Pertento Partners LLP Invests $48.45 Million in SLM Co. (NASDAQ:SLM)

Pertento Partners LLP acquired a new position in SLM Co. (NASDAQ:SLM) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,756,745 shares of the credit services provider’s stock, valued at approximately $48,451,000. SLM accounts for 4.1% of Pertento Partners LLP’s portfolio, making the stock its 11th largest holding.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pictet Asset Management Holding SA increased its position in shares of SLM by 17.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 32,000 shares of the credit services provider’s stock valued at $883,000 after acquiring an additional 4,661 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in SLM in the 4th quarter valued at approximately $536,000. Norges Bank purchased a new stake in SLM in the fourth quarter valued at approximately $68,603,000. JPMorgan Chase & Co. lifted its stake in SLM by 12.7% during the fourth quarter. JPMorgan Chase & Co. now owns 754,457 shares of the credit services provider’s stock worth $20,808,000 after purchasing an additional 85,194 shares in the last quarter. Finally, WINTON GROUP Ltd boosted its position in shares of SLM by 40.2% during the fourth quarter. WINTON GROUP Ltd now owns 30,205 shares of the credit services provider’s stock worth $833,000 after buying an additional 8,654 shares during the period. Institutional investors and hedge funds own 98.94% of the company’s stock.

Analyst Upgrades and Downgrades

SLM has been the topic of several research reports. Keefe, Bruyette & Woods increased their target price on SLM from $30.00 to $32.00 and gave the stock a “market perform” rating in a research note on Friday, January 24th. Wells Fargo & Company raised their price objective on shares of SLM from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. JPMorgan Chase & Co. upped their target price on shares of SLM from $29.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Barclays raised their price target on shares of SLM from $34.00 to $38.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Finally, Compass Point upped their price objective on SLM from $31.00 to $34.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, SLM has an average rating of “Moderate Buy” and a consensus target price of $31.45.

SLM Stock Performance

Shares of SLM stock opened at $28.90 on Friday. The firm’s 50 day moving average is $29.59 and its two-hundred day moving average is $26.40. SLM Co. has a 52 week low of $19.39 and a 52 week high of $32.65. The company has a quick ratio of 1.27, a current ratio of 1.32 and a debt-to-equity ratio of 3.37. The firm has a market capitalization of $6.08 billion, a P/E ratio of 10.91, a P/E/G ratio of 0.86 and a beta of 1.23.

SLM (NASDAQ:SLM) last posted its earnings results on Thursday, January 23rd. The credit services provider reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.06). SLM had a return on equity of 31.66% and a net margin of 20.73%. Research analysts forecast that SLM Co. will post 3.07 EPS for the current fiscal year.

SLM Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.80%. SLM’s dividend payout ratio (DPR) is presently 19.62%.

Insider Activity

In related news, Director Robert S. Strong sold 40,000 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $28.57, for a total value of $1,142,800.00. Following the transaction, the director now owns 43,163 shares in the company, valued at $1,233,166.91. The trade was a 48.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 1.20% of the company’s stock.

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.