ClariVest Asset Management LLC Acquires New Position in SLM Corp (NASDAQ:SLM)

ClariVest Asset Management LLC acquired a new stake in shares of SLM Corp (NASDAQ:SLM) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 243,100 shares of the credit services provider’s stock, valued at approximately $2,409,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Strs Ohio lifted its position in shares of SLM by 81.8% in the 4th quarter. Strs Ohio now owns 42,109 shares of the credit services provider’s stock worth $349,000 after purchasing an additional 18,948 shares during the period. Crossmark Global Holdings Inc. lifted its position in shares of SLM by 22.8% in the 4th quarter. Crossmark Global Holdings Inc. now owns 52,506 shares of the credit services provider’s stock worth $436,000 after purchasing an additional 9,750 shares during the period. Rhumbline Advisers lifted its position in shares of SLM by 44.7% in the 4th quarter. Rhumbline Advisers now owns 1,170,075 shares of the credit services provider’s stock worth $9,723,000 after purchasing an additional 361,420 shares during the period. Dupont Capital Management Corp purchased a new stake in shares of SLM in the 4th quarter worth about $299,000. Finally, TD Asset Management Inc. lifted its position in shares of SLM by 1.6% in the 4th quarter. TD Asset Management Inc. now owns 549,201 shares of the credit services provider’s stock worth $4,564,000 after purchasing an additional 8,500 shares during the period.

Several equities research analysts have recently commented on SLM shares. ValuEngine cut shares of SLM from a “hold” rating to a “sell” rating in a research report on Tuesday, March 5th. BidaskClub cut shares of SLM from a “hold” rating to a “sell” rating in a research report on Wednesday, March 13th. Zacks Investment Research cut shares of SLM from a “buy” rating to a “hold” rating in a research report on Tuesday, April 9th. Oppenheimer set a $14.00 price target on shares of SLM and gave the company a “buy” rating in a research report on Sunday, April 21st. Finally, Wedbush set a $13.00 price target on shares of SLM and gave the company a “buy” rating in a research report on Monday, April 22nd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $13.00.

Shares of NASDAQ SLM opened at $9.60 on Friday. SLM Corp has a 1 year low of $7.95 and a 1 year high of $12.16. The stock has a market cap of $4.23 billion, a P/E ratio of 8.97, a price-to-earnings-growth ratio of 0.43 and a beta of 1.44. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.38 and a quick ratio of 1.38.

SLM (NASDAQ:SLM) last issued its quarterly earnings results on Wednesday, April 17th. The credit services provider reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.04. SLM had a net margin of 25.77% and a return on equity of 20.28%. The company had revenue of $402.28 million during the quarter, compared to analysts’ expectations of $384.70 million. During the same period last year, the company posted $0.28 EPS. SLM’s revenue was up 20.9% on a year-over-year basis. As a group, research analysts forecast that SLM Corp will post 1.26 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, June 7th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $0.12 dividend on an annualized basis and a yield of 1.25%. SLM’s dividend payout ratio (DPR) is currently 11.21%.

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SLM Company Profile

SLM Corporation, through its subsidiaries, operates as a saving, planning, and paying for college company in the United States. The company originates and services private education loans to students or their families. It also offers retail deposit accounts, including certificates of deposit, money market deposit accounts, and high yield savings accounts; omnibus accounts; and a consumer savings network that provides financial rewards on everyday purchases to help families save for college.

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Institutional Ownership by Quarter for SLM (NASDAQ:SLM)

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