XTX Topco Ltd Acquires Shares of 75,898 SLM Corporation (NASDAQ:SLM)

Key Points

• XTX Topco Ltd acquired approximately $2.23 million worth of shares in SLM Corporation, increasing its stake in the credit services provider along with significant purchases by other institutional investors.
• SLM Corporation reported a quarterly earnings miss with EPS of $0.32 against a consensus estimate of $0.49, though revenue surpassed expectations at $403.60 million.
• The company announced a quarterly dividend of $0.13 per share, representing a 1.63% dividend yield, with an ex-dividend date set for September 4th.

XTX Topco Ltd bought a new stake in SLM Corporation (NASDAQ:SLM - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 75,898 shares of the credit services provider's stock, valued at approximately $2,229,000.

A number of other institutional investors have also modified their holdings of the stock. GSA Capital Partners LLP purchased a new position in shares of SLM in the 1st quarter valued at about $657,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of SLM by 12.9% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 57,003 shares of the credit services provider's stock valued at $1,674,000 after acquiring an additional 6,514 shares during the period. Cetera Investment Advisers lifted its position in shares of SLM by 17.0% during the 1st quarter. Cetera Investment Advisers now owns 13,593 shares of the credit services provider's stock valued at $399,000 after acquiring an additional 1,971 shares during the period. Dorsey Wright & Associates purchased a new stake in shares of SLM during the 1st quarter worth approximately $1,941,000. Finally, Oak Thistle LLC purchased a new position in SLM in the 1st quarter valued at approximately $948,000. Institutional investors and hedge funds own 98.94% of the company's stock.

SLM Trading Up 1.9%

SLM stock traded up $0.59 during trading hours on Monday, reaching $31.82. 1,063,995 shares of the company's stock traded hands, compared to its average volume of 2,613,652. SLM Corporation has a fifty-two week low of $19.39 and a fifty-two week high of $34.97. The firm's 50 day moving average is $32.60 and its 200-day moving average is $30.55. 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 firm has a market capitalization of $6.63 billion, a price-to-earnings ratio of 16.00, a PEG ratio of 0.88 and a beta of 1.13.

SLM (NASDAQ:SLM - Get Free Report) last issued its 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). The company had revenue of $403.60 million for the quarter, compared to the consensus estimate of $370.26 million. SLM had a return on equity of 21.93% and a net margin of 15.46%. SLM's quarterly revenue was down 21.4% on a year-over-year basis. During the same quarter last year, the business posted $1.11 EPS. On average, analysts predict that SLM Corporation will post 3.07 earnings per share for the current 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 paid a $0.13 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $0.52 dividend on an annualized basis and a yield of 1.6%. SLM's dividend payout ratio is presently 26.13%.

Insiders Place Their Bets

In other news, EVP Kerri A. Palmer sold 55,000 shares of the business'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 transaction, the executive vice president directly owned 119,253 shares in the company, valued at $3,841,139.13. The trade was a 31.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.30% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on SLM. Jefferies Financial Group upped their target price on SLM from $33.00 to $40.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada reiterated an "outperform" rating on shares of SLM in a research report on Monday, July 14th. JPMorgan Chase & Co. upgraded shares of SLM from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $29.00 to $38.00 in a research report on Friday, July 11th. Wells Fargo & Company increased their price target on SLM from $34.00 to $38.00 and gave the company an "overweight" rating in a research note on Wednesday, May 14th. Finally, Barclays increased their target price on shares of SLM from $38.00 to $43.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, SLM currently has a consensus rating of "Moderate Buy" and an average price target of $35.00.

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.