SouthState Corp acquired a new position in shares of SLM Co. (NASDAQ:SLM - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 29,500 shares of the credit services provider's stock, valued at approximately $814,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Corient Private Wealth LLC increased its holdings in shares of SLM by 5.4% during the fourth quarter. Corient Private Wealth LLC now owns 24,089 shares of the credit services provider's stock worth $664,000 after buying an additional 1,231 shares in the last quarter. Catalyst Funds Management Pty Ltd acquired a new stake in SLM during the 4th quarter valued at $298,000. Commonwealth Equity Services LLC bought a new position in SLM in the 4th quarter valued at $405,000. Thompson Siegel & Walmsley LLC boosted its stake in SLM by 0.9% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 461,586 shares of the credit services provider's stock worth $12,731,000 after purchasing an additional 4,075 shares in the last quarter. Finally, Vestcor Inc acquired a new position in SLM in the fourth quarter worth $446,000. 98.94% of the stock is owned by institutional investors.
Insider Activity at SLM
In other SLM news, Director Robert S. Strong sold 40,000 shares of the company's stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $28.57, for a total transaction of $1,142,800.00. Following the completion of the transaction, the director now owns 43,163 shares of the company's stock, valued at $1,233,166.91. This represents a 48.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.20% of the stock is currently owned by insiders.
Analyst Ratings Changes
A number of research firms recently issued reports on SLM. Morgan Stanley lifted their price target on SLM from $32.00 to $38.00 and gave the company an "overweight" rating in a report on Monday, March 10th. Royal Bank of Canada upped their target price 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 raised their price target on shares of SLM from $31.00 to $34.00 and gave the company a "buy" rating in a report on Friday, January 24th. Wells Fargo & Company upped their price objective on SLM from $32.00 to $33.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Finally, Barclays lifted their target price on SLM from $34.00 to $38.00 and gave the company an "overweight" rating in a research note on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $31.45.
Check Out Our Latest Stock Report on SLM
SLM Trading Down 0.6 %
Shares of SLM stock traded down $0.17 on Friday, reaching $29.70. The company had a trading volume of 22,118,169 shares, compared to its average volume of 2,029,864. The stock has a market cap of $6.25 billion, a PE ratio of 11.21, a PEG ratio of 0.86 and a beta of 1.23. The company has a 50-day moving average of $29.34 and a 200-day moving average of $26.04. The company has a current ratio of 1.32, a quick ratio of 1.27 and a debt-to-equity ratio of 3.37. SLM Co. has a 12 month low of $19.39 and a 12 month high of $32.65.
SLM (NASDAQ:SLM - Get Free Report) last issued its earnings results on Thursday, January 23rd. The credit services provider reported $0.50 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.06). SLM had a net margin of 20.73% and a return on equity of 31.66%. On average, equities analysts forecast that SLM Co. will post 3.07 earnings per share for the current year.
SLM Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Wednesday, March 5th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend was Wednesday, March 5th. SLM's dividend payout ratio (DPR) is presently 19.62%.
SLM Profile
(
Free Report)
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.
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