Allspring Global Investments Holdings LLC Has $516,000 Position in SLM Co. (NASDAQ:SLM)

Allspring Global Investments Holdings LLC reduced its stake in SLM Co. (NASDAQ:SLM) by 4.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,611 shares of the credit services provider’s stock after selling 1,597 shares during the period. Allspring Global Investments Holdings LLC’s holdings in SLM were worth $516,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Creative Planning bought a new position in SLM in the 2nd quarter valued at approximately $432,000. Friedenthal Financial bought a new position in SLM in the 2nd quarter valued at approximately $675,000. Louisiana State Employees Retirement System raised its holdings in SLM by 10.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 70,800 shares of the credit services provider’s stock valued at $1,155,000 after buying an additional 6,900 shares during the last quarter. New Mexico Educational Retirement Board raised its holdings in SLM by 8.6% in the 2nd quarter. New Mexico Educational Retirement Board now owns 49,200 shares of the credit services provider’s stock valued at $803,000 after buying an additional 3,900 shares during the last quarter. Finally, Schaper Benz & Wise Investment Counsel Inc. WI raised its holdings in SLM by 4.0% in the 2nd quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 310,154 shares of the credit services provider’s stock valued at $5,062,000 after buying an additional 11,920 shares during the last quarter. 95.07% of the stock is currently owned by institutional investors and hedge funds.

SLM Trading Down 0.1 %

Shares of SLM opened at $14.70 on Friday. The business’s 50-day moving average price is $13.74 and its 200-day moving average price is $14.97. SLM Co. has a twelve month low of $10.81 and a twelve month high of $17.92. The stock has a market cap of $3.33 billion, a PE ratio of 10.89 and a beta of 1.22. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 3.56.

SLM (NASDAQ:SLM) last announced its quarterly earnings results on Wednesday, October 25th. The credit services provider reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.22). SLM had a net margin of 12.76% and a return on equity of 21.83%. The company had revenue of $409.00 million for the quarter, compared to the consensus estimate of $381.34 million. During the same quarter in the prior year, the company earned $0.29 earnings per share. The company’s quarterly revenue was down 12.0% on a year-over-year basis. On average, equities analysts forecast that SLM Co. will post 2.57 EPS for the current fiscal year.

SLM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Monday, December 4th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 2.99%. The ex-dividend date is Friday, December 1st. SLM’s payout ratio is 32.59%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Morgan Stanley lowered their price target on shares of SLM from $17.00 to $16.00 and set an “overweight” rating for the company in a report on Friday, October 27th. Citigroup lowered their price target on shares of SLM from $16.00 to $14.00 and set a “neutral” rating for the company in a report on Friday, October 6th. Stephens raised their price target on shares of SLM from $15.00 to $17.00 and gave the stock an “equal weight” rating in a report on Friday, July 28th. TheStreet lowered shares of SLM from a “b” rating to a “c” rating in a report on Wednesday, October 25th. Finally, Wells Fargo & Company lowered their price target on shares of SLM from $17.00 to $14.00 and set an “equal weight” rating for the company in a report on Tuesday, October 17th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.00.

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 also offers retail deposit accounts, including certificates of deposit, money market deposit accounts, and high-yield savings accounts; and interest-bearing omnibus accounts.