Sciencast Management LP Purchases Shares of 55,615 SLM Corporation $SLM

Key Points

• Sciencast Management LP acquired 55,615 shares of SLM Corporation valued at approximately $1.6 million during the first quarter, reflecting ongoing interest from institutional investors in SLM stock.
• SLM Corporation's quarterly earnings reported $0.32 EPS, missing the consensus estimate of $0.49, with revenue declining 21.4% year-over-year.
• SLM announced a quarterly dividend of $0.13, set to be paid on September 15th, representing an annual yield of 1.7% with a payout ratio of 26.13%.

Sciencast Management LP acquired a new position in shares of SLM Corporation (NASDAQ:SLM - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 55,615 shares of the credit services provider's stock, valued at approximately $1,633,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. AlphaQuest LLC grew its holdings in SLM by 1.1% during the 1st quarter. AlphaQuest LLC now owns 36,509 shares of the credit services provider's stock worth $1,072,000 after acquiring an additional 408 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in SLM by 1.8% during the 1st quarter. State of Alaska Department of Revenue now owns 24,657 shares of the credit services provider's stock worth $724,000 after acquiring an additional 440 shares in the last quarter. ProShare Advisors LLC grew its holdings in SLM by 4.8% during the 4th quarter. ProShare Advisors LLC now owns 9,935 shares of the credit services provider's stock worth $274,000 after acquiring an additional 455 shares in the last quarter. Merit Financial Group LLC grew its holdings in SLM by 6.4% during the 1st quarter. Merit Financial Group LLC now owns 7,800 shares of the credit services provider's stock worth $229,000 after acquiring an additional 469 shares in the last quarter. Finally, 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 in the last quarter. 98.94% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SLM. JPMorgan Chase & Co. upgraded shares of SLM from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $29.00 to $38.00 in a research report on Friday, July 11th. Morgan Stanley restated an "overweight" rating and set a $40.00 price target (up from $33.00) on shares of SLM in a research report on Wednesday, May 21st. Wells Fargo & Company initiated coverage on shares of SLM in a research note on Monday, August 25th. They issued an "overweight" rating and a $38.00 price objective on the stock. Barclays lifted their target price on shares of SLM from $38.00 to $43.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Finally, Jefferies Financial Group lifted their target price on shares of SLM from $33.00 to $40.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, SLM has a consensus rating of "Moderate Buy" and an average target price of $35.00.

SLM Stock Down 3.1%

NASDAQ SLM traded down $0.90 during trading on Friday, reaching $28.13. The company's stock had a trading volume of 4,094,873 shares, compared to its average volume of 2,093,888. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 3.02. The stock has a market capitalization of $5.86 billion, a PE ratio of 14.14, a PEG ratio of 0.80 and a beta of 1.11. The business has a 50-day moving average price of $31.80 and a 200-day moving average price of $30.85. SLM Corporation has a 1-year low of $21.05 and a 1-year high of $34.97.

SLM (NASDAQ:SLM - Get Free Report) last posted 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 analyst estimates of $370.26 million. During the same quarter last year, the firm earned $1.11 earnings per share. SLM's revenue was down 21.4% compared to the same quarter last year. SLM has set its FY 2025 guidance at 3.000-3.100 EPS. On average, research 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. Investors of record on Thursday, September 4th will be given 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 yield of 1.8%. SLM's payout ratio is 26.13%.

Insider Transactions at SLM

In related news, EVP Kerri A. Palmer sold 55,000 shares of the business's stock in a transaction on 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 transaction, the executive vice president owned 119,253 shares of the company's stock, valued at approximately $3,841,139.13. The trade was a 31.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.30% of the company's stock.

About SLM

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.