Nuveen LLC Makes New Investment in SLM Corporation $SLM

Key Points

• Nuveen LLC has acquired a new stake in SLM Corporation, purchasing 529,251 shares valued at approximately $15.54 million, representing 0.25% of the company's total shares.
• SLM Corporation reported quarterly earnings of $0.32 per share, missing analysts' expectations, while revenues of $403.60 million surpassed estimates, despite a year-over-year decline of 21.4%.
• SLM has announced a quarterly dividend of $0.13 per share, which will be paid on September 15th, representing an annualized yield of 1.7%.

Nuveen LLC purchased a new position in SLM Corporation (NASDAQ:SLM - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 529,251 shares of the credit services provider's stock, valued at approximately $15,544,000. Nuveen LLC owned 0.25% of SLM at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in SLM. Watchtower Advisors LP acquired a new stake in SLM in the 1st quarter worth approximately $4,337,000. Swiss National Bank lifted its stake in SLM by 1.5% in the first quarter. Swiss National Bank now owns 390,788 shares of the credit services provider's stock worth $11,477,000 after acquiring an additional 5,900 shares during the last quarter. Headlands Technologies LLC purchased a new position in SLM in the first quarter valued at approximately $62,000. Deutsche Bank AG grew its position in SLM by 11.1% in the 1st quarter. Deutsche Bank AG now owns 24,238 shares of the credit services provider's stock valued at $712,000 after buying an additional 2,420 shares during the last quarter. Finally, M.D. Sass LLC acquired a new stake in SLM in the first quarter valued at $37,317,000. Institutional investors own 98.94% of the company's stock.

Insider Buying and Selling

In related news, EVP Kerri A. Palmer sold 55,000 shares of the company's stock in a transaction that occurred 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 directly owned 119,253 shares of the company's stock, valued at $3,841,139.13. This represents a 31.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SLM. Jefferies Financial Group increased their target price on shares of SLM from $33.00 to $40.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada reissued 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 report on Wednesday, May 21st. Wells Fargo & Company started coverage on SLM in a report on Monday. They issued an "overweight" rating and a $38.00 price objective for the company. Finally, Barclays increased their price target on SLM from $38.00 to $43.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, SLM presently has a consensus rating of "Moderate Buy" and a consensus target price of $35.00.

SLM Price Performance

NASDAQ SLM traded up $0.14 during trading hours on Tuesday, reaching $31.65. 87,820 shares of the stock traded hands, compared to its average volume of 2,533,827. 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 company has a market cap of $6.60 billion, a price-to-earnings ratio of 15.89, a price-to-earnings-growth ratio of 0.89 and a beta of 1.13. SLM Corporation has a 1 year low of $19.64 and a 1 year high of $34.97. The stock has a 50 day simple moving average of $32.35 and a two-hundred day simple moving average of $30.86.

SLM (NASDAQ:SLM - Get Free Report) last announced its 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 net margin of 15.46% and a return on equity of 21.93%. The company had revenue of $403.60 million for the quarter, compared to analysts' expectations of $370.26 million. During the same quarter in the prior year, the firm posted $1.11 earnings per share. SLM'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 predict that SLM Corporation will post 3.07 EPS for the current fiscal year.

SLM Dividend Announcement

The business also recently announced 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 annualized dividend and a dividend yield of 1.6%. SLM's dividend payout ratio (DPR) is 26.13%.

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.