second quarter valued at approximately $60,000. Finally, Covestor Ltd raised its position in shares of SLM by 110.3% in the third quarter. Covestor Ltd now owns 4,404 shares of the credit services provider’s stock valued at $101,000 after buying an additional 2,310 shares during the last quarter. 98.94% of the stock is owned by institutional investors and hedge funds.

SLM Stock Up 2.8 %

Shares of NASDAQ:SLM opened at $27.88 on Tuesday. SLM Co. has a 1 year low of $14.03 and a 1 year high of $28.22. The stock has a 50-day simple moving average of $23.02 and a 200-day simple moving average of $21.85. 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 market capitalization of $5.92 billion, a P/E ratio of 9.71, a PEG ratio of 1.15 and a beta of 1.16.

SLM (NASDAQ:SLM) last released its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.30). The business had revenue of $652.64 million during the quarter, compared to analyst estimates of $363.40 million. SLM had a return on equity of 35.92% and a net margin of 22.18%. During the same period in the previous year, the company earned $0.11 EPS. Equities analysts forecast that SLM Co. will post 2.73 earnings per share for the current year.

SLM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, December 5th will be given a $0.13 dividend. The ex-dividend date is Thursday, December 5th. This is a positive change from SLM’s previous quarterly dividend of $0.11. This represents a $0.52 annualized dividend and a yield of 1.87%. SLM’s dividend payout ratio (DPR) is 15.33%.

Wall Street Analyst Weigh In

SLM has been the subject of several recent analyst reports. JPMorgan Chase & Co. lowered their target price on shares of SLM from $25.00 to $24.00 and set a “neutral” rating for the company in a research note on Monday, October 7th. Barclays lowered their price objective on SLM from $27.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Wedbush reiterated an “outperform” rating and set a $26.00 target price on shares of SLM in a research report on Thursday, October 24th. Royal Bank of Canada restated an “outperform” rating and issued a $26.00 price target on shares of SLM in a report on Thursday, October 24th. Finally, Bank of America assumed coverage on shares of SLM in a report on Wednesday, September 25th. They set a “buy” rating and a $27.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.