Quantbot Technologies LP acquired a new position in shares of SLM Corporation (NASDAQ:SLM – Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 69,041 shares of the credit services provider’s stock, valued at approximately $1,791,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of SLM. EverSource Wealth Advisors LLC grew its holdings in shares of SLM by 19.4% in the first quarter. EverSource Wealth Advisors LLC now owns 3,081 shares of the credit services provider’s stock valued at $66,000 after purchasing an additional 501 shares in the last quarter. NewEdge Advisors LLC lifted its position in SLM by 6.6% during the first quarter. NewEdge Advisors LLC now owns 21,350 shares of the credit services provider’s stock valued at $627,000 after purchasing an additional 1,319 shares during the last quarter. Captrust Financial Advisors lifted its position in SLM by 6.1% during the second quarter. Captrust Financial Advisors now owns 36,889 shares of the credit services provider’s stock valued at $1,210,000 after purchasing an additional 2,109 shares during the last quarter. Allworth Financial LP purchased a new position in shares of SLM in the 2nd quarter worth $55,000. Finally, GAMMA Investing LLC grew its stake in shares of SLM by 26.4% in the 2nd quarter. GAMMA Investing LLC now owns 11,579 shares of the credit services provider’s stock worth $300,000 after buying an additional 2,417 shares in the last quarter. 98.94% of the stock is currently owned by institutional investors.
SLM Trading Down 0.5%
NASDAQ SLM opened at $26.34 on Tuesday. The stock has a market cap of $4.95 billion, a PE ratio of 7.36, a PEG ratio of 2.30 and a beta of 0.96. SLM Corporation has a 12 month low of $17.77 and a 12 month high of $32.07. The company’s 50-day moving average price is $25.57 and its 200-day moving average price is $23.25. The company has a current ratio of 1.33, a quick ratio of 1.32 and a debt-to-equity ratio of 2.63.
SLM Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, September 4th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.52 annualized dividend and a yield of 2.0%. SLM’s dividend payout ratio is 14.53%.
Wall Street Analyst Weigh In
SLM has been the topic of several recent research reports. Barclays restated an “equal weight” rating and set a $26.00 target price (down from $30.00) on shares of SLM in a research report on Tuesday, July 7th. Morgan Stanley upped their price objective on SLM from $27.00 to $28.00 and gave the company an “equal weight” rating in a research report on Monday, July 20th. Wall Street Zen lowered SLM from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Royal Bank Of Canada boosted their target price on SLM from $28.00 to $29.00 and gave the company an “outperform” rating in a research report on Friday, July 10th. Finally, JPMorgan Chase & Co. increased their price target on SLM from $24.00 to $25.00 and gave the company an “underweight” rating in a report on Monday, July 13th. Five analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $29.80.
Get Our Latest Stock Analysis on SLM
About SLM
SLM Corporation, operating as Sallie Mae Bank, is a leading U.S.-based consumer banking company specializing in education financing and related banking products. The company provides a range of private student loans for undergraduate and graduate studies, Parent PLUS loans, and specialized financing for career and certificate programs. In addition to its core lending services, Sallie Mae offers deposit products including savings accounts, checking accounts, money market accounts, certificates of deposit, and credit cards tailored to students and young adults.
Founded in 1972 as the Student Loan Marketing Association—a government-sponsored enterprise—Sallie Mae was privatized in 2004 and has since focused on expanding its private education loan offerings and digital banking solutions.
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