Los Angeles Capital Management LLC Invests $7.13 Million in SLM Co. (NASDAQ:SLM)

Los Angeles Capital Management LLC bought a new stake in shares of SLM Co. (NASDAQ:SLM) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 373,047 shares of the credit services provider’s stock, valued at approximately $7,133,000. Los Angeles Capital Management LLC owned about 0.16% of SLM as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Mackenzie Financial Corp purchased a new position in SLM in the 3rd quarter worth approximately $310,000. Strs Ohio raised its holdings in SLM by 21.6% during the 3rd quarter. Strs Ohio now owns 73,075 shares of the credit services provider’s stock valued at $995,000 after buying an additional 12,988 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in SLM by 45.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 46,071 shares of the credit services provider’s stock valued at $627,000 after buying an additional 14,460 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in SLM in the 3rd quarter worth $196,000. Finally, Teacher Retirement System of Texas increased its position in shares of SLM by 9.8% in the third quarter. Teacher Retirement System of Texas now owns 70,715 shares of the credit services provider’s stock valued at $963,000 after acquiring an additional 6,295 shares during the period. Institutional investors own 98.94% of the company’s stock.

Insider Buying and Selling

In other SLM news, SVP Jonathan Boyles sold 94,078 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $20.72, for a total transaction of $1,949,296.16. Following the completion of the transaction, the senior vice president now owns 52,751 shares in the company, valued at $1,093,000.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.91% of the stock is owned by corporate insiders.

SLM Trading Up 2.5 %

Shares of NASDAQ SLM opened at $22.01 on Friday. The stock has a market capitalization of $4.84 billion, a P/E ratio of 6.88, a PEG ratio of 0.44 and a beta of 1.17. SLM Co. has a 1-year low of $12.26 and a 1-year high of $22.37. The business’s 50 day moving average is $21.10 and its two-hundred day moving average is $18.55. The company has a debt-to-equity ratio of 2.67, a current ratio of 1.23 and a quick ratio of 1.23.

SLM (NASDAQ:SLM) last released its earnings results on Wednesday, April 24th. The credit services provider reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.18. The firm had revenue of $837.72 million for the quarter, compared to the consensus estimate of $376.43 million. SLM had a return on equity of 45.65% and a net margin of 25.15%. During the same quarter in the previous year, the company posted $0.47 EPS. As a group, research analysts expect that SLM Co. will post 2.75 EPS for the current year.

SLM announced that its Board of Directors has initiated a share buyback program on Wednesday, January 24th that allows the company to buyback $650.00 million in shares. This buyback authorization allows the credit services provider to repurchase up to 14.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

SLM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Thursday, June 6th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $0.44 annualized dividend and a dividend yield of 2.00%. SLM’s dividend payout ratio (DPR) is presently 13.75%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. TheStreet upgraded shares of SLM from a “c+” rating to a “b” rating in a report on Wednesday, January 24th. Wedbush lifted their price target on shares of SLM from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Citigroup raised shares of SLM from a “neutral” rating to a “buy” rating and raised their target price for the stock from $14.00 to $23.00 in a research report on Tuesday, January 16th. Deutsche Bank Aktiengesellschaft initiated coverage on SLM in a research report on Wednesday, January 10th. They set a “buy” rating and a $25.00 price objective on the stock. Finally, Royal Bank of Canada raised their target price on SLM from $24.00 to $25.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $21.32.

SLM 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.