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SLM Corporation (NASDAQ:SLM) Shares Acquired by Bank of New York Mellon Corp

SLM logo with Finance background

Bank of New York Mellon Corp boosted its holdings in SLM Corporation (NASDAQ:SLM - Free Report) by 22.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,981,771 shares of the credit services provider's stock after acquiring an additional 554,931 shares during the quarter. Bank of New York Mellon Corp owned 1.42% of SLM worth $87,575,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Boston Partners lifted its holdings in shares of SLM by 3.9% during the 4th quarter. Boston Partners now owns 12,246,797 shares of the credit services provider's stock valued at $338,889,000 after buying an additional 456,415 shares during the period. FMR LLC lifted its holdings in shares of SLM by 39.0% during the 4th quarter. FMR LLC now owns 7,529,496 shares of the credit services provider's stock valued at $207,664,000 after buying an additional 2,111,699 shares during the period. Capital Research Global Investors bought a new position in shares of SLM during the 4th quarter valued at $144,101,000. American Century Companies Inc. lifted its holdings in shares of SLM by 7.0% during the 4th quarter. American Century Companies Inc. now owns 5,175,645 shares of the credit services provider's stock valued at $142,744,000 after buying an additional 338,128 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of SLM during the 4th quarter valued at $140,442,000. 98.94% of the stock is owned by institutional investors.

SLM Trading Up 0.5%

Shares of NASDAQ:SLM traded up $0.16 during trading on Monday, reaching $33.57. 1,921,057 shares of the company were exchanged, compared to its average volume of 2,309,057. The firm has a market capitalization of $7.05 billion, a PE ratio of 12.08, a P/E/G ratio of 0.92 and a beta of 1.09. The business's fifty day simple moving average is $32.71 and its 200-day simple moving average is $30.04. SLM Corporation has a 12-month low of $19.39 and a 12-month high of $34.97. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.34 and a quick ratio of 1.34.

SLM (NASDAQ:SLM - Get Free Report) last issued its earnings results on Thursday, April 24th. The credit services provider reported $1.40 EPS for the quarter, topping analysts' consensus estimates of $1.19 by $0.21. The business had revenue of $374.97 million for the quarter, compared to analyst estimates of $359.83 million. SLM had a net margin of 21.05% and a return on equity of 31.25%. The company's quarterly revenue was up 3.5% compared to the same quarter last year. During the same period last year, the company posted $1.27 earnings per share. On average, research analysts anticipate that SLM Corporation will post 3.07 EPS for the current year.

SLM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Thursday, June 5th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.55%. The ex-dividend date was Thursday, June 5th. SLM's payout ratio is 18.71%.

Insider Transactions at SLM

In other SLM news, Director Robert S. Strong sold 3,000 shares of SLM stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $31.15, for a total value of $93,450.00. Following the transaction, the director directly owned 35,195 shares of the company's stock, valued at approximately $1,096,324.25. The trade was a 7.85% 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 the SEC website. 1.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SLM shares. Royal Bank Of Canada restated an "outperform" rating on shares of SLM in a research note on Monday. Wells Fargo & Company upped their price objective on SLM from $34.00 to $38.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 14th. Barclays upped their price objective on SLM from $34.00 to $38.00 and gave the stock an "overweight" rating in a research note on Friday, May 30th. Morgan Stanley reiterated an "overweight" rating and issued a $40.00 price target (up previously from $33.00) on shares of SLM in a research note on Wednesday, May 21st. Finally, JPMorgan Chase & Co. upgraded SLM from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $29.00 to $38.00 in a research note on Friday. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $33.40.

Check Out Our Latest Stock Report on SLM

SLM Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for SLM (NASDAQ:SLM)

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