Allspring Global Investments Holdings LLC Acquires 38,269 Shares of SLM Co. (NASDAQ:SLM)

Allspring Global Investments Holdings LLC increased its position in SLM Co. (NASDAQ:SLM - Free Report) by 294.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 51,248 shares of the credit services provider's stock after purchasing an additional 38,269 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in SLM were worth $1,172,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Blue Trust Inc. grew its stake in SLM by 358.7% during the 3rd quarter. Blue Trust Inc. now owns 1,399 shares of the credit services provider's stock valued at $32,000 after purchasing an additional 1,094 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of SLM during the second quarter worth approximately $60,000. Covestor Ltd increased its stake in shares of SLM by 378.1% in the first quarter. Covestor Ltd now owns 3,050 shares of the credit services provider's stock worth $66,000 after buying an additional 2,412 shares during the last quarter. GAMMA Investing LLC raised its holdings in SLM by 13.3% in the third quarter. GAMMA Investing LLC now owns 5,077 shares of the credit services provider's stock valued at $116,000 after acquiring an additional 594 shares in the last quarter. Finally, Headlands Technologies LLC boosted its stake in SLM by 257.5% during the 1st quarter. Headlands Technologies LLC now owns 8,329 shares of the credit services provider's stock valued at $181,000 after acquiring an additional 5,999 shares during the last quarter. 98.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Wedbush restated an "outperform" rating and set a $26.00 price objective on shares of SLM in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft raised their price objective on SLM from $25.00 to $29.00 and gave the stock a "buy" rating in a research note on Thursday, July 25th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $26.00 price objective on shares of SLM in a report on Thursday, October 24th. Bank of America initiated coverage on shares of SLM in a report on Wednesday, September 25th. They set a "buy" rating and a $27.00 target price on the stock. Finally, JPMorgan Chase & Co. decreased their price target on shares of SLM from $25.00 to $24.00 and set a "neutral" rating for the company in a report on Monday, October 7th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $25.45.

SLM Price Performance

NASDAQ SLM traded down $0.33 on Friday, reaching $21.70. The company's stock had a trading volume of 1,402,695 shares, compared to its average volume of 1,790,652. The firm's 50 day moving average is $22.04 and its two-hundred day moving average is $21.54. The stock has a market cap of $4.61 billion, a PE ratio of 7.56, a PEG ratio of 0.61 and a beta of 1.15. The company has a debt-to-equity ratio of 3.21, a quick ratio of 1.27 and a current ratio of 1.29. SLM Co. has a twelve month low of $13.52 and a twelve month high of $23.95.

SLM (NASDAQ:SLM - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported ($0.23) EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.30). The company had revenue of $652.64 million for the quarter, compared to analyst estimates of $363.40 million. SLM had a net margin of 22.18% and a return on equity of 35.92%. During the same quarter last year, the company posted $0.11 EPS. As a group, sell-side analysts predict that SLM Co. will post 2.75 EPS for the current year.

SLM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.40%. This is a boost from SLM's previous quarterly dividend of $0.11. The ex-dividend date is Thursday, December 5th. SLM's payout ratio is presently 18.12%.

SLM Profile

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.