SLM Co. (NASDAQ:SLM) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its holdings in shares of SLM Co. (NASDAQ:SLM) by 46.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,903 shares of the credit services provider’s stock after buying an additional 1,883 shares during the period. Allspring Global Investments Holdings LLC’s holdings in SLM were worth $129,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. grew its position in SLM by 81.4% during the fourth quarter. Blue Trust Inc. now owns 1,328 shares of the credit services provider’s stock worth $25,000 after buying an additional 596 shares during the period. Daiwa Securities Group Inc. purchased a new stake in SLM during the fourth quarter worth $29,000. Hexagon Capital Partners LLC boosted its position in SLM by 1,373.3% during the first quarter. Hexagon Capital Partners LLC now owns 1,326 shares of the credit services provider’s stock worth $29,000 after purchasing an additional 1,236 shares in the last quarter. SYSTM Wealth Solutions LLC increased its position in shares of 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 buying an additional 494 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new position in shares of SLM during the 4th quarter worth $40,000. Hedge funds and other institutional investors own 98.94% of the company’s stock.

SLM Trading Up 4.6 %

NASDAQ:SLM opened at $21.71 on Friday. The business’s 50-day moving average is $20.92 and its two-hundred day moving average is $20.47. The firm has a market capitalization of $4.77 billion, a PE ratio of 6.78, a price-to-earnings-growth ratio of 0.41 and a beta of 1.17. SLM Co. has a 12 month low of $12.26 and a 12 month high of $22.74. The company has a debt-to-equity ratio of 2.67, a current ratio of 1.23 and a quick ratio of 1.23.

SLM (NASDAQ:SLM) last released its quarterly earnings results on Wednesday, April 24th. The credit services provider reported $1.27 EPS for the quarter, topping the consensus estimate of $1.09 by $0.18. SLM had a return on equity of 45.65% and a net margin of 25.15%. The firm had revenue of $837.72 million for the quarter, compared to analyst estimates of $376.43 million. During the same period in the previous year, the company posted $0.47 EPS. Research analysts predict that SLM Co. will post 2.78 earnings per share for the current fiscal year.

SLM Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Thursday, June 6th were paid a $0.11 dividend. The ex-dividend date was Thursday, June 6th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.03%. SLM’s dividend payout ratio (DPR) is presently 13.75%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SLM. JPMorgan Chase & Co. lifted their target price on shares of SLM from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. Wedbush reaffirmed an “outperform” rating and set a $28.00 price objective on shares of SLM in a research note on Thursday, May 16th. TD Cowen raised their target price on shares of SLM from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. Royal Bank of Canada upped their price target on shares of SLM from $24.00 to $25.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Finally, Wells Fargo & Company lifted their price target on shares of SLM from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, SLM currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.50.

SLM Profile

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.