50,114 Shares in SLM Corporation $SLM Bought by Strs Ohio

Key Points

• Strs Ohio has acquired a new stake in SLM Corporation, purchasing 50,114 shares valued at approximately $1.47 million.
• Multiple institutional investors have increased their holdings in SLM, with Fifth Third Bancorp growing its stake by 37.7% to own 1,714 shares.
• SLM recently reported earnings of $0.32 per share, missing estimates by $0.17, alongside a revenue of $403.60 million, which exceeded expectations.

Strs Ohio bought a new stake in shares of SLM Corporation (NASDAQ:SLM - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 50,114 shares of the credit services provider's stock, valued at approximately $1,472,000.

Other hedge funds have also recently modified their holdings of the company. Brave Warrior Advisors LLC purchased a new stake in shares of SLM in the first quarter valued at approximately $277,704,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in SLM during the 4th quarter worth about $140,442,000. Millennium Management LLC lifted its position in shares of SLM by 378.4% in the 1st quarter. Millennium Management LLC now owns 2,633,072 shares of the credit services provider's stock worth $77,333,000 after purchasing an additional 2,082,687 shares during the period. M.D. Sass LLC bought a new position in SLM in the first quarter worth approximately $37,317,000. Finally, Wellington Management Group LLP raised its stake in SLM by 470.6% in the fourth quarter. Wellington Management Group LLP now owns 1,126,756 shares of the credit services provider's stock worth $31,076,000 after buying an additional 929,292 shares in the last quarter. 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 company's 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 completion of the transaction, the executive vice president owned 119,253 shares in the company, valued at $3,841,139.13. This represents a 31.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.30% of the stock is owned by corporate insiders.

SLM Trading Down 0.1%

NASDAQ:SLM traded down $0.02 on Friday, hitting $28.43. The stock had a trading volume of 6,982,245 shares, compared to its average volume of 2,506,428. The stock has a market cap of $5.93 billion, a price-to-earnings ratio of 14.29, a PEG ratio of 0.81 and a beta of 1.11. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 3.02. The company has a fifty day moving average price of $31.25 and a two-hundred day moving average price of $30.79. SLM Corporation has a 1-year low of $21.10 and a 1-year high of $34.97.

SLM (NASDAQ:SLM - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The credit services provider reported $0.32 earnings per share (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 company had revenue of $403.60 million during the quarter, compared to analysts' expectations of $370.26 million. During the same period last year, the firm posted $1.11 earnings per share. SLM's revenue was down 21.4% on a year-over-year basis. SLM has set its FY 2025 guidance at 3.000-3.100 EPS. Equities research analysts expect that SLM Corporation will post 3.07 earnings per share for the current fiscal year.

SLM Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Thursday, September 4th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Thursday, September 4th. SLM's dividend payout ratio (DPR) is 26.13%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SLM. Wells Fargo & Company began coverage on shares of SLM in a report on Monday, August 25th. They issued an "overweight" rating and a $38.00 price target on the stock. Royal Bank Of Canada reissued an "outperform" rating on shares of SLM in a report on Monday, July 14th. Jefferies Financial Group increased their target price 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. Barclays upped their price target on SLM from $38.00 to $43.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Finally, JPMorgan Chase & Co. upgraded SLM from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $29.00 to $38.00 in a research report on Friday, July 11th. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $35.00.

About SLM

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.