SLM Corporation (NASDAQ:SLM) Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. lowered its position in SLM Corporation (NASDAQ:SLM - Free Report) by 67.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,160 shares of the credit services provider's stock after selling 97,274 shares during the quarter. Bessemer Group Inc.'s holdings in SLM were worth $1,385,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Truist Financial Corp increased its position in shares of SLM by 11.9% in the fourth quarter. Truist Financial Corp now owns 9,052 shares of the credit services provider's stock worth $250,000 after acquiring an additional 960 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of SLM during the fourth quarter worth about $354,000. Private Trust Co. NA boosted its position in shares of SLM by 86.4% in the fourth quarter. Private Trust Co. NA now owns 971 shares of the credit services provider's stock worth $27,000 after buying an additional 450 shares during the period. Jones Financial Companies Lllp boosted its position in shares of SLM by 489.7% in the fourth quarter. Jones Financial Companies Lllp now owns 4,476 shares of the credit services provider's stock worth $123,000 after buying an additional 3,717 shares during the period. Finally, Plato Investment Management Ltd acquired a new stake in shares of SLM in the fourth quarter valued at about $114,000. Hedge funds and other institutional investors own 98.94% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on SLM shares. JPMorgan Chase & Co. reduced their price target on SLM from $30.00 to $27.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Barclays boosted their target price on shares of SLM from $34.00 to $38.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. Wells Fargo & Company raised their price target on shares of SLM from $34.00 to $38.00 and gave the company an "overweight" rating in a report on Wednesday, May 14th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $40.00 price target (up previously from $33.00) on shares of SLM in a research note on Wednesday, May 21st. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $32.30.

Insider Buying and Selling at SLM

In related news, Director Robert S. Strong sold 3,000 shares of the firm's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $31.15, for a total transaction of $93,450.00. Following the transaction, the director directly owned 35,195 shares in the company, valued at $1,096,324.25. This trade represents a 7.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.30% of the company's stock.

SLM Stock Up 1.3%

NASDAQ SLM traded up $0.44 during trading hours on Wednesday, reaching $33.80. 1,912,112 shares of the company traded hands, compared to its average volume of 2,283,066. The stock has a market capitalization of $7.09 billion, a PE ratio of 12.16, a PEG ratio of 0.91 and a beta of 1.09. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 2.86. SLM Corporation has a 12 month low of $19.39 and a 12 month high of $34.63. The company has a 50 day moving average of $32.05 and a two-hundred day moving average of $29.72.

SLM (NASDAQ:SLM - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The credit services provider reported $1.40 EPS for the quarter, topping the consensus estimate of $1.19 by $0.21. The business had revenue of $374.97 million for the quarter, compared to analysts' expectations of $359.83 million. SLM had a net margin of 21.05% and a return on equity of 31.25%. The company's quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.27 earnings per share. As a group, equities analysts expect that SLM Corporation will post 3.07 earnings per share for the current year.

SLM Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Thursday, June 5th were given a $0.13 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $0.52 annualized dividend and a dividend yield of 1.54%. SLM's payout ratio is 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.