Arnhold LLC Has $29.99 Million Stock Holdings in SLM Corporation $SLM

Key Points

• Arnhold LLC reduced its stake in SLM Corporation by 5.7%, selling 61,717 shares and now holds 1,021,084 shares, representing 3.0% of its portfolio.
• In recent analyst reports, SLM's stock has garnered positive ratings from multiple institutions, with target prices raised to between $38.00 and $43.00.
• The company announced a quarterly dividend of $0.13, providing a yield of 1.7%, with payment scheduled for September 15th.

Arnhold LLC reduced its holdings in SLM Corporation (NASDAQ:SLM - Free Report) by 5.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,021,084 shares of the credit services provider's stock after selling 61,717 shares during the period. SLM makes up 3.0% of Arnhold LLC's portfolio, making the stock its 5th largest holding. Arnhold LLC owned approximately 0.49% of SLM worth $29,989,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SLM. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of SLM in the 4th quarter worth $140,442,000. T. Rowe Price Investment Management Inc. purchased a new position in shares of SLM in the 4th quarter worth $76,362,000. Duquesne Family Office LLC purchased a new position in shares of SLM in the 4th quarter worth $69,509,000. M.D. Sass LLC bought a new stake in shares of SLM in the 1st quarter worth about $37,317,000. Finally, Wellington Management Group LLP lifted its holdings in shares of SLM by 470.6% in the 4th quarter. Wellington Management Group LLP now owns 1,126,756 shares of the credit services provider's stock worth $31,076,000 after acquiring an additional 929,292 shares during the last quarter. 98.94% of the stock is owned by hedge funds and other institutional investors.

SLM Stock Up 1.1%

Shares of NASDAQ:SLM traded up $0.34 during trading hours on Tuesday, hitting $31.85. The company's stock had a trading volume of 1,959,632 shares, compared to its average volume of 2,545,573. SLM Corporation has a 52 week low of $19.64 and a 52 week high of $34.97. The company has a debt-to-equity ratio of 3.02, a current ratio of 1.35 and a quick ratio of 1.35. The company has a market capitalization of $6.64 billion, a price-to-earnings ratio of 16.01, a P/E/G ratio of 0.89 and a beta of 1.13. The firm's fifty day moving average price is $32.35 and its 200 day moving average price is $30.86.

SLM (NASDAQ:SLM - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The credit services provider reported $0.32 EPS for the quarter, missing the consensus estimate 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 posted $1.11 EPS. The company's revenue for the quarter was down 21.4% compared to the same quarter last year. SLM has set its FY 2025 guidance at 3.000-3.100 EPS. As a group, research analysts expect that SLM Corporation will post 3.07 EPS for the current year.

SLM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Thursday, September 4th will be issued a $0.13 dividend. The ex-dividend date is Thursday, September 4th. This represents a $0.52 annualized dividend and a dividend yield of 1.6%. SLM's payout ratio is currently 26.13%.

Wall Street Analyst Weigh In

SLM has been the subject of several analyst reports. Morgan Stanley restated an "overweight" rating and issued a $40.00 target price (up previously from $33.00) on shares of SLM in a report on Wednesday, May 21st. Royal Bank Of Canada restated an "outperform" rating on shares of SLM in a report on Monday, July 14th. Wells Fargo & Company initiated coverage on shares of SLM in a report on Monday. They issued an "overweight" rating and a $38.00 target price for the company. JPMorgan Chase & Co. upgraded shares of SLM from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $29.00 to $38.00 in a report on Friday, July 11th. Finally, Barclays raised their target price on shares of SLM from $38.00 to $43.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $35.00.

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 value of $1,771,550.00. Following the completion of the sale, the executive vice president owned 119,253 shares in the company, valued at approximately $3,841,139.13. The trade was a 31.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate 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.