Caxton Associates LLP Takes $2.37 Million Position in SLM Corporation $SLM

Key Points

• Caxton Associates LLP acquired a new stake in SLM Corporation, purchasing 80,620 shares valued at approximately $2.37 million.
• SLM Corporation reported a quarterly EPS of $0.32, missing estimates and showing a 21.4% decline in revenue compared to the same quarter last year.
• The company announced a quarterly dividend of $0.13 per share, with a dividend yield of 1.7%, set to be paid on September 15th.

Caxton Associates LLP purchased a new position in SLM Corporation (NASDAQ:SLM - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 80,620 shares of the credit services provider's stock, valued at approximately $2,368,000.

Several other hedge funds have also made changes to their positions in the stock. Brave Warrior Advisors LLC bought a new stake in shares of SLM in the 1st quarter worth approximately $277,704,000. American Century Companies Inc. lifted its holdings in shares of SLM by 2.9% in the 1st quarter. American Century Companies Inc. now owns 5,325,274 shares of the credit services provider's stock worth $156,403,000 after purchasing an additional 149,629 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of SLM in the 4th quarter worth approximately $140,442,000. Bank of New York Mellon Corp raised its stake in SLM by 22.9% during the 1st quarter. Bank of New York Mellon Corp now owns 2,981,771 shares of the credit services provider's stock valued at $87,575,000 after acquiring an additional 554,931 shares in the last quarter. Finally, Northern Trust Corp boosted its position in SLM by 0.6% during the 1st quarter. Northern Trust Corp now owns 2,654,575 shares of the credit services provider's stock worth $77,965,000 after acquiring an additional 15,662 shares during the period. Institutional investors own 98.94% of the company's stock.

SLM Price Performance

Shares of SLM traded down $0.90 during midday trading on Friday, reaching $28.13. The stock had a trading volume of 4,094,873 shares, compared to its average volume of 2,093,888. SLM Corporation has a 52 week low of $21.05 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 firm's 50 day moving average price is $31.80 and its 200-day moving average price is $30.85. The company has a market capitalization of $5.86 billion, a P/E ratio of 14.14, a P/E/G ratio of 0.80 and a beta of 1.11.

SLM (NASDAQ:SLM - Get Free Report) last posted its quarterly earnings data 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). SLM had a return on equity of 21.93% and a net margin of 15.46%.The firm had revenue of $403.60 million during the quarter, compared to the consensus estimate of $370.26 million. During the same period in the prior year, the firm posted $1.11 EPS. The firm's quarterly revenue was down 21.4% on a year-over-year basis. SLM has set its FY 2025 guidance at 3.000-3.100 EPS. On average, analysts forecast that SLM Corporation will post 3.07 earnings per share for the current fiscal year.

SLM Announces Dividend

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 issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Thursday, September 4th. SLM's payout ratio is presently 26.13%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Morgan Stanley reissued an "overweight" rating and set a $40.00 price target (up from $33.00) on shares of SLM in a report on Wednesday, May 21st. Royal Bank Of Canada reissued an "outperform" rating on shares of SLM in a report on Monday, July 14th. Jefferies Financial Group raised their price target on SLM from $33.00 to $40.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Barclays raised their price target on SLM from $38.00 to $43.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Finally, JPMorgan Chase & Co. raised SLM from a "neutral" rating to an "overweight" rating and raised their price target for the company from $29.00 to $38.00 in a report on Friday, July 11th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $35.00.

Insider Activity

In related news, EVP Kerri A. Palmer sold 55,000 shares of SLM stock in a transaction 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 transaction, the executive vice president directly owned 119,253 shares in the company, valued at $3,841,139.13. The trade was a 31.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.30% of the stock is owned by insiders.

SLM 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.