Harbor Capital Advisors Inc. Boosts Stock Holdings in SLM Co. (NASDAQ:SLM)

Harbor Capital Advisors Inc. grew its position in SLM Co. (NASDAQ:SLM) by 1.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 224,900 shares of the credit services provider’s stock after purchasing an additional 2,636 shares during the period. Harbor Capital Advisors Inc. owned about 0.11% of SLM worth $6,203,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in SLM. Waldron Private Wealth LLC purchased a new position in shares of SLM in the 3rd quarter worth about $31,000. True Wealth Design LLC purchased a new stake in SLM during the third quarter worth about $31,000. Blue Trust Inc. raised its position in SLM by 358.7% in the third quarter. Blue Trust Inc. now owns 1,399 shares of the credit services provider’s stock worth $32,000 after acquiring an additional 1,094 shares during the period. Capital Performance Advisors LLP purchased a new position in SLM in the third quarter valued at about $35,000. Finally, Covestor Ltd grew its position in shares of SLM by 110.3% during the 3rd quarter. Covestor Ltd now owns 4,404 shares of the credit services provider’s stock valued at $101,000 after acquiring an additional 2,310 shares during the period. 98.94% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on SLM shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $30.00 price target (up previously from $27.00) on shares of SLM in a report on Monday, December 9th. JPMorgan Chase & Co. boosted their target price on SLM from $24.00 to $27.00 and gave the company a “neutral” rating in a research note on Monday, December 9th. Morgan Stanley increased their price target on SLM from $26.00 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday, December 19th. Bank of America initiated coverage on SLM in a research note on Wednesday, September 25th. They issued a “buy” rating and a $27.00 price objective on the stock. Finally, Barclays cut their target price on shares of SLM from $27.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, SLM presently has a consensus rating of “Moderate Buy” and an average target price of $27.27.

SLM Price Performance

NASDAQ:SLM opened at $26.95 on Friday. SLM Co. has a 52-week low of $18.25 and a 52-week high of $28.91. The stock has a fifty day moving average of $26.20 and a 200 day moving average of $23.32. The company has a debt-to-equity ratio of 3.21, a quick ratio of 1.27 and a current ratio of 1.29. The firm has a market capitalization of $5.72 billion, a price-to-earnings ratio of 9.39, a P/E/G ratio of 0.85 and a beta of 1.21.

SLM (NASDAQ:SLM) last issued its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.30). The business had revenue of $652.64 million for the quarter, compared to the consensus estimate of $363.40 million. SLM had a net margin of 22.18% and a return on equity of 35.92%. During the same quarter last year, the business posted $0.11 EPS. On average, research analysts expect that SLM Co. will post 2.73 EPS for the current fiscal year.

SLM Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Thursday, December 5th were given a dividend of $0.13 per share. The ex-dividend date was Thursday, December 5th. This represents a $0.52 annualized dividend and a dividend yield of 1.93%. This is a boost from SLM’s previous quarterly dividend of $0.11. SLM’s dividend payout ratio (DPR) is 18.12%.

Insider Transactions at SLM

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