Millennium Management LLC cut its stake in SLM Corp (NASDAQ:SLM) by 49.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 864,170 shares of the credit services provider’s stock after selling 838,305 shares during the quarter. Millennium Management LLC owned approximately 0.20% of SLM worth $7,626,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan increased its position in SLM by 1.7% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 80,760 shares of the credit services provider’s stock worth $785,000 after buying an additional 1,340 shares during the period. Voya Financial Advisors Inc. boosted its position in shares of SLM by 6.7% in the third quarter. Voya Financial Advisors Inc. now owns 23,214 shares of the credit services provider’s stock valued at $209,000 after acquiring an additional 1,453 shares during the period. Brinker Capital Inc. boosted its position in shares of SLM by 10.7% in the third quarter. Brinker Capital Inc. now owns 19,511 shares of the credit services provider’s stock valued at $172,000 after acquiring an additional 1,881 shares during the period. Huntington National Bank grew its stake in shares of SLM by 85.0% in the third quarter. Huntington National Bank now owns 5,314 shares of the credit services provider’s stock valued at $47,000 after acquiring an additional 2,442 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. grew its stake in shares of SLM by 6.5% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 42,500 shares of the credit services provider’s stock valued at $375,000 after acquiring an additional 2,600 shares in the last quarter. Institutional investors own 98.24% of the company’s stock.
SLM stock opened at $8.67 on Tuesday. The stock’s fifty day moving average price is $8.65 and its two-hundred day moving average price is $8.99. SLM Corp has a one year low of $7.76 and a one year high of $11.53. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.32 and a quick ratio of 1.32. The firm has a market cap of $3.62 billion, a PE ratio of 8.10, a price-to-earnings-growth ratio of 0.53 and a beta of 1.41.
SLM (NASDAQ:SLM) last released its earnings results on Wednesday, October 23rd. The credit services provider reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. The firm had revenue of $405.07 million during the quarter, compared to the consensus estimate of $397.58 million. SLM had a return on equity of 20.63% and a net margin of 25.04%. During the same period in the prior year, the company posted $0.23 EPS. Sell-side analysts expect that SLM Corp will post 1.24 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, December 6th will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date is Thursday, December 5th. SLM’s payout ratio is currently 11.21%.
A number of research firms recently commented on SLM. ValuEngine raised shares of SLM from a “strong sell” rating to a “sell” rating in a research report on Friday, September 20th. TheStreet downgraded shares of SLM from a “b-” rating to a “c+” rating in a report on Thursday, August 29th. Finally, BidaskClub lowered shares of SLM from a “buy” rating to a “hold” rating in a research report on Thursday, November 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $12.83.
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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