SLM Corporation (NASDAQ:SLM) Shares Bought by LSV Asset Management

Key Points

• LSV Asset Management significantly increased its stake in SLM Corporation by 89.4%, now owning about 0.35% of the company, valued at around $21.8 million.
• SLM recently reported its quarterly earnings, with an earnings per share (EPS) of $0.32, missing estimates and reflecting a 21.4% decline in revenue compared to the previous year.
• The company announced a quarterly dividend of $0.13 per share, representing an annualized dividend yield of 1.7%.

LSV Asset Management raised its stake in SLM Corporation (NASDAQ:SLM - Free Report) by 89.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 743,038 shares of the credit services provider's stock after buying an additional 350,738 shares during the quarter. LSV Asset Management owned about 0.35% of SLM worth $21,823,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Capital Research Global Investors purchased a new stake in SLM during the fourth quarter worth about $144,101,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in SLM during the fourth quarter worth about $140,442,000. T. Rowe Price Investment Management Inc. purchased a new stake in SLM during the fourth quarter worth about $76,362,000. Duquesne Family Office LLC purchased a new stake in SLM during the fourth quarter worth about $69,509,000. Finally, FMR LLC increased its stake in SLM by 39.0% during the fourth quarter. FMR LLC now owns 7,529,496 shares of the credit services provider's stock worth $207,664,000 after purchasing an additional 2,111,699 shares during the period. Institutional investors and hedge funds own 98.94% of the company's stock.

SLM Stock Down 1.8%

SLM stock opened at $31.23 on Monday. The firm has a market capitalization of $6.51 billion, a price-to-earnings ratio of 15.69, a PEG ratio of 0.88 and a beta of 1.13. SLM Corporation has a fifty-two week low of $19.39 and a fifty-two week high of $34.97. The company has a debt-to-equity ratio of 3.02, a quick ratio of 1.35 and a current ratio of 1.35. The company's 50 day moving average price is $32.60 and its 200 day moving average price is $30.55.

SLM (NASDAQ:SLM - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The credit services provider reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.17). SLM had a return on equity of 21.93% and a net margin of 15.46%. 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 EPS. The firm's quarterly revenue was down 21.4% compared to the same quarter last year. On average, equities research analysts anticipate 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. Investors of record on Thursday, September 4th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Thursday, September 4th. SLM's dividend payout ratio (DPR) is 26.13%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on SLM shares. Jefferies Financial Group boosted their price target on shares of SLM from $33.00 to $40.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Morgan Stanley reiterated an "overweight" rating and set a $40.00 price target (up from $33.00) on shares of SLM in a research note on Wednesday, May 21st. JPMorgan Chase & Co. upgraded shares of SLM from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $29.00 to $38.00 in a research note on Friday, July 11th. Royal Bank Of Canada restated an "outperform" rating on shares of SLM in a research note on Monday, July 14th. Finally, Barclays upped their target price on shares of SLM from $38.00 to $43.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, SLM has a consensus rating of "Moderate Buy" and a consensus price target of $35.00.

Insider Activity at SLM

In related news, EVP Kerri A. Palmer sold 55,000 shares of the stock in a transaction on Tuesday, July 29th. The shares were 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 $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 is accessible through the SEC website. 1.30% of the stock is owned by company insiders.

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.

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