Capital Research Global Investors Takes $144.10 Million Position in SLM Co. (NASDAQ:SLM)

Capital Research Global Investors acquired a new position in SLM Co. (NASDAQ:SLM - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 5,224,849 shares of the credit services provider's stock, valued at approximately $144,101,000. Capital Research Global Investors owned approximately 2.46% of SLM at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Blue Trust Inc. grew its holdings in SLM by 32.2% during the 4th quarter. Blue Trust Inc. now owns 1,849 shares of the credit services provider's stock worth $51,000 after acquiring an additional 450 shares in the last quarter. Private Trust Co. NA raised its stake in SLM by 86.4% during the fourth quarter. Private Trust Co. NA now owns 971 shares of the credit services provider's stock valued at $27,000 after buying an additional 450 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in SLM by 1.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 33,825 shares of the credit services provider's stock worth $933,000 after buying an additional 552 shares during the last quarter. Xponance Inc. grew its position in shares of SLM by 3.1% in the 4th quarter. Xponance Inc. now owns 24,263 shares of the credit services provider's stock worth $669,000 after acquiring an additional 729 shares in the last quarter. Finally, Truist Financial Corp increased its holdings in shares of SLM by 11.9% in the 4th quarter. Truist Financial Corp now owns 9,052 shares of the credit services provider's stock valued at $250,000 after acquiring an additional 960 shares during the last quarter. 98.94% of the stock is currently owned by institutional investors and hedge funds.

SLM Stock Performance

Shares of NASDAQ:SLM traded down $0.39 on Friday, hitting $27.75. The company's stock had a trading volume of 3,228,947 shares, compared to its average volume of 2,198,041. The company has a market capitalization of $5.84 billion, a price-to-earnings ratio of 10.47, a price-to-earnings-growth ratio of 0.86 and a beta of 1.05. The stock's 50-day moving average is $28.48 and its two-hundred day moving average is $27.13. SLM Co. has a 12 month low of $19.39 and a 12 month high of $32.65. 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 - Get Free Report) last released its earnings results on Thursday, April 24th. The credit services provider reported $1.40 earnings per share for the quarter, topping analysts' consensus estimates of $1.19 by $0.21. The firm had revenue of $374.97 million during the quarter, compared to the consensus estimate of $359.83 million. SLM had a return on equity of 31.66% and a net margin of 20.73%. On average, equities research analysts forecast that SLM Co. will post 3.07 EPS for the current year.

SLM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Thursday, June 5th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $0.52 annualized dividend and a dividend yield of 1.87%. SLM's dividend payout ratio is currently 19.62%.

Wall Street Analyst Weigh In

SLM has been the subject of a number of research reports. Barclays lifted their price objective on shares of SLM from $34.00 to $38.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. Morgan Stanley reaffirmed an "overweight" rating and set a $33.00 price objective (up previously from $31.00) on shares of SLM in a research report on Friday. Royal Bank of Canada raised their target price on shares of SLM from $30.00 to $32.00 and gave the stock an "outperform" rating in a report on Friday, January 24th. Keefe, Bruyette & Woods upped their target price on SLM from $30.00 to $32.00 and gave the company a "market perform" rating in a report on Friday, January 24th. Finally, Compass Point raised their price target on SLM from $31.00 to $34.00 and gave the stock a "buy" rating in a report on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $30.73.

Insider Transactions at SLM

In related news, Director Robert S. Strong sold 40,000 shares of the stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $28.57, for a total value of $1,142,800.00. Following the completion of the sale, the director now directly owns 43,163 shares of the company's stock, valued at approximately $1,233,166.91. This represents a 48.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.20% of the stock is owned by insiders.

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.