SLM Corporation $SLM Shares Sold by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in SLM Corporation by 5.4% in Q1, owning approximately 1.64 million shares valued at $48.3 million after selling 93,476 shares.
• JPMorgan Chase & Co. and Wells Fargo & Company both raised their price targets for SLM shares to $38.00, giving the company an "overweight" rating.
• SLM missed analysts' earnings expectations for the latest quarter, reporting $0.32 earnings per share compared to the expected $0.49, alongside a revenue of $403.6 million.

Charles Schwab Investment Management Inc. lowered its position in shares of SLM Corporation (NASDAQ:SLM - Free Report) by 5.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,644,759 shares of the credit services provider's stock after selling 93,476 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.78% of SLM worth $48,307,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of SLM. LPL Financial LLC boosted its position in SLM by 18.5% during the fourth quarter. LPL Financial LLC now owns 12,954 shares of the credit services provider's stock worth $357,000 after acquiring an additional 2,019 shares during the last quarter. Wells Fargo & Company MN boosted its position in SLM by 7.7% during the fourth quarter. Wells Fargo & Company MN now owns 35,056 shares of the credit services provider's stock worth $967,000 after acquiring an additional 2,506 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in SLM during the fourth quarter worth approximately $6,057,000. Advisory Services Network LLC acquired a new stake in SLM during the fourth quarter worth approximately $261,000. Finally, Raymond James Financial Inc. acquired a new stake in SLM during the fourth quarter worth approximately $20,603,000. Institutional investors and hedge funds own 98.94% of the company's stock.

Insider Transactions at SLM

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on SLM. Morgan Stanley restated an "overweight" rating and set a $40.00 target price (up previously from $33.00) on shares of SLM in a research report on Wednesday, May 21st. JPMorgan Chase & Co. raised shares of SLM from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $29.00 to $38.00 in a research note on Friday, July 11th. Wells Fargo & Company increased their price target on shares of SLM from $34.00 to $38.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 14th. Jefferies Financial Group increased their price target on shares of SLM from $33.00 to $40.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Finally, Barclays increased their price target on shares of SLM from $38.00 to $43.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $35.00.

SLM Trading Up 0.4%

Shares of SLM stock traded up $0.1070 during mid-day trading on Wednesday, reaching $30.3570. The company's stock had a trading volume of 393,905 shares, compared to its average volume of 2,562,818. The company's 50 day simple moving average is $32.38 and its 200-day simple moving average is $30.80. The firm has a market capitalization of $6.33 billion, a PE ratio of 15.25, a price-to-earnings-growth ratio of 0.86 and a beta of 1.13. SLM Corporation has a 12-month low of $19.64 and a 12-month high of $34.97. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 3.02.

SLM (NASDAQ:SLM - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The credit services provider reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $370.26 million. During the same period last year, the firm earned $1.11 EPS. The business'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, research analysts predict that SLM Corporation will post 3.07 EPS for the current fiscal year.

SLM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Thursday, September 4th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $0.52 annualized dividend and a yield of 1.7%. SLM's payout ratio is 26.13%.

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.