Russell Investments Group Ltd. Has $20.52 Million Stock Holdings in SLM Corporation $SLM

Key Points

• Russell Investments Group Ltd. increased its stake in SLM Corporation by 8.9%, owning 706,016 shares valued at approximately $20.5 million as of the latest SEC filing.
• Analysts have positively rated SLM with an average rating of "Moderate Buy", and several firms raised their price targets for the stock, reflecting increasing confidence in its performance.
• SLM's recent quarterly earnings missed analyst expectations, reporting $0.32 EPS against a consensus of $0.49, despite generating higher revenue than anticipated at $403.6 million.

Russell Investments Group Ltd. grew its position in SLM Corporation (NASDAQ:SLM - Free Report) by 8.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 706,016 shares of the credit services provider's stock after purchasing an additional 57,711 shares during the period. Russell Investments Group Ltd. owned about 0.34% of SLM worth $20,516,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of SLM. LPL Financial LLC raised its holdings in SLM by 18.5% in the fourth quarter. LPL Financial LLC now owns 12,954 shares of the credit services provider's stock worth $357,000 after purchasing an additional 2,019 shares during the period. Wells Fargo & Company MN raised its holdings in SLM by 7.7% in the fourth quarter. Wells Fargo & Company MN now owns 35,056 shares of the credit services provider's stock worth $967,000 after purchasing an additional 2,506 shares during the period. Renaissance Technologies LLC acquired a new stake in SLM in the fourth quarter worth $6,057,000. Advisory Services Network LLC bought a new stake in shares of SLM during the fourth quarter worth $261,000. Finally, Raymond James Financial Inc. bought a new stake in shares of SLM during the fourth quarter worth $20,603,000. 98.94% of the stock is currently owned by institutional investors and hedge funds.

SLM Stock Performance

SLM stock traded up $0.2060 during trading hours on Thursday, reaching $30.8660. The stock had a trading volume of 669,500 shares, compared to its average volume of 2,557,272. The stock has a market capitalization of $6.43 billion, a PE ratio of 15.50, a price-to-earnings-growth ratio of 0.85 and a beta of 1.13. 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 stock has a 50-day simple moving average of $32.36 and a 200 day simple moving average of $30.80. SLM Corporation has a fifty-two week low of $19.64 and a fifty-two week high of $34.97.

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). The firm had revenue of $403.60 million during the quarter, compared to analyst estimates of $370.26 million. SLM had a net margin of 15.46% and a return on equity of 21.93%. The business's revenue was down 21.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.11 EPS. SLM has set its FY 2025 guidance at 3.000-3.100 EPS. Analysts predict that SLM Corporation will post 3.07 EPS for the current fiscal year.

SLM Announces Dividend

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 paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Thursday, September 4th. SLM's dividend payout ratio (DPR) is currently 26.13%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SLM. Wells Fargo & Company increased their price objective 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. Barclays increased their price objective on shares of 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 research report on Monday, July 14th. JPMorgan Chase & Co. raised shares of SLM from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $29.00 to $38.00 in a research report on Friday, July 11th. Finally, Jefferies Financial Group raised their target price on shares of SLM from $33.00 to $40.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, SLM presently has an average rating of "Moderate Buy" and a consensus price target of $35.00.

Insider Activity

In other 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 transaction of $1,771,550.00. Following the completion of the sale, the executive vice president owned 119,253 shares in the company, valued at approximately $3,841,139.13. This trade represents a 31.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.30% of the company's stock.

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.