Hotchkis & Wiley Capital Management LLC Decreases Position in SLM Corporation $SLM

Key Points

• Hotchkis & Wiley Capital Management LLC reduced its stake in SLM Corporation by 31.1%, selling over 1.1 million shares, bringing its total ownership to 2.47 million shares valued at approximately $72.5 million.
• SLM recently reported earnings per share of $0.32, falling short of analysts' expectations of $0.49, with a revenue of $403.6 million for the quarter.
• SLM declared a quarterly dividend of $0.13 per share, representing a 1.6% yield based on an annualized basis, with the next payment scheduled for September 15th.

Hotchkis & Wiley Capital Management LLC reduced its stake in SLM Corporation (NASDAQ:SLM - Free Report) by 31.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,468,256 shares of the credit services provider's stock after selling 1,115,757 shares during the period. Hotchkis & Wiley Capital Management LLC owned approximately 1.18% of SLM worth $72,493,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. J.Safra Asset Management Corp bought a new stake in shares of SLM in the first quarter valued at approximately $25,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in SLM during the first quarter worth $45,000. Fifth Third Bancorp boosted its holdings in shares of SLM by 37.7% in the 1st quarter. Fifth Third Bancorp now owns 1,714 shares of the credit services provider's stock valued at $50,000 after purchasing an additional 469 shares in the last quarter. UMB Bank n.a. increased its stake in shares of SLM by 355.4% in the 1st quarter. UMB Bank n.a. now owns 1,899 shares of the credit services provider's stock valued at $56,000 after purchasing an additional 1,482 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of SLM during the 1st quarter worth $62,000. 98.94% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Kerri A. Palmer sold 55,000 shares of the firm'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 transaction, the executive vice president owned 119,253 shares of the company's stock, valued at approximately $3,841,139.13. This trade represents a 31.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is owned by company insiders.

SLM Trading Up 1.1%

NASDAQ SLM traded up $0.34 on Tuesday, reaching $31.85. The company had a trading volume of 1,959,656 shares, compared to its average volume of 1,951,299. 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 business has a 50 day moving average of $32.35 and a two-hundred day moving average of $30.86. SLM Corporation has a fifty-two week low of $19.64 and a fifty-two week high of $34.97. The firm has a market cap of $6.64 billion, a price-to-earnings ratio of 15.83, a P/E/G ratio of 0.89 and a beta of 1.13.

SLM (NASDAQ:SLM - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The credit services provider reported $0.32 earnings per share 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 business had revenue of $403.60 million for the quarter, compared to analyst estimates of $370.26 million. During the same quarter in the previous year, the business posted $1.11 earnings per share. The business's revenue was down 21.4% on a year-over-year basis. SLM has set its FY 2025 guidance at 3.000-3.100 EPS. Analysts forecast that SLM Corporation will post 3.07 EPS for the current year.

SLM Dividend Announcement

The business also recently disclosed 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 1.6%. The ex-dividend date of this dividend is Thursday, September 4th. SLM's dividend payout ratio is 26.13%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised shares of SLM from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $29.00 to $38.00 in a report on Friday, July 11th. Jefferies Financial Group increased their price target on SLM from $33.00 to $40.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada reiterated an "outperform" rating on shares of SLM in a research note on Monday, July 14th. Morgan Stanley reiterated an "overweight" rating and issued a $40.00 price target (up from $33.00) on shares of SLM in a research note on Wednesday, May 21st. Finally, Wells Fargo & Company started coverage on SLM in a research note on Monday. They issued an "overweight" rating and a $38.00 price target for the company. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, SLM currently has a consensus rating of "Moderate Buy" and a consensus target price of $35.00.

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.