Wealth Enhancement Advisory Services LLC Purchases 706 Shares of SLM Corporation (NASDAQ:SLM)

Wealth Enhancement Advisory Services LLC grew its position in SLM Corporation (NASDAQ:SLM) by 2.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,415 shares of the credit services provider’s stock after acquiring an additional 706 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in SLM were worth $1,040,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Private Trust Co. NA raised its position in SLM by 86.4% in the 4th quarter. Private Trust Co. NA now owns 971 shares of the credit services provider’s stock worth $27,000 after purchasing an additional 450 shares during the last quarter. Fifth Third Bancorp raised its position in SLM by 37.7% in the 1st quarter. Fifth Third Bancorp now owns 1,714 shares of the credit services provider’s stock worth $50,000 after purchasing an additional 469 shares during the last quarter. UMB Bank n.a. raised its position in SLM by 355.4% in the 1st quarter. UMB Bank n.a. now owns 1,899 shares of the credit services provider’s stock worth $56,000 after purchasing an additional 1,482 shares during the last quarter. Plato Investment Management Ltd bought a new position in SLM in the 4th quarter worth approximately $114,000. Finally, Jones Financial Companies Lllp raised its position in SLM by 489.7% in the 4th quarter. Jones Financial Companies Lllp now owns 4,476 shares of the credit services provider’s stock worth $123,000 after purchasing an additional 3,717 shares during the last quarter. Institutional investors own 98.94% of the company’s stock.

SLM Stock Performance

Shares of SLM stock opened at $33.36 on Wednesday. The firm has a fifty day moving average of $31.91 and a two-hundred day moving average of $29.69. The stock has a market capitalization of $7.00 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 0.90 and a beta of 1.09. SLM Corporation has a 52 week low of $19.39 and a 52 week high of $34.55. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.34 and a current ratio of 1.34.

SLM (NASDAQ:SLM) last released its quarterly earnings data on Thursday, April 24th. The credit services provider reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.21. SLM had a net margin of 21.05% and a return on equity of 31.25%. The business had revenue of $374.97 million during the quarter, compared to analysts’ expectations of $359.83 million. During the same quarter in the prior year, the company earned $1.27 EPS. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. As a group, equities research analysts predict that SLM Corporation will post 3.07 EPS for the current year.

SLM Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Thursday, June 5th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend was Thursday, June 5th. SLM’s dividend payout ratio is currently 18.71%.

Insider Activity at SLM

In related news, Director Robert S. Strong sold 3,000 shares of the company’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $31.15, for a total value of $93,450.00. Following the completion of the sale, the director owned 35,195 shares in the company, valued at $1,096,324.25. This represents a 7.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Morgan Stanley restated an “overweight” rating and issued a $40.00 price objective (up previously from $33.00) on shares of SLM in a research report on Wednesday, May 21st. JPMorgan Chase & Co. dropped their price objective on shares of SLM from $30.00 to $27.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Barclays boosted their price objective on shares of SLM from $34.00 to $38.00 and gave the stock an “overweight” rating in a research report on Friday, May 30th. Finally, Wells Fargo & Company upped their target price on shares of SLM from $34.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, May 14th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $32.30.

SLM Company 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.