SLM Co. (NASDAQ:SLM) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC grew its position in shares of SLM Co. (NASDAQ:SLM) by 3,400.9% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 235,959 shares of the credit services provider’s stock after purchasing an additional 229,219 shares during the period. GAMMA Investing LLC owned approximately 0.11% of SLM worth $6,930,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in SLM. Capital Research Global Investors acquired a new position in SLM during the fourth quarter worth $144,101,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of SLM during the fourth quarter worth $140,442,000. T. Rowe Price Investment Management Inc. purchased a new stake in shares of SLM during the fourth quarter worth $76,362,000. Duquesne Family Office LLC purchased a new stake in shares of SLM during the fourth quarter worth $69,509,000. Finally, Norges Bank purchased a new stake in shares of SLM during the fourth quarter worth $68,603,000. 98.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at SLM

In related news, Director Robert S. Strong sold 3,000 shares of the firm’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $31.15, for a total value of $93,450.00. Following the completion of the sale, the director now owns 35,195 shares in the company, valued at $1,096,324.25. This trade represents a 7.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is owned by insiders.

SLM Stock Performance

Shares of SLM stock opened at $32.16 on Monday. SLM Co. has a 1 year low of $19.39 and a 1 year high of $34.55. The firm has a market cap of $6.75 billion, a price-to-earnings ratio of 12.14, a PEG ratio of 0.86 and a beta of 1.10. The stock’s 50-day moving average is $30.00 and its two-hundred day moving average is $29.10. The company has a debt-to-equity ratio of 3.37, a quick ratio of 1.27 and a current ratio of 1.32.

SLM (NASDAQ:SLM) last announced its earnings results on Thursday, April 24th. The credit services provider reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.21. SLM had a net margin of 20.73% and a return on equity of 31.66%. The business had revenue of $374.97 million during the quarter, compared to the consensus estimate of $359.83 million. During the same quarter in the prior year, the firm earned $1.27 earnings per share. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. Analysts predict that SLM Co. will post 3.07 earnings per share for the current year.

SLM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Thursday, June 5th will be given a $0.13 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $0.52 dividend on an annualized basis and a yield of 1.62%. SLM’s payout ratio is currently 18.71%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SLM shares. JPMorgan Chase & Co. cut their price objective on SLM from $30.00 to $27.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Barclays upped their price objective on SLM from $34.00 to $38.00 and gave the stock an “overweight” rating in a research report on Friday, May 30th. Morgan Stanley reaffirmed an “overweight” rating and set a $40.00 price objective (up previously from $33.00) on shares of SLM in a research report on Wednesday, May 21st. Finally, Wells Fargo & Company increased their target price on SLM from $34.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, May 14th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $32.30.

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.