Handelsbanken Fonder AB Decreases Stake in SLM Corporation $SLM

Handelsbanken Fonder AB cut its position in shares of SLM Corporation (NASDAQ:SLM) by 6.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,379 shares of the credit services provider’s stock after selling 3,400 shares during the period. Handelsbanken Fonder AB’s holdings in SLM were worth $1,586,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Brave Warrior Advisors LLC bought a new position in shares of SLM during the 1st quarter valued at approximately $277,704,000. American Century Companies Inc. raised its stake in SLM by 2.9% during the first quarter. American Century Companies Inc. now owns 5,325,274 shares of the credit services provider’s stock valued at $156,403,000 after purchasing an additional 149,629 shares in the last quarter. Northern Trust Corp lifted its position in SLM by 0.6% during the first quarter. Northern Trust Corp now owns 2,654,575 shares of the credit services provider’s stock valued at $77,965,000 after purchasing an additional 15,662 shares during the last quarter. Millennium Management LLC grew its stake in shares of SLM by 378.4% in the 1st quarter. Millennium Management LLC now owns 2,633,072 shares of the credit services provider’s stock worth $77,333,000 after buying an additional 2,082,687 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of SLM by 0.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,802,829 shares of the credit services provider’s stock worth $52,949,000 after buying an additional 12,264 shares in the last quarter. Institutional investors own 98.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Wells Fargo & Company decreased their target price on shares of SLM from $38.00 to $33.00 and set an “overweight” rating on the stock in a research report on Friday, October 24th. Morgan Stanley lowered their price objective on SLM from $37.00 to $36.00 and set an “overweight” rating for the company in a research note on Friday, October 24th. Barclays cut their target price on SLM from $43.00 to $35.00 and set an “overweight” rating on the stock in a research report on Monday, October 6th. Jefferies Financial Group lowered their price target on SLM from $40.00 to $31.00 and set a “buy” rating for the company in a research report on Friday, October 17th. Finally, Wall Street Zen upgraded shares of SLM from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.63.

SLM Trading Up 0.1%

Shares of NASDAQ SLM opened at $29.05 on Thursday. The company has a debt-to-equity ratio of 3.27, a quick ratio of 1.37 and a current ratio of 1.37. The business’s 50 day moving average price is $27.28 and its 200-day moving average price is $30.40. SLM Corporation has a fifty-two week low of $23.81 and a fifty-two week high of $34.97. The company has a market cap of $5.90 billion, a price-to-earnings ratio of 10.19, a PEG ratio of 0.64 and a beta of 1.16.

SLM (NASDAQ:SLM) last posted its quarterly earnings data on Monday, February 14th. The credit services provider reported $1.15 earnings per share (EPS) for the quarter. SLM had a return on equity of 30.13% and a net margin of 21.76%.The company had revenue of ($3.44) million during the quarter. SLM has set its FY 2022 guidance at $2.800-$3.000 EPS. On average, sell-side analysts expect that SLM Corporation will post 3.07 earnings per share for the current year.

SLM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Thursday, December 4th will be issued a $0.13 dividend. The ex-dividend date is Thursday, December 4th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.8%. SLM’s dividend payout ratio is presently 18.25%.

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.