SG Americas Securities LLC lifted its holdings in SLM Co. (NASDAQ:SLM – Free Report) by 40.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 140,224 shares of the credit services provider’s stock after buying an additional 40,064 shares during the quarter. SG Americas Securities LLC owned approximately 0.06% of SLM worth $2,288,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in shares of SLM in the first quarter worth approximately $36,000. CWM LLC raised its holdings in shares of SLM by 138.2% in the first quarter. CWM LLC now owns 3,713 shares of the credit services provider’s stock worth $46,000 after buying an additional 2,154 shares during the period. Industrial Alliance Investment Management Inc. raised its holdings in shares of SLM by 257.3% in the fourth quarter. Industrial Alliance Investment Management Inc. now owns 2,805 shares of the credit services provider’s stock worth $47,000 after buying an additional 2,020 shares during the period. Parkside Financial Bank & Trust raised its holdings in shares of SLM by 22.4% in the first quarter. Parkside Financial Bank & Trust now owns 6,711 shares of the credit services provider’s stock worth $123,000 after buying an additional 1,226 shares during the period. Finally, Vanguard Personalized Indexing Management LLC bought a new position in SLM in the first quarter worth approximately $131,000. 95.07% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at SLM
In other SLM 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 completion of the transaction, the executive vice president now owns 162,664 shares in the company, valued at approximately $2,622,143.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.91% of the company’s stock.
SLM Stock Performance
SLM (NASDAQ:SLM – Get Free Report) last released its quarterly earnings data on Wednesday, July 26th. The credit services provider reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.06). The company had revenue of $777.96 million for the quarter, compared to analysts’ expectations of $370.15 million. SLM had a net margin of 14.71% and a return on equity of 24.09%. During the same quarter in the previous year, the business posted $1.29 EPS. As a group, research analysts expect that SLM Co. will post 2.62 earnings per share for the current year.
SLM Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Thursday, August 31st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.11%. SLM’s payout ratio is currently 28.76%.
Analyst Ratings Changes
SLM has been the topic of several recent research reports. StockNews.com initiated coverage on SLM in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Wedbush reaffirmed an “outperform” rating and set a $20.00 target price on shares of SLM in a research report on Thursday, July 27th. Stephens increased their price objective on SLM from $15.00 to $17.00 and gave the company an “equal weight” rating in a report on Friday, July 28th. Finally, Compass Point increased their price objective on SLM from $18.00 to $19.00 in a report on Tuesday, July 11th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.91.
Check Out Our Latest Research Report on SLM
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 also offers retail deposit accounts, including certificates of deposit, money market deposit accounts, and high-yield savings accounts; and interest-bearing omnibus accounts.
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