Arizona State Retirement System lifted its position in SLM Corp (NASDAQ:SLM) by 2.3% in the third quarter, HoldingsChannel reports. The firm owned 309,142 shares of the credit services provider’s stock after acquiring an additional 6,978 shares during the period. Arizona State Retirement System’s holdings in SLM were worth $3,447,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. raised its stake in SLM by 3.0% during the first quarter. Principal Financial Group Inc. now owns 1,891,716 shares of the credit services provider’s stock worth $21,206,000 after acquiring an additional 55,014 shares in the last quarter. Suntrust Banks Inc. acquired a new position in SLM during the first quarter worth $275,000. State of Alaska Department of Revenue raised its stake in SLM by 39.9% during the second quarter. State of Alaska Department of Revenue now owns 47,380 shares of the credit services provider’s stock worth $542,000 after acquiring an additional 13,520 shares in the last quarter. Gateway Investment Advisers LLC acquired a new position in SLM during the second quarter worth $1,078,000. Finally, Bank of Montreal Can acquired a new position in SLM during the second quarter worth $8,561,000.
Shares of SLM stock opened at $10.49 on Friday. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 1.86. The firm has a market cap of $4.43 billion, a PE ratio of 14.77, a price-to-earnings-growth ratio of 0.51 and a beta of 1.21. SLM Corp has a 52 week low of $9.65 and a 52 week high of $12.46.
SLM (NASDAQ:SLM) last announced its earnings results on Monday, October 22nd. The credit services provider reported $0.23 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.01). The business had revenue of $356.63 million for the quarter, compared to the consensus estimate of $350.10 million. SLM had a return on equity of 18.84% and a net margin of 22.81%. During the same quarter in the previous year, the company posted $0.17 EPS. As a group, equities analysts predict that SLM Corp will post 1.02 EPS for the current year.
Several research analysts have issued reports on the company. ValuEngine lowered SLM from a “hold” rating to a “sell” rating in a research note on Wednesday, July 25th. Oppenheimer set a $16.00 price objective on SLM and gave the stock a “buy” rating in a research note on Wednesday, July 25th. BidaskClub lowered SLM from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 9th. Finally, Zacks Investment Research lowered SLM from a “buy” rating to a “hold” rating in a research note on Monday, July 16th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $14.57.
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SLM Corporation, together with 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 and their families. Its loan portfolio also includes federal family education loan program, personal, and other loans.
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