Informed Momentum Co LLC Invests $4.19 Million in SLM Corporation (NASDAQ:SLM)

Key Points

• Informed Momentum Co LLC made a significant investment in SLM Corporation, acquiring 142,678 shares valued at approximately $4.19 million, representing a 0.07% ownership stake.
• Several institutional investors increased their stakes in SLM during the first quarter, with notable increases from Fifth Third Bancorp (37.7%) and UMB Bank n.a. (355.4%).
• SLM announced a quarterly dividend of $0.13 per share, yielding 1.6%, with the ex-dividend date set for September 4th.

Informed Momentum Co LLC bought a new position in shares of SLM Corporation (NASDAQ:SLM - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 142,678 shares of the credit services provider's stock, valued at approximately $4,190,000. Informed Momentum Co LLC owned approximately 0.07% of SLM as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in SLM. J.Safra Asset Management Corp acquired a new stake in SLM in the first quarter worth $25,000. Fifth Third Bancorp grew its stake in SLM by 37.7% during the first quarter. Fifth Third Bancorp now owns 1,714 shares of the credit services provider's stock valued at $50,000 after acquiring an additional 469 shares in the last quarter. UMB Bank n.a. lifted its position in SLM by 355.4% during the first 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. Headlands Technologies LLC bought a new stake in shares of SLM in the 1st quarter worth approximately $62,000. Finally, CENTRAL TRUST Co bought a new stake in SLM during the 1st quarter valued at $132,000. Institutional investors and hedge funds own 98.94% of the company's stock.

SLM Price Performance

NASDAQ:SLM traded down $2.67 during trading hours on Friday, hitting $30.32. The stock had a trading volume of 6,784,618 shares, compared to its average volume of 1,995,810. The company has a 50 day simple moving average of $32.44 and a two-hundred day simple moving average of $30.76. The company has a debt-to-equity ratio of 3.02, a current ratio of 1.35 and a quick ratio of 1.35. SLM Corporation has a one year low of $19.64 and a one year high of $34.97. The firm has a market capitalization of $6.32 billion, a price-to-earnings ratio of 15.24, a P/E/G ratio of 0.93 and a beta of 1.13.

SLM (NASDAQ:SLM - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $403.60 million for the quarter, compared to the consensus estimate of $370.26 million. During the same period last year, the company posted $1.11 earnings per share. The business's revenue was down 21.4% on a year-over-year basis. Research analysts forecast that SLM Corporation will post 3.07 earnings per share for the current fiscal year.

SLM Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 1.7%. SLM's payout ratio is 26.13%.

Insider Buying and Selling at SLM

In other SLM 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 directly 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 Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SLM. JPMorgan Chase & Co. raised shares of SLM from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $29.00 to $38.00 in a report on Friday, July 11th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of SLM in a research note on Monday, July 14th. Morgan Stanley reissued an "overweight" rating and set a $40.00 price target (up from $33.00) on shares of SLM in a research report on Wednesday, May 21st. Wells Fargo & Company raised their price target on shares of SLM from $34.00 to $38.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 14th. Finally, Barclays lifted their target price on shares of SLM from $38.00 to $43.00 and gave the company an "overweight" rating in a report on Friday, July 25th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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.