SLM Corporation $SLM Shares Sold by Jacobs Levy Equity Management Inc.

Key Points

• Jacobs Levy Equity Management Inc. has reduced its stake in SLM Corporation by 42.1%, selling over 1 million shares in the first quarter, and now holds approximately $41.7 million worth of the company.
• SLM Corporation's earnings report showed a missed consensus estimate with earnings per share of $0.32, lower than the expected $0.49, while revenue was up against forecasts, totaling $403.6 million.
• The company announced a quarterly dividend of $0.13 per share, set to be paid on September 15th, reflecting an annualized dividend yield of 1.7%.

Jacobs Levy Equity Management Inc. decreased its position in SLM Corporation (NASDAQ:SLM - Free Report) by 42.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,421,071 shares of the credit services provider's stock after selling 1,031,448 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.68% of SLM worth $41,737,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SLM. J.Safra Asset Management Corp purchased a new stake in SLM in the first quarter worth $25,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in SLM in the 1st quarter worth about $45,000. Fifth Third Bancorp raised its position in SLM by 37.7% in the 1st quarter. Fifth Third Bancorp now owns 1,714 shares of the credit services provider's stock worth $50,000 after buying an additional 469 shares during the last quarter. UMB Bank n.a. grew its stake in shares of SLM by 355.4% during 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 period. Finally, Headlands Technologies LLC purchased a new stake in shares of SLM during the 1st quarter valued at about $62,000. Hedge funds and other institutional investors own 98.94% of the company's stock.

SLM Price Performance

Shares of SLM stock traded down $0.67 on Monday, reaching $30.44. The company's stock had a trading volume of 2,625,810 shares, compared to its average volume of 1,814,343. The company has a market capitalization of $6.35 billion, a P/E ratio of 15.30, a PEG ratio of 0.88 and a beta of 1.11. SLM Corporation has a 52-week low of $19.64 and a 52-week high of $34.97. The stock has a 50-day moving average price of $32.18 and a 200-day moving average price of $30.89. 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 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). The business had revenue of $403.60 million during the quarter, compared to analysts' expectations of $370.26 million. SLM had a net margin of 15.46% and a return on equity of 21.93%. The firm's quarterly revenue was down 21.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.11 earnings per share. SLM has set its FY 2025 guidance at 3.000-3.100 EPS. Analysts expect that SLM Corporation will post 3.07 EPS for the current year.

SLM Dividend Announcement

The firm 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 $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%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. 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 report on Wednesday, May 21st. Barclays increased 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. Royal Bank Of Canada restated an "outperform" rating on shares of SLM in a report on Monday, July 14th. JPMorgan Chase & Co. raised SLM from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $29.00 to $38.00 in a research report on Friday, July 11th. Finally, Wells Fargo & Company began coverage on SLM in a research report on Monday, August 25th. They set an "overweight" rating and a $38.00 price objective on the stock. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, SLM currently has a consensus rating of "Moderate Buy" and an average target price of $35.00.

Insider Activity at SLM

In other news, EVP Kerri A. Palmer sold 55,000 shares of the business's stock in a transaction that occurred 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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is owned by company insiders.

About SLM

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.