235,241 Shares in SLM Co. (NASDAQ:SLM) Acquired by Perpetual Ltd

Perpetual Ltd purchased a new stake in SLM Co. (NASDAQ:SLM) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 235,241 shares of the credit services provider’s stock, valued at approximately $6,488,000.

A number of other institutional investors have also recently bought and sold shares of the stock. True Wealth Design LLC acquired a new stake in shares of SLM during the third quarter worth $31,000. Waldron Private Wealth LLC acquired a new position in SLM in the 3rd quarter worth $31,000. Blue Trust Inc. increased its holdings in 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 stake in shares of SLM in the 3rd quarter valued at about $35,000. Finally, Covestor Ltd lifted its holdings 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 in the last quarter. Institutional investors own 98.94% of the company’s stock.

SLM Stock Up 2.1 %

SLM stock opened at $28.57 on Wednesday. SLM Co. has a fifty-two week low of $18.84 and a fifty-two week high of $28.91. The firm has a market capitalization of $6.07 billion, a PE ratio of 9.95, a P/E/G ratio of 0.76 and a beta of 1.21. The company’s 50-day moving average is $26.97 and its 200-day moving average is $23.75. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.29 and a quick ratio of 1.27.

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). 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 the consensus estimate of $363.40 million. During the same quarter in the prior year, the company earned $0.11 EPS. Sell-side analysts anticipate that SLM Co. will post 2.72 earnings per share for the current year.

Analyst Upgrades and Downgrades

SLM has been the subject of a number of research reports. JPMorgan Chase & Co. increased their price objective on SLM from $27.00 to $29.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Morgan Stanley raised their price target on shares of SLM from $26.00 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday, December 19th. Barclays cut their price objective on shares of SLM from $27.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Wedbush reaffirmed an “outperform” rating and issued a $26.00 target price on shares of SLM in a research report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $30.00 price target (up from $27.00) on shares of SLM in a research report on Monday, December 9th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $27.90.

Insider Buying and Selling

In related news, Director Robert S. Strong sold 4,500 shares of SLM stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $27.25, for a total transaction of $122,625.00. Following the completion of the sale, the director now owns 83,130 shares of the company’s stock, valued at approximately $2,265,292.50. The trade was a 5.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.20% of the stock is owned by insiders.

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.