Edgestream Partners L.P. Acquires New Stake in SLM Co. (NASDAQ:SLM)

Edgestream Partners L.P. acquired a new position in shares of SLM Co. (NASDAQ:SLM) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 142,122 shares of the credit services provider’s stock, valued at approximately $3,250,000. Edgestream Partners L.P. owned about 0.07% of SLM as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Waldron Private Wealth LLC purchased a new stake in shares of SLM in the third quarter valued at approximately $31,000. Blue Trust Inc. boosted its position 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 in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of SLM during the 3rd quarter worth $35,000. International Assets Investment Management LLC purchased a new position in shares of SLM in the 2nd quarter valued at about $60,000. Finally, Covestor Ltd lifted its stake 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 purchasing an additional 2,310 shares during the period. Institutional investors and hedge funds own 98.94% of the company’s stock.

SLM Stock Performance

Shares of NASDAQ SLM opened at $27.38 on Monday. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.29 and a quick ratio of 1.27. The company has a market cap of $5.81 billion, a PE ratio of 9.54, a price-to-earnings-growth ratio of 1.16 and a beta of 1.16. The company has a 50-day simple moving average of $23.46 and a 200-day simple moving average of $22.01. SLM Co. has a 12 month low of $14.64 and a 12 month high of $28.22.

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 the consensus estimate of $0.07 by ($0.30). SLM had a net margin of 22.18% and a return on equity of 35.92%. The business had revenue of $652.64 million during the quarter, compared to analyst estimates of $363.40 million. During the same quarter last year, the firm posted $0.11 earnings per share. On average, equities analysts anticipate that SLM Co. will post 2.73 earnings per share for the current year.

SLM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, December 5th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.90%. This is a positive change from SLM’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Thursday, December 5th. SLM’s dividend payout ratio (DPR) is presently 15.33%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Wedbush restated an “outperform” rating and set a $26.00 target price on shares of SLM in a research report on Thursday, October 24th. Bank of America initiated coverage on SLM in a report on Wednesday, September 25th. They issued a “buy” rating and a $27.00 price target on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $26.00 price objective on shares of SLM in a report on Thursday, October 24th. Barclays lowered their target price on SLM from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. cut their price target on SLM from $25.00 to $24.00 and set a “neutral” rating for the company in a research note on Monday, October 7th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average 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.