The Manufacturers Life Insurance Company purchased a new stake in SLM Corporation (NASDAQ:SLM – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 129,101 shares of the credit services provider’s stock, valued at approximately $3,349,000. The Manufacturers Life Insurance Company owned 0.07% of SLM as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of SLM. Allworth Financial LP bought a new stake in shares of SLM during the 2nd quarter worth $55,000. EverSource Wealth Advisors LLC raised its holdings in SLM by 19.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,081 shares of the credit services provider’s stock worth $66,000 after acquiring an additional 501 shares during the period. Triumph Capital Management bought a new position in SLM in the 3rd quarter worth $69,000. Sanctuary Advisors LLC acquired a new position in SLM during the 2nd quarter worth $231,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in SLM during the 1st quarter worth $263,000. 98.94% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on SLM shares. Morgan Stanley upped their price target on shares of SLM from $27.00 to $28.00 and gave the company an “equal weight” rating in a report on Monday, July 20th. Royal Bank Of Canada lifted their price objective on SLM from $28.00 to $29.00 and gave the stock an “outperform” rating in a research note on Friday, July 10th. Barclays reissued an “equal weight” rating and set a $26.00 price objective (down from $30.00) on shares of SLM in a research report on Tuesday, July 7th. Wall Street Zen downgraded SLM from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Finally, JPMorgan Chase & Co. raised their target price 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 issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $29.80.
SLM Stock Performance
NASDAQ SLM opened at $25.77 on Wednesday. The company has a debt-to-equity ratio of 2.63, a current ratio of 1.33 and a quick ratio of 1.32. The firm has a market capitalization of $4.84 billion, a price-to-earnings ratio of 7.20, a P/E/G ratio of 2.26 and a beta of 0.96. The company’s fifty day moving average is $25.98 and its two-hundred day moving average is $23.22. SLM Corporation has a 52-week low of $17.77 and a 52-week high of $32.02.
SLM (NASDAQ:SLM – Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The credit services provider reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.17). SLM had a net margin of 26.09% and a return on equity of 33.81%. The company had revenue of $401.11 million for the quarter, compared to analyst estimates of $409.22 million. During the same period in the prior year, the company posted $0.32 EPS. The firm’s quarterly revenue was down .7% on a year-over-year basis. SLM has set its FY 2026 guidance at 3.100-3.200 EPS. Equities research analysts forecast that SLM Corporation will post 3.12 EPS for the current year.
SLM Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, September 4th will be given a $0.13 dividend. The ex-dividend date is Friday, September 4th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.0%. SLM’s dividend payout ratio (DPR) is currently 14.53%.
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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