Federated Hermes Inc. Has $1.03 Million Stock Position in SLM Co. (NASDAQ:SLM)

Federated Hermes Inc. reduced its stake in shares of SLM Co. (NASDAQ:SLM – Get Rating) by 32.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 73,859 shares of the credit services provider’s stock after selling 35,422 shares during the period. Federated Hermes Inc.’s holdings in SLM were worth $1,034,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. AlphaCrest Capital Management LLC grew its stake in shares of SLM by 196.2% during the 3rd quarter. AlphaCrest Capital Management LLC now owns 91,109 shares of the credit services provider’s stock worth $1,275,000 after acquiring an additional 60,347 shares in the last quarter. Impactive Capital LP grew its stake in shares of SLM by 10.1% in the third quarter. Impactive Capital LP now owns 22,593,389 shares of the credit services provider’s stock valued at $316,082,000 after buying an additional 2,080,790 shares in the last quarter. Royal Bank of Canada grew its stake in shares of SLM by 5.4% in the third quarter. Royal Bank of Canada now owns 356,107 shares of the credit services provider’s stock valued at $4,983,000 after buying an additional 18,233 shares in the last quarter. Tudor Investment Corp Et Al bought a new position in shares of SLM in the third quarter valued at $451,000. Finally, Point72 Hong Kong Ltd bought a new position in shares of SLM in the third quarter valued at $802,000. 96.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SLM. BMO Capital Markets decreased their target price on shares of SLM from $19.00 to $17.00 and set a “market perform” rating for the company in a research note on Monday, February 6th. Morgan Stanley reduced their price objective on shares of SLM from $15.00 to $14.00 and set an “underweight” rating for the company in a research report on Friday, February 3rd. Wells Fargo & Company cut shares of SLM from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $19.00 to $16.00 in a research report on Friday, February 3rd. Barclays reduced their price objective on shares of SLM from $22.00 to $20.00 and set an “overweight” rating for the company in a research report on Friday, February 3rd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of SLM from $17.00 to $18.00 in a research report on Tuesday, January 10th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, SLM presently has a consensus rating of “Hold” and an average price target of $17.92.

SLM Stock Performance

SLM stock opened at $12.25 on Tuesday. SLM Co. has a 12-month low of $11.61 and a 12-month high of $20.17. The company has a quick ratio of 1.21, a current ratio of 1.22 and a debt-to-equity ratio of 3.55. The business’s 50-day moving average price is $15.67 and its two-hundred day moving average price is $15.86. The stock has a market cap of $2.95 billion, a PE ratio of 7.21 and a beta of 1.22.

SLM (NASDAQ:SLM – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The credit services provider reported ($0.33) earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.79). The firm had revenue of $542.96 million for the quarter, compared to the consensus estimate of $358.11 million. SLM had a return on equity of 27.83% and a net margin of 19.82%. During the same quarter last year, the firm posted $1.05 earnings per share. As a group, analysts expect that SLM Co. will post 2.46 earnings per share for the current fiscal year.

SLM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Friday, March 3rd will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 3.59%. The ex-dividend date is Thursday, March 2nd. SLM’s payout ratio is presently 25.88%.

SLM Company Profile

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SLM Corp. engages in the provision and administration of education loans. Its services include private education loans, banking, college savings, and insurance services. The company was founded in 1972 and is headquartered in Newark, DE.