11,934 Shares in SLM Co. (NASDAQ:SLM) Purchased by Centiva Capital LP

Posted by on Feb 27th, 2023

Centiva Capital LP bought a new stake in SLM Co. (NASDAQ:SLM – Get Rating) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 11,934 shares of the credit services provider’s stock, valued at approximately $167,000.

Several other large investors have also recently bought and sold shares of the stock. Raymond James & Associates lifted its stake in shares of SLM by 2.6% in the 1st quarter. Raymond James & Associates now owns 156,130 shares of the credit services provider’s stock worth $2,867,000 after acquiring an additional 3,913 shares during the period. HighTower Advisors LLC acquired a new stake in SLM in the first quarter worth approximately $262,000. MetLife Investment Management LLC boosted its stake in SLM by 26.9% during the 1st quarter. MetLife Investment Management LLC now owns 180,359 shares of the credit services provider’s stock valued at $3,311,000 after purchasing an additional 38,282 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of SLM by 5.2% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 102,214 shares of the credit services provider’s stock valued at $1,877,000 after purchasing an additional 5,012 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of SLM by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,541,444 shares of the credit services provider’s stock worth $101,733,000 after buying an additional 45,321 shares in the last quarter. Institutional investors and hedge funds own 96.65% of the company’s stock.

SLM Trading Down 0.8 %

NASDAQ SLM opened at $14.35 on Monday. The firm’s 50 day moving average price is $16.17 and its two-hundred day moving average price is $15.97. The company has a debt-to-equity ratio of 3.55, a quick ratio of 1.21 and a current ratio of 1.22. SLM Co. has a twelve month low of $13.72 and a twelve month high of $20.17. The stock has a market cap of $3.46 billion, a price-to-earnings ratio of 8.44 and a beta of 1.19.

SLM (NASDAQ:SLM – Get Rating) last issued its quarterly earnings results on Thursday, February 2nd. The credit services provider reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.79). The business had revenue of $542.96 million for the quarter, compared to analysts’ expectations of $358.11 million. SLM had a net margin of 19.82% and a return on equity of 27.83%. During the same quarter in the prior year, the firm posted $1.05 EPS. Equities analysts anticipate that SLM Co. will post 2.38 EPS for the current year.

SLM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Friday, March 3rd will be issued a $0.11 dividend. The ex-dividend date is Thursday, March 2nd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.07%. SLM’s dividend payout ratio is 25.88%.

Analyst Upgrades and Downgrades

SLM has been the subject of several research reports. BMO Capital Markets decreased their target price on SLM from $19.00 to $17.00 and set a “market perform” rating for the company in a research note on Monday, February 6th. Barclays reduced their price objective on shares of SLM from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Friday, February 3rd. Wells Fargo & Company downgraded shares of SLM from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $19.00 to $16.00 in a report on Friday, February 3rd. Credit Suisse Group cut their target price on shares of SLM from $22.00 to $20.00 and set an “outperform” rating for the company in a research note on Friday, February 3rd. Finally, Morgan Stanley decreased their price target on shares of SLM from $15.00 to $14.00 and set an “underweight” rating on the stock in a research report on Friday, February 3rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, SLM currently has a consensus rating of “Hold” and an average target price of $17.92.

SLM Profile

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SLM Corp. engages in the provision and administration of education loans. Its services include private education loans, banking, college savings, and insurance services. The company was founded in 1972 and is headquartered in Newark, DE.

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Institutional Ownership by Quarter for SLM (NASDAQ:SLM)

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