Wealth Enhancement Advisory Services LLC Buys 21,984 Shares of SLM Co. (NASDAQ:SLM)

Wealth Enhancement Advisory Services LLC increased its position in SLM Co. (NASDAQ:SLM) by 194.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,273 shares of the credit services provider’s stock after buying an additional 21,984 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in SLM were worth $761,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mraz Amerine & Associates Inc. bought a new position in SLM in the third quarter worth approximately $240,000. Assenagon Asset Management S.A. raised its position in shares of SLM by 3,800.6% during the third quarter. Assenagon Asset Management S.A. now owns 2,406,384 shares of the credit services provider’s stock worth $55,034,000 after purchasing an additional 2,344,691 shares during the period. International Assets Investment Management LLC raised its position in shares of SLM by 2,187.0% during the third quarter. International Assets Investment Management LLC now owns 66,254 shares of the credit services provider’s stock worth $1,515,000 after purchasing an additional 63,357 shares during the period. Waldron Private Wealth LLC bought a new position in shares of SLM in the 3rd quarter worth $31,000. Finally, Allspring Global Investments Holdings LLC grew its position in SLM by 294.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 51,248 shares of the credit services provider’s stock valued at $1,172,000 after purchasing an additional 38,269 shares during the period. 98.94% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of SLM from $25.00 to $29.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Wells Fargo & Company upped their target price on shares of SLM from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. JPMorgan Chase & Co. dropped their price target on shares of SLM from $25.00 to $24.00 and set a “neutral” rating on the stock in a research report on Monday, October 7th. Wedbush reissued an “outperform” rating and set a $26.00 price objective on shares of SLM in a report on Thursday, October 24th. Finally, Bank of America initiated coverage on SLM in a report on Wednesday, September 25th. They issued a “buy” rating and a $27.00 target price on the stock. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.45.

SLM Stock Performance

NASDAQ:SLM opened at $24.48 on Thursday. The company has a debt-to-equity ratio of 3.21, a quick ratio of 1.27 and a current ratio of 1.29. SLM Co. has a fifty-two week low of $13.93 and a fifty-two week high of $24.53. The firm has a market cap of $5.20 billion, a PE ratio of 8.53, a price-to-earnings-growth ratio of 0.90 and a beta of 1.16. The business has a 50 day moving average price of $22.05 and a 200-day moving average price of $21.56.

SLM (NASDAQ:SLM) last posted its earnings results 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 for the quarter, compared to analysts’ expectations of $363.40 million. During the same period last year, the firm posted $0.11 earnings per share. Equities research analysts predict that SLM Co. will post 2.75 earnings per share for the current year.

SLM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, December 5th will be paid a $0.13 dividend. This is an increase from SLM’s previous quarterly dividend of $0.11. This represents a $0.52 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Thursday, December 5th. SLM’s dividend payout ratio is presently 15.33%.

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.