SLM Corporation (NASDAQ:SLM) Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH cut its holdings in shares of SLM Corporation (NASDAQ:SLM - Free Report) by 16.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,279,152 shares of the credit services provider's stock after selling 452,251 shares during the period. Allianz Asset Management GmbH owned approximately 1.09% of SLM worth $66,939,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SLM. State of Alaska Department of Revenue increased its position in SLM by 1.8% during the first quarter. State of Alaska Department of Revenue now owns 24,657 shares of the credit services provider's stock worth $724,000 after buying an additional 440 shares during the last quarter. ProShare Advisors LLC lifted its stake in shares of SLM by 4.8% in the 4th quarter. ProShare Advisors LLC now owns 9,935 shares of the credit services provider's stock valued at $274,000 after acquiring an additional 455 shares during the last quarter. Merit Financial Group LLC raised its position 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 purchasing an additional 469 shares during the last quarter. Fifth Third Bancorp raised its position 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 purchasing an additional 469 shares during the last quarter. Finally, Kaizen Financial Strategies grew its holdings in SLM by 7.5% during the 1st quarter. Kaizen Financial Strategies now owns 9,177 shares of the credit services provider's stock worth $270,000 after acquiring an additional 639 shares during the period. 98.94% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Morgan Stanley reaffirmed an "overweight" rating and issued a $40.00 price target (up previously from $33.00) on shares of SLM in a research report on Wednesday, May 21st. Jefferies Financial Group boosted their price target on shares of SLM from $33.00 to $40.00 and gave the company a "buy" rating in a research report on Wednesday. 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 note on Friday. JPMorgan Chase & Co. upgraded SLM from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $29.00 to $38.00 in a report on Friday, July 11th. Finally, Royal Bank Of Canada reissued an "outperform" rating on shares of SLM in a research report on Monday, July 14th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, SLM currently has a consensus rating of "Moderate Buy" and a consensus price target of $34.45.

Insider Transactions at SLM

In other SLM news, Director Robert S. Strong sold 3,000 shares of SLM stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $31.15, for a total value of $93,450.00. Following the transaction, the director directly owned 35,195 shares of the company's stock, valued at approximately $1,096,324.25. The trade was a 7.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is currently owned by insiders.

SLM Price Performance

SLM stock traded up $0.62 during trading on Friday, reaching $32.63. The company's stock had a trading volume of 2,561,424 shares, compared to its average volume of 2,613,809. SLM Corporation has a 1 year low of $19.39 and a 1 year high of $34.97. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 2.86. The company has a market capitalization of $6.85 billion, a P/E ratio of 11.71, a price-to-earnings-growth ratio of 0.73 and a beta of 1.09. The company's fifty day moving average is $32.77 and its 200-day moving average is $30.33.

SLM (NASDAQ:SLM - Get Free Report) last announced its quarterly 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 business had revenue of $403.60 million during the quarter, compared to the consensus estimate of $370.26 million. SLM had a net margin of 21.05% and a return on equity of 31.25%. The firm's revenue was down 21.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.11 EPS. On average, research analysts expect 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 given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend is Thursday, September 4th. SLM's dividend payout ratio (DPR) is presently 18.71%.

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.