Swiss National Bank Has $11.30 Million Stock Position in SLM Co. (NASDAQ:SLM)

Swiss National Bank reduced its position in SLM Co. (NASDAQ:SLM) by 11.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 642,088 shares of the credit services provider’s stock after selling 79,400 shares during the period. Swiss National Bank’s holdings in SLM were worth $11,301,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its position in shares of SLM by 5.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,921,243 shares of the credit services provider’s stock worth $33,809,000 after purchasing an additional 106,196 shares during the last quarter. Ibex Investors LLC boosted its position in shares of SLM by 6.1% in the 3rd quarter. Ibex Investors LLC now owns 26,000 shares of the credit services provider’s stock worth $458,000 after purchasing an additional 1,500 shares during the last quarter. Kendall Capital Management boosted its position in shares of SLM by 3.3% in the 3rd quarter. Kendall Capital Management now owns 98,868 shares of the credit services provider’s stock worth $1,740,000 after purchasing an additional 3,160 shares during the last quarter. Thompson Siegel & Walmsley LLC boosted its position in shares of SLM by 1.5% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 730,074 shares of the credit services provider’s stock worth $12,849,000 after purchasing an additional 10,913 shares during the last quarter. Finally, Advisor Group Holdings Inc. boosted its position in shares of SLM by 4.4% in the 3rd quarter. Advisor Group Holdings Inc. now owns 124,606 shares of the credit services provider’s stock worth $2,194,000 after purchasing an additional 5,244 shares during the last quarter. 96.22% of the stock is owned by institutional investors.

Shares of SLM stock opened at $20.78 on Friday. The firm has a market cap of $6.09 billion, a price-to-earnings ratio of 5.84 and a beta of 1.29. The stock’s 50-day moving average is $18.93 and its 200-day moving average is $18.72. SLM Co. has a one year low of $12.02 and a one year high of $21.40. The company has a debt-to-equity ratio of 2.78, a current ratio of 1.23 and a quick ratio of 1.23.

SLM (NASDAQ:SLM) last released its earnings results on Tuesday, October 19th. The credit services provider reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.07. The business had revenue of $357.52 million for the quarter, compared to the consensus estimate of $342.52 million. SLM had a return on equity of 60.87% and a net margin of 56.48%. During the same quarter in the previous year, the business earned $0.47 earnings per share. On average, equities analysts expect that SLM Co. will post 3.57 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 15th. Investors of record on Friday, December 3rd were given a $0.11 dividend. The ex-dividend date was Thursday, December 2nd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.12%. This is an increase from SLM’s previous quarterly dividend of $0.03. SLM’s payout ratio is currently 12.36%.

SLM announced that its board has initiated a share repurchase plan on Wednesday, October 20th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the credit services provider to buy up to 4.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Several research analysts have weighed in on SLM shares. Royal Bank of Canada lifted their target price on SLM from $20.00 to $22.00 and gave the stock an “outperform” rating in a report on Friday, October 22nd. Stephens lifted their target price on SLM from $23.00 to $24.00 and gave the stock an “overweight” rating in a report on Friday, October 22nd. Jefferies Financial Group reiterated a “buy” rating and set a $24.00 target price on shares of SLM in a report on Thursday, December 30th. Barclays lifted their target price on SLM from $25.00 to $27.00 in a report on Monday, January 10th. Finally, Credit Suisse Group lifted their target price on SLM from $24.00 to $25.00 and gave the stock an “outperform” rating in a report on Friday, October 22nd. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, SLM has a consensus rating of “Buy” and an average price target of $23.50.

About SLM

SLM Corp. engages in the provision and administration of education loans. Its services include private education loans, banking, college savings, and insurance services. The company was founded in 1972 and is headquartered in Newark, DE.

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Institutional Ownership by Quarter for SLM (NASDAQ:SLM)

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