NJ State Employees Deferred Compensation Plan lessened its position in shares of SLM Corp (NASDAQ:SLM) by 25.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,000 shares of the credit services provider’s stock after selling 10,000 shares during the quarter. NJ State Employees Deferred Compensation Plan’s holdings in SLM were worth $292,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Huntington National Bank lifted its position in shares of SLM by 69.2% during the 1st quarter. Huntington National Bank now owns 2,890 shares of the credit services provider’s stock worth $29,000 after buying an additional 1,182 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of SLM during the 2nd quarter worth approximately $49,000. Twin Tree Management LP bought a new position in shares of SLM during the 1st quarter worth approximately $52,000. Cleararc Capital Inc. bought a new position in SLM in the 1st quarter valued at $111,000. Finally, Pearl River Capital LLC raised its position in SLM by 137.0% in the 1st quarter. Pearl River Capital LLC now owns 13,746 shares of the credit services provider’s stock valued at $136,000 after purchasing an additional 7,947 shares during the last quarter.
Several equities analysts have issued reports on the company. Oppenheimer set a $12.00 price objective on SLM and gave the company a “buy” rating in a research report on Friday, July 26th. Wedbush set a $13.00 price objective on SLM and gave the company a “buy” rating in a research report on Monday, April 22nd. Compass Point downgraded SLM from a “buy” rating to a “neutral” rating in a research report on Friday, July 26th. ValuEngine upgraded SLM from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 24th. Finally, Zacks Investment Research downgraded SLM from a “buy” rating to a “hold” rating in a research report on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $12.83.
Shares of SLM stock traded down $0.43 on Monday, reaching $8.42. 53,278 shares of the stock were exchanged, compared to its average volume of 3,712,769. The company has a market capitalization of $3.78 billion, a PE ratio of 8.02, a PEG ratio of 0.53 and a beta of 1.41. SLM Corp has a one year low of $7.95 and a one year high of $12.09. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 1.80. The firm’s 50 day moving average price is $9.47.
SLM (NASDAQ:SLM) last released its earnings results on Wednesday, July 24th. The credit services provider reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. The company had revenue of $396.87 million during the quarter, compared to the consensus estimate of $401.69 million. SLM had a return on equity of 20.44% and a net margin of 26.18%. During the same quarter in the previous year, the company posted $0.25 earnings per share. As a group, analysts anticipate that SLM Corp will post 1.23 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, September 6th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.43%. SLM’s payout ratio is currently 11.21%.
SLM Company Profile
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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