Natixis Advisors L.P. Sells 80,230 Shares of SLM Co. (NASDAQ:SLM)

Posted by Defense World Staff on Aug 31st, 2023

Natixis Advisors L.P. decreased its position in SLM Co. (NASDAQ:SLM – Free Report) by 15.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 423,083 shares of the credit services provider’s stock after selling 80,230 shares during the quarter. Natixis Advisors L.P. owned approximately 0.17% of SLM worth $5,242,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in SLM by 0.6% in the third quarter. Vanguard Group Inc. now owns 30,551,727 shares of the credit services provider’s stock worth $427,418,000 after purchasing an additional 177,312 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of SLM by 0.8% during the first quarter. Dimensional Fund Advisors LP now owns 5,541,444 shares of the credit services provider’s stock valued at $101,733,000 after acquiring an additional 45,321 shares in the last quarter. Capital World Investors increased its holdings in shares of SLM by 53.0% during the first quarter. Capital World Investors now owns 4,530,000 shares of the credit services provider’s stock valued at $83,171,000 after acquiring an additional 1,570,000 shares in the last quarter. Norges Bank bought a new position in shares of SLM during the fourth quarter valued at $41,054,000. Finally, American Century Companies Inc. increased its holdings in shares of SLM by 18.9% during the first quarter. American Century Companies Inc. now owns 2,211,100 shares of the credit services provider’s stock valued at $26,997,000 after acquiring an additional 352,202 shares in the last quarter. Institutional investors own 95.07% of the company’s stock.

Insider Activity

In other news, EVP Nicolas Jafarieh sold 7,500 shares of SLM stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $16.12, for a total transaction of $120,900.00. Following the transaction, the executive vice president now directly owns 162,664 shares of the company’s stock, valued at approximately $2,622,143.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.91% of the company’s stock.

SLM Trading Down 1.3 %

Shares of NASDAQ:SLM opened at $14.29 on Thursday. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of 9.34 and a beta of 1.22. The company has a debt-to-equity ratio of 3.35, a quick ratio of 1.22 and a current ratio of 1.22. The stock’s 50-day simple moving average is $15.66 and its two-hundred day simple moving average is $14.87. SLM Co. has a 52-week low of $10.81 and a 52-week high of $17.92.

SLM (NASDAQ:SLM – Get Free Report) last announced its earnings results on Wednesday, July 26th. The credit services provider reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.06). The firm had revenue of $777.96 million during the quarter, compared to analysts’ expectations of $370.15 million. SLM had a return on equity of 24.09% and a net margin of 14.71%. During the same period in the previous year, the business posted $1.29 earnings per share. Analysts expect that SLM Co. will post 2.65 EPS for the current year.

SLM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be given a dividend of $0.11 per share. The ex-dividend date is Thursday, August 31st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.08%. SLM’s payout ratio is currently 28.76%.

Wall Street Analysts Forecast Growth

SLM has been the subject of several analyst reports. Wedbush restated an “outperform” rating and set a $20.00 price target on shares of SLM in a report on Thursday, July 27th. StockNews.com initiated coverage on SLM in a report on Thursday, August 17th. They set a “hold” rating for the company. Compass Point increased their price objective on SLM from $18.00 to $19.00 in a research report on Tuesday, July 11th. Finally, Stephens increased their price objective on SLM from $15.00 to $17.00 and gave the company an “equal weight” rating in a research report on Friday, July 28th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, SLM has a consensus rating of “Moderate Buy” and an average target price of $17.91.

Get Our Latest Report on SLM

SLM Company Profile

(Free Report)

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 also offers retail deposit accounts, including certificates of deposit, money market deposit accounts, and high-yield savings accounts; and interest-bearing omnibus accounts.