SLM (NASDAQ:SLM) Given New $31.00 Price Target at Jefferies Financial Group

Key Points

• Jefferies Financial Group has lowered its price target for SLM from $40.00 to $31.00, suggesting a potential upside of 20.84% from the company's previous close.
• SLM's stock currently holds a consensus rating of "Moderate Buy" from analysts, with seven ratings for Buy and three for Hold.
• Insider activity includes EVP Kerri A. Palmer selling 55,000 shares, which decreased her ownership by 31.56% and was valued at approximately $1.77 million.

SLM (NASDAQ:SLM - Get Free Report) had its target price reduced by equities researchers at Jefferies Financial Group from $40.00 to $31.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the credit services provider's stock. Jefferies Financial Group's target price suggests a potential upside of 20.84% from the company's previous close.

Several other brokerages also recently issued reports on SLM. Wells Fargo & Company started coverage on 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. Weiss Ratings reaffirmed a "hold (c)" rating on shares of SLM in a research note on Wednesday, October 8th. Wall Street Zen downgraded SLM from a "hold" rating to a "sell" rating in a research note on Saturday, October 11th. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $29.00 target price (down previously from $38.00) on shares of SLM in a research note on Tuesday, October 7th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, SLM currently has a consensus rating of "Moderate Buy" and a consensus price target of $32.89.

SLM Stock Performance

Shares of SLM traded up $0.46 during mid-day trading on Friday, hitting $25.65. The stock had a trading volume of 1,142,845 shares, compared to its average volume of 2,628,008. The company has a market cap of $5.35 billion, a PE ratio of 12.89, a PEG ratio of 0.75 and a beta of 1.11. The company's fifty day simple moving average is $29.25 and its two-hundred day simple moving average is $30.49. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 3.02. SLM has a fifty-two week low of $21.10 and a fifty-two week high of $34.97.

SLM (NASDAQ:SLM - Get Free Report) last issued its earnings results on Monday, February 14th. The credit services provider reported $1.15 EPS for the quarter. The company had revenue of ($3.44) million during the quarter. SLM had a return on equity of 21.93% and a net margin of 15.46%. SLM has set its FY 2022 guidance at $2.800-$3.000 EPS. On average, equities analysts expect that SLM will post 3.07 earnings per share for the current year.

Insider Activity

In other news, EVP Kerri A. Palmer sold 55,000 shares of SLM stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $32.21, for a total transaction of $1,771,550.00. Following the transaction, the executive vice president owned 119,253 shares in the company, valued at approximately $3,841,139.13. The trade was a 31.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in SLM in the first quarter valued at about $607,000. Oppenheimer & Co. Inc. purchased a new position in SLM in the first quarter valued at about $216,000. Informed Momentum Co LLC purchased a new position in SLM in the first quarter valued at about $4,190,000. Envestnet Asset Management Inc. grew its stake in SLM by 24.2% in the first quarter. Envestnet Asset Management Inc. now owns 207,129 shares of the credit services provider's stock valued at $6,083,000 after purchasing an additional 40,378 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in SLM by 19.2% in the first quarter. GAMMA Investing LLC now owns 8,034 shares of the credit services provider's stock valued at $236,000 after purchasing an additional 1,294 shares in the last quarter. Hedge funds and other institutional investors own 98.94% of the company's stock.

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.

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