Nuveen LLC Takes $15.54 Million Position 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 stake in 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 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.

A number of other large investors have also added to or reduced their stakes in SLM. J.Safra Asset Management Corp bought a new stake in SLM in the 1st quarter valued at $25,000. Fifth Third Bancorp increased its position in SLM by 37.7% during 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 period. UMB Bank n.a. increased its position in SLM by 355.4% during the 1st quarter. UMB Bank n.a. now owns 1,899 shares of the credit services provider's stock worth $56,000 after buying an additional 1,482 shares during the period. Headlands Technologies LLC bought a new position in SLM during the 1st quarter worth $62,000. Finally, CENTRAL TRUST Co bought a new position in SLM during the 1st quarter worth $132,000. Institutional investors own 98.94% of the company's stock.

Insider Transactions at SLM

In other SLM 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 transaction, the executive vice president directly owned 119,253 shares of the company's stock, valued at approximately $3,841,139.13. The trade was a 31.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.30% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Wells Fargo & Company assumed coverage on SLM in a research report on Monday. They set an "overweight" rating and a $38.00 price objective on the stock. Jefferies Financial Group increased their price objective on SLM from $33.00 to $40.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Barclays increased their price objective on SLM from $38.00 to $43.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Royal Bank Of Canada reissued an "outperform" rating on shares of SLM in a report on Monday, July 14th. Finally, Morgan Stanley reissued an "overweight" rating and set a $40.00 target price (up from $33.00) on shares of SLM in a report on Wednesday, May 21st. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $35.00.

SLM Price Performance

SLM stock traded up $0.34 during midday trading on Tuesday, reaching $31.85. The company's stock had a trading volume of 1,959,656 shares, compared to its average volume of 1,951,299. SLM Corporation has a 52 week low of $19.64 and a 52 week high of $34.97. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 3.02. The business has a 50-day moving average price of $32.36 and a 200-day moving average price of $30.87. The stock has a market cap of $6.64 billion, a PE ratio of 16.01, a price-to-earnings-growth ratio of 0.89 and a beta of 1.13.

SLM (NASDAQ:SLM - Get Free Report) last announced its quarterly earnings results 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). 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 analyst estimates of $370.26 million. During the same period in the previous year, the business posted $1.11 earnings per share. The business's revenue for the quarter was down 21.4% compared to the same quarter last year. SLM has set its FY 2025 guidance at 3.000-3.100 EPS. On average, sell-side analysts predict that SLM Corporation will post 3.07 EPS for the current year.

SLM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Thursday, September 4th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Thursday, September 4th. SLM's payout ratio is presently 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.