River & Mercantile Asset Management LLP reduced its holdings in shares of SLM Corp (NASDAQ:SLM) by 3.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 178,310 shares of the credit services provider’s stock after selling 5,900 shares during the quarter. River & Mercantile Asset Management LLP’s holdings in SLM were worth $1,283,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Legal & General Group Plc boosted its position in SLM by 3.7% during the first quarter. Legal & General Group Plc now owns 707,208 shares of the credit services provider’s stock worth $5,085,000 after purchasing an additional 25,422 shares during the period. Massachusetts Financial Services Co. MA raised its stake in SLM by 236.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 8,364,134 shares of the credit services provider’s stock valued at $60,138,000 after purchasing an additional 5,879,203 shares in the last quarter. Portolan Capital Management LLC acquired a new position in SLM in the first quarter valued at about $3,229,000. Deutsche Bank AG raised its stake in SLM by 356.9% during the first quarter. Deutsche Bank AG now owns 972,279 shares of the credit services provider’s stock worth $6,991,000 after acquiring an additional 759,466 shares in the last quarter. Finally, Westpac Banking Corp raised its stake in SLM by 1.0% during the first quarter. Westpac Banking Corp now owns 439,531 shares of the credit services provider’s stock worth $3,160,000 after acquiring an additional 4,510 shares in the last quarter. 99.00% of the stock is owned by institutional investors.
NASDAQ:SLM traded down $0.30 during trading hours on Thursday, reaching $7.79. 188,062 shares of the company traded hands, compared to its average volume of 4,880,441. The business’s 50-day moving average price is $7.69 and its two-hundred day moving average price is $8.73. The stock has a market capitalization of $3.17 billion, a P/E ratio of 4.45 and a beta of 1.42. SLM Corp has a 1 year low of $5.60 and a 1 year high of $12.32. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 2.74.
SLM (NASDAQ:SLM) last posted its quarterly earnings data on Wednesday, April 22nd. The credit services provider reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.09). SLM had a net margin of 29.36% and a return on equity of 29.22%. The firm had revenue of $400.12 million for the quarter, compared to analysts’ expectations of $400.70 million. During the same quarter last year, the company posted $0.34 EPS. As a group, equities analysts anticipate that SLM Corp will post 1.26 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, June 5th will be given a $0.03 dividend. The ex-dividend date is Thursday, June 4th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.54%. SLM’s dividend payout ratio is currently 9.45%.
SLM has been the topic of several analyst reports. BidaskClub upgraded SLM from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. Zacks Investment Research downgraded SLM from a “strong-buy” rating to a “hold” rating and set a $8.00 price objective for the company. in a research note on Friday, April 24th. BMO Capital Markets downgraded SLM from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $12.00 to $9.00 in a research note on Thursday, May 14th. ValuEngine downgraded SLM from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 9th. Finally, Credit Suisse Group restated a “buy” rating and issued a $12.00 target price on shares of SLM in a research note on Thursday, April 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. SLM presently has an average rating of “Hold” and a consensus target price of $11.33.
SLM Corporation, through its subsidiaries, operates as a saving, planning, and paying for college company in the United States. The company originates and services private education loans to students or their families. It also offers retail deposit accounts, including certificates of deposit, money market deposit accounts, and high yield savings accounts; omnibus accounts; and a consumer savings network that provides financial rewards on everyday purchases to help families save for college.
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