Schaper Benz & Wise Investment Counsel Inc. WI Lowers Holdings in SLM Corporation $SLM

Key Points

• Schaper Benz & Wise Investment Counsel Inc. reduced its stake in SLM Corporation by 5.5%, decreasing its holdings to approximately 286,879 shares valued at $9.4 million.
• Hedge funds and institutional investors own 98.94% of SLM's stock, indicating strong institutional support for the company.
• SLM Corporation declared a quarterly dividend of $0.13 per share, with a dividend yield of 1.9%, to be paid on December 15th.

Schaper Benz & Wise Investment Counsel Inc. WI decreased its stake in SLM Corporation (NASDAQ:SLM - Free Report) by 5.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 286,879 shares of the credit services provider's stock after selling 16,545 shares during the quarter. Schaper Benz & Wise Investment Counsel Inc. WI owned approximately 0.14% of SLM worth $9,407,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. J.Safra Asset Management Corp purchased a new stake in shares of SLM in the first quarter worth about $25,000. City Holding Co. purchased a new stake in shares of SLM in the second quarter worth about $25,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of SLM in the first quarter worth about $45,000. Headlands Technologies LLC purchased a new stake in shares of SLM in the first quarter worth about $62,000. Finally, Anchor Investment Management LLC acquired a new position in SLM in the 1st quarter worth about $94,000. Hedge funds and other institutional investors own 98.94% of the company's stock.

Insider Activity at SLM

In related news, EVP Kerri A. Palmer sold 55,000 shares of the 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 owned 119,253 shares of the company's stock, valued at approximately $3,841,139.13. This trade represents a 31.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.30% of the company's stock.

SLM Price Performance

Shares of SLM stock opened at $27.00 on Thursday. The business has a 50 day simple moving average of $28.77 and a two-hundred day simple moving average of $30.44. SLM Corporation has a 12 month low of $21.10 and a 12 month high of $34.97. The stock has a market capitalization of $5.63 billion, a P/E ratio of 13.57, a PEG ratio of 0.76 and a beta of 1.11. 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 (NASDAQ:SLM - Get Free Report) last announced its earnings results on Monday, February 14th. The credit services provider reported $1.15 EPS for the quarter. SLM had a return on equity of 21.93% and a net margin of 15.46%.The business had revenue of ($3.44) million during the quarter. SLM has set its FY 2022 guidance at $2.800-$3.000 EPS. As a group, analysts predict that SLM Corporation will post 3.07 EPS for the current fiscal year.

SLM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Thursday, December 4th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Thursday, December 4th. SLM's dividend payout ratio (DPR) is currently 26.13%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $29.00 price target (down previously from $38.00) on shares of SLM in a report on Tuesday, October 7th. Morgan Stanley reduced their price target on SLM to $40.00 and set an "overweight" rating for the company in a report on Monday, September 29th. Jefferies Financial Group reduced their price target on SLM from $40.00 to $31.00 and set a "buy" rating for the company in a report on Friday, October 17th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of SLM in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating on shares of SLM in a report on Monday, July 14th. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $32.89.

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.

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