Caisse DE Depot ET Placement DU Quebec Takes $1.39 Million Position in SLM Corporation $SLM

Key Points

• Caisse DE Depot ET Placement DU Quebec acquired 47,400 shares of SLM Corporation for approximately $1.4 million in Q1 2023, increasing institutional ownership of the company to 98.94%.
• SLM reported $0.32 earnings per share for the last quarter, missing estimates and reflecting a 21.4% year-over-year revenue decline.
• The company announced a quarterly dividend of $0.13 per share, representing a yield of 1.7%, with the ex-dividend date set for September 4th.

Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of SLM Corporation (NASDAQ:SLM - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 47,400 shares of the credit services provider's stock, valued at approximately $1,392,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. J.Safra Asset Management Corp bought a new position in shares of SLM in the 1st quarter valued at about $25,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in SLM in the first quarter valued at approximately $45,000. Fifth Third Bancorp grew its holdings in SLM by 37.7% during the 1st quarter. Fifth Third Bancorp now owns 1,714 shares of the credit services provider's stock worth $50,000 after acquiring an additional 469 shares during the period. UMB Bank n.a. raised its position in shares of SLM by 355.4% during the 1st quarter. UMB Bank n.a. now owns 1,899 shares of the credit services provider's stock valued at $56,000 after acquiring an additional 1,482 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of SLM in the 1st quarter valued at $62,000. 98.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on SLM shares. Morgan Stanley reiterated 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. Wells Fargo & Company assumed coverage on shares of SLM in a research report on Monday, August 25th. They issued an "overweight" rating and a $38.00 price objective on the stock. JPMorgan Chase & Co. raised SLM from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $29.00 to $38.00 in a research report on Friday, July 11th. Barclays raised their price objective on SLM from $38.00 to $43.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Finally, Royal Bank Of Canada restated an "outperform" rating on shares of SLM in a report on Monday, July 14th. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $35.00.

SLM Price Performance

NASDAQ SLM traded up $0.36 on Thursday, hitting $31.10. 305,560 shares of the company's stock were exchanged, compared to its average volume of 2,508,148. The stock has a 50-day moving average of $32.29 and a 200-day moving average of $30.92. The stock has a market cap of $6.48 billion, a price-to-earnings ratio of 15.62, a P/E/G ratio of 0.88 and a beta of 1.11. The company has a current ratio of 1.35, a quick 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 - Get Free Report) last released its earnings results on Thursday, July 24th. The credit services provider reported $0.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.49 by ($0.17). SLM had a net margin of 15.46% and a return on equity of 21.93%. The business had revenue of $403.60 million during the quarter, compared to the consensus estimate of $370.26 million. During the same quarter in the prior year, the firm earned $1.11 EPS. The business's revenue was down 21.4% on a year-over-year basis. SLM has set its FY 2025 guidance at 3.000-3.100 EPS. Analysts expect that SLM Corporation 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, September 15th. Investors of record on Thursday, September 4th will be given a dividend of $0.13 per share. The ex-dividend date is Thursday, September 4th. This represents a $0.52 dividend on an annualized basis and a yield of 1.7%. SLM's payout ratio is currently 26.13%.

Insider Buying and Selling at SLM

In other news, EVP Kerri A. Palmer sold 55,000 shares of the company's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $32.21, for a total value of $1,771,550.00. Following the completion of the transaction, the executive vice president owned 119,253 shares of the company's stock, valued at $3,841,139.13. This represents a 31.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 1.30% of the company's stock.

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.