Jennison Associates LLC Has $104.92 Million Stock Position in SLM Corp (NASDAQ:SLM)

Jennison Associates LLC decreased its holdings in shares of SLM Corp (NASDAQ:SLM) by 19.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,794,114 shares of the credit services provider’s stock after selling 2,545,883 shares during the quarter. Jennison Associates LLC owned approximately 2.53% of SLM worth $104,919,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in SLM. Wells Fargo & Company MN grew its stake in SLM by 2.8% in the 1st quarter. Wells Fargo & Company MN now owns 7,117,465 shares of the credit services provider’s stock valued at $70,534,000 after buying an additional 192,534 shares during the last quarter. Bayview Asset Management LLC grew its position in SLM by 117.7% in the 2nd quarter. Bayview Asset Management LLC now owns 5,364,807 shares of the credit services provider’s stock worth $52,146,000 after purchasing an additional 2,900,911 shares during the last quarter. Geode Capital Management LLC grew its position in SLM by 7.0% in the 4th quarter. Geode Capital Management LLC now owns 4,672,277 shares of the credit services provider’s stock worth $38,826,000 after purchasing an additional 307,406 shares during the last quarter. BNP Paribas Arbitrage SA grew its position in SLM by 77.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,743,983 shares of the credit services provider’s stock worth $16,952,000 after purchasing an additional 760,959 shares during the last quarter. Finally, Hahn Capital Management LLC acquired a new stake in SLM in the 1st quarter worth $14,579,000. Institutional investors own 99.95% of the company’s stock.

Several analysts have issued reports on SLM shares. BidaskClub lowered shares of SLM from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 14th. Oppenheimer set a $12.00 price target on shares of SLM and gave the stock a “buy” rating in a research report on Friday, July 26th. ValuEngine upgraded shares of SLM from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 24th. BMO Capital Markets set a $16.00 price target on shares of SLM and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Compass Point lowered shares of SLM from a “buy” rating to a “neutral” rating in a research report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $12.83.

Shares of SLM traded down $0.11 during midday trading on Friday, hitting $8.19. 2,540,466 shares of the stock were exchanged, compared to its average volume of 3,278,431. SLM Corp has a 52-week low of $7.76 and a 52-week high of $12.09. The stock has a fifty day simple moving average of $8.99 and a 200 day simple moving average of $9.91. The firm has a market cap of $3.54 billion, a P/E ratio of 7.65, a P/E/G ratio of 0.50 and a beta of 1.41. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.37 and a current ratio of 1.37.

SLM (NASDAQ:SLM) last released its quarterly earnings results on Wednesday, July 24th. The credit services provider reported $0.31 EPS for the quarter, topping the consensus estimate of $0.30 by $0.01. SLM had a return on equity of 20.44% and a net margin of 26.18%. The business had revenue of $396.87 million during the quarter, compared to analyst estimates of $401.69 million. During the same period last year, the business posted $0.25 earnings per share. As a group, equities research analysts forecast that SLM Corp will post 1.23 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, September 6th will be given a dividend of $0.03 per share. The ex-dividend date is Thursday, September 5th. This represents a $0.12 annualized dividend and a dividend yield of 1.47%. SLM’s dividend payout ratio is currently 11.21%.

About SLM

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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Institutional Ownership by Quarter for SLM (NASDAQ:SLM)

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