SLM Corporation $SLM Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP cut its holdings in shares of SLM Corporation (NASDAQ:SLM) by 95.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,377 shares of the credit services provider’s stock after selling 1,073,379 shares during the period. Wellington Management Group LLP’s holdings in SLM were worth $1,568,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Northern Trust Corp lifted its position in SLM by 0.6% during the first quarter. Northern Trust Corp now owns 2,654,575 shares of the credit services provider’s stock valued at $77,965,000 after purchasing an additional 15,662 shares during the period. Gator Capital Management LLC lifted its position in SLM by 6.8% during the first quarter. Gator Capital Management LLC now owns 405,805 shares of the credit services provider’s stock valued at $11,918,000 after purchasing an additional 26,000 shares during the period. American Century Companies Inc. lifted its position in SLM by 2.9% during the first quarter. American Century Companies Inc. now owns 5,325,274 shares of the credit services provider’s stock valued at $156,403,000 after purchasing an additional 149,629 shares during the period. Fox Run Management L.L.C. acquired a new position in SLM during the first quarter valued at $375,000. Finally, Vestmark Advisory Solutions Inc. acquired a new position in SLM during the first quarter valued at $473,000. 98.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SLM has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised shares of SLM from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $29.00 to $38.00 in a report on Friday, July 11th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of SLM in a report on Monday, July 14th. Jefferies Financial Group lifted their price objective on shares of SLM from $33.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Wells Fargo & Company initiated coverage on shares of SLM in a report on Monday, August 25th. They issued an “overweight” rating and a $38.00 price objective for the company. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $40.00 price objective (up previously from $33.00) on shares of SLM in a report on Wednesday, May 21st. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, SLM currently has an average rating of “Moderate Buy” and an average price target of $35.00.

SLM Stock Down 0.1%

SLM stock opened at $31.28 on Friday. The stock has a market capitalization of $6.52 billion, a P/E ratio of 15.72, a P/E/G ratio of 0.88 and a beta of 1.13. The firm has a 50-day simple moving average of $32.35 and a 200-day simple moving average of $30.91. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 3.02. SLM Corporation has a 52 week low of $19.64 and a 52 week high of $34.97.

SLM (NASDAQ:SLM) last released its earnings results on Thursday, July 24th. The credit services provider reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.17). The company had revenue of $403.60 million for the quarter, compared to analysts’ expectations of $370.26 million. SLM had a return on equity of 21.93% and a net margin of 15.46%.The firm’s revenue for the quarter was down 21.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.11 EPS. SLM has set its FY 2025 guidance at 3.000-3.100 EPS. Equities analysts forecast that SLM Corporation will post 3.07 earnings per share for the current fiscal year.

SLM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Thursday, September 4th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.7%. SLM’s payout ratio is currently 26.13%.

Insider Activity at SLM

In other news, EVP Kerri A. Palmer sold 55,000 shares of the business’s stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $32.21, for a total transaction of $1,771,550.00. Following the completion of the sale, the executive vice president owned 119,253 shares of the company’s stock, valued at $3,841,139.13. The trade was a 31.56% decrease in their ownership of the stock. The transaction 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 corporate insiders.

SLM Company 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.