Victory Capital Management Inc. trimmed its position in SLM Corp (NASDAQ:SLM) by 20.9% in the 1st quarter, HoldingsChannel reports. The fund owned 3,555,769 shares of the credit services provider’s stock after selling 939,822 shares during the quarter. Victory Capital Management Inc.’s holdings in SLM were worth $35,238,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently added to or reduced their stakes in SLM. Jane Street Group LLC purchased a new position in shares of SLM in the third quarter valued at $146,000. Man Group plc bought a new stake in SLM in the third quarter worth $330,000. Gateway Investment Advisers LLC lifted its position in SLM by 56.7% in the fourth quarter. Gateway Investment Advisers LLC now owns 147,549 shares of the credit services provider’s stock worth $1,226,000 after buying an additional 53,414 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in SLM in the fourth quarter worth $192,000. Finally, Virtu Financial LLC lifted its position in SLM by 22.1% in the fourth quarter. Virtu Financial LLC now owns 12,450 shares of the credit services provider’s stock worth $103,000 after buying an additional 2,257 shares during the last quarter.
In other SLM news, EVP Paul F. Thome sold 25,000 shares of SLM stock in a transaction dated Wednesday, February 27th. The stock was sold at an average price of $11.10, for a total value of $277,500.00. Following the transaction, the executive vice president now owns 208,049 shares in the company, valued at $2,309,343.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jonathan Boyles sold 68,000 shares of SLM stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $11.20, for a total value of $761,600.00. Following the completion of the transaction, the senior vice president now owns 67,679 shares in the company, valued at approximately $758,004.80. The disclosure for this sale can be found here. Insiders sold 93,805 shares of company stock valued at $1,047,625 over the last 90 days. 0.45% of the stock is currently owned by corporate insiders.
Shares of SLM stock traded up $0.12 on Friday, hitting $10.14. The stock had a trading volume of 27,192 shares, compared to its average volume of 3,103,804. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.38 and a quick ratio of 1.38. The company has a market capitalization of $4.33 billion, a P/E ratio of 9.46, a PEG ratio of 0.44 and a beta of 1.47. SLM Corp has a one year low of $7.95 and a one year high of $12.16.
SLM (NASDAQ:SLM) last released its quarterly earnings data on Wednesday, April 17th. The credit services provider reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.04. The firm had revenue of $402.28 million during the quarter, compared to the consensus estimate of $384.70 million. SLM had a return on equity of 20.28% and a net margin of 25.77%. The firm’s quarterly revenue was up 20.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.28 earnings per share. On average, analysts anticipate that SLM Corp will post 1.26 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, June 7th will be issued a $0.03 dividend. The ex-dividend date is Thursday, June 6th. This represents a $0.12 annualized dividend and a dividend yield of 1.18%. SLM’s payout ratio is currently 11.21%.
SLM has been the subject of several research analyst reports. TheStreet upgraded SLM from a “c+” rating to a “b-” rating in a research report on Monday, January 28th. Wedbush set a $13.00 target price on SLM and gave the stock a “buy” rating in a research report on Monday, April 22nd. Oppenheimer set a $14.00 target price on SLM and gave the stock a “buy” rating in a research report on Sunday, April 21st. Zacks Investment Research downgraded SLM from a “buy” rating to a “hold” rating in a report on Tuesday, April 9th. Finally, ValuEngine upgraded SLM from a “sell” rating to a “hold” rating in a report on Wednesday, February 13th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $13.00.
COPYRIGHT VIOLATION NOTICE: This report was published by Macon Daily and is the sole property of of Macon Daily. If you are viewing this report on another website, it was copied illegally and reposted in violation of US and international trademark & copyright legislation. The original version of this report can be viewed at https://macondaily.com/2019/05/17/victory-capital-management-inc-has-35-24-million-position-in-slm-corp-slm.html.
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.
Read More: What are gap-down stocks?
Want to see what other hedge funds are holding SLM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SLM Corp (NASDAQ:SLM).
Receive News & Ratings for SLM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SLM and related companies with MarketBeat.com's FREE daily email newsletter.