Allspring Global Investments Holdings LLC Raises Stock Holdings in SLM Co. (NASDAQ:SLM)

Allspring Global Investments Holdings LLC increased its stake in shares of SLM Co. (NASDAQ:SLM - Free Report) by 314.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 212,531 shares of the credit services provider's stock after buying an additional 161,283 shares during the period. Allspring Global Investments Holdings LLC owned 0.10% of SLM worth $5,813,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Waldron Private Wealth LLC acquired a new position in shares of SLM in the 3rd quarter valued at approximately $31,000. True Wealth Design LLC acquired a new position in shares of SLM in the 3rd quarter valued at approximately $31,000. Blue Trust Inc. raised its position in shares of SLM by 358.7% in the 3rd quarter. Blue Trust Inc. now owns 1,399 shares of the credit services provider's stock valued at $32,000 after buying an additional 1,094 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of SLM in the 3rd quarter valued at approximately $35,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of SLM in the 4th quarter valued at approximately $86,000. Institutional investors own 98.94% of the company's stock.

SLM Stock Performance

NASDAQ SLM traded down $1.35 during trading hours on Friday, reaching $30.68. 5,500,445 shares of the company were exchanged, compared to its average volume of 2,490,887. SLM Co. has a 1 year low of $19.39 and a 1 year high of $32.65. The business's 50 day simple moving average is $28.68 and its 200-day simple moving average is $24.92. The company has a quick ratio of 1.27, a current ratio of 1.32 and a debt-to-equity ratio of 3.37. The stock has a market capitalization of $6.51 billion, a P/E ratio of 11.58, a P/E/G ratio of 0.86 and a beta of 1.22.

SLM (NASDAQ:SLM - Get Free Report) last issued its earnings results on Thursday, January 23rd. The credit services provider reported $0.50 earnings per share for the quarter, missing analysts' consensus estimates of $0.56 by ($0.06). SLM had a return on equity of 31.66% and a net margin of 20.73%. On average, equities research analysts expect that SLM Co. will post 3.07 earnings per share for the current year.

SLM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.13 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.52 annualized dividend and a yield of 1.69%. SLM's payout ratio is presently 19.62%.

Insider Buying and Selling at SLM

In other SLM news, Director Robert S. Strong sold 4,500 shares of SLM stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $27.25, for a total transaction of $122,625.00. Following the transaction, the director now directly owns 83,130 shares of the company's stock, valued at approximately $2,265,292.50. This trade represents a 5.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

SLM has been the subject of a number of research analyst reports. Royal Bank of Canada upped their price objective on shares of SLM from $30.00 to $32.00 and gave the stock an "outperform" rating in a research report on Friday, January 24th. Compass Point upped their price objective on shares of SLM from $31.00 to $34.00 and gave the stock a "buy" rating in a research report on Friday, January 24th. Morgan Stanley upped their price objective on shares of SLM from $26.00 to $32.00 and gave the stock an "overweight" rating in a research report on Thursday, December 19th. Keefe, Bruyette & Woods upped their price objective on shares of SLM from $30.00 to $32.00 and gave the stock a "market perform" rating in a research report on Friday, January 24th. Finally, Barclays upped their price objective on shares of SLM from $34.00 to $38.00 and gave the stock an "overweight" rating in a research report on Tuesday. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $30.91.

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 is also involved in the provision of retail deposit accounts, including certificates of deposit, money market accounts, and high-yield savings accounts; and interest-bearing omnibus accounts.