SLM Co. (NASDAQ:SLM) Shares Acquired by SG Americas Securities LLC

VaselineAugust 11, 2024

0 4 minutes read

SG Americas Securities LLC grew its stake in SLM Co. (NASDAQ:SLM – Free Report) by 362.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 338,534 shares of the credit services provider’s stock after acquiring an additional 265,394 shares during the period. SG Americas Securities LLC’s holdings in SLM were worth $7,038,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of SLM. SYSTM Wealth Solutions LLC boosted its holdings in SLM by 37.0% in the first quarter. SYSTM Wealth Solutions LLC now owns 1,828 shares of the credit services provider’s stock valued at $40,000 after purchasing an additional 494 shares during the period. Signaturefd LLC boosted its holdings in SLM by 7.7% in the fourth quarter. Signaturefd LLC now owns 7,891 shares of the credit services provider’s stock valued at $151,000 after purchasing an additional 565 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in SLM by 3.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,959 shares of the credit services provider’s stock valued at $478,000 after purchasing an additional 664 shares during the period. Headlands Technologies LLC boosted its holdings in SLM by 46.4% in the fourth quarter. Headlands Technologies LLC now owns 2,330 shares of the credit services provider’s stock valued at $45,000 after purchasing an additional 739 shares during the period. Finally, Neuberger Berman Group LLC boosted its holdings in SLM by 3.0% in the fourth quarter. Neuberger Berman Group LLC now owns 26,541 shares of the credit services provider’s stock valued at $507,000 after buying an additional 772 shares during the period. 98.94% of shares are owned by institutional investors and hedge funds.

The Wall Street analyst weighs in

Several research analysts recently commented on SLM shares. Deutsche Bank Aktiengesellschaft boosted their target price on shares of SLM from $25.00 to $29.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Wedbush raised their price objective on shares of SLM from $25.00 to $29.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Wells Fargo & Company lifted their price objective on shares of SLM from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. TD Cowen raised their price objective on shares of SLM from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. Finally, Keefe, Bruyette & Woods raised their target price on shares of SLM from $25.00 to $27.00 and gave the stock an “outperform” rating in a research note on Thursday, the 25th July. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Moderate Buy” and a consensus price target of $24.00, according to MarketBeat.com.

Want more great investment ideas?

Check out the latest stock analysis on SLM

Indoor activity

In other news, Director Robert S. Strong sold 4,500 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $22.70, for a total transaction of $102,150.00. Following the completion of the transaction, the director now owns 101,093 shares of the company’s stock, valued at $2,294,811.10. The sale was disclosed in a filing with the SEC, which is accessible via this hyperlink. Corporate insiders own 1.20% of the company’s shares.

SLM stock performance

SLM stock traded up $0.17 during mid-day trading on Friday, reaching $20.62. The company’s stock had a trading volume of 862,604 shares, compared to its average volume of 1,922,040. The firm has a market cap of $4.48 billion, a price-to-earnings ratio of 6.44, a PEG ratio of 0.39 and a beta of 1.17. The company has a 50-day moving average price of $21.35 and a 200-day moving average price of $20.98. The company has a current ratio of 1.26, a quick ratio of 1.26, and a debt-to-equity ratio of 2.66. SLM Co. has a 12-month low of $12.26 and a 12-month high of $23.95.

SLM (NASDAQ:SLM – Get Your Free Report ) last released its quarterly earnings data on Wednesday, July 24th. The credit services provider reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.32. SLM had a net margin of 24.67% and a return on equity of 41.84%. The firm had revenue of $783.28 million during the quarter, compared to the consensus estimate of $368.97 million. In the same quarter last year, the company posted earnings of $1.10 per share. Sell-side analysts predict that SLM Co. will post 2.83 EPS for the current fiscal year.

SLM announces dividends

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, September 5th will be issued a dividend of $0.11 per share. This represents an annualized dividend of $0.44 and a dividend yield of 2.13%. The ex-dividend date of this dividend is Thursday, September 5. SLM’s dividend payout ratio (DPR) is 13.75%.

About SLM

(Free report)

SLM Corporation, through its subsidiaries, originates and provides 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.