First Trust Advisors LP Has $8.77 Million Stock Position in SLM Corp (NASDAQ:SLM)

First Trust Advisors LP lowered its stake in SLM Corp (NASDAQ:SLM) by 34.3% during the first quarter, HoldingsChannel.com reports. The firm owned 1,219,611 shares of the credit services provider’s stock after selling 637,170 shares during the period. First Trust Advisors LP’s holdings in SLM were worth $8,769,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SLM. Amundi Pioneer Asset Management Inc. raised its stake in SLM by 49.1% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 169,597 shares of the credit services provider’s stock worth $1,680,000 after buying an additional 55,858 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of SLM in the 4th quarter valued at about $25,000. Campbell & CO Investment Adviser LLC bought a new position in shares of SLM in the 4th quarter valued at about $221,000. Eqis Capital Management Inc. grew its holdings in SLM by 23.5% during the fourth quarter. Eqis Capital Management Inc. now owns 67,102 shares of the credit services provider’s stock worth $598,000 after purchasing an additional 12,770 shares during the period. Finally, HGK Asset Management Inc. grew its holdings in SLM by 40.4% during the fourth quarter. HGK Asset Management Inc. now owns 82,604 shares of the credit services provider’s stock worth $736,000 after purchasing an additional 23,772 shares during the period. 97.00% of the stock is currently owned by institutional investors.

NASDAQ SLM opened at $7.26 on Friday. The firm’s fifty day moving average price is $7.29 and its two-hundred day moving average price is $8.83. The stock has a market cap of $2.74 billion, a PE ratio of 3.99, a PEG ratio of 0.34 and a beta of 1.47. SLM Corp has a fifty-two week low of $5.60 and a fifty-two week high of $12.32. The company has a debt-to-equity ratio of 2.74, a quick ratio of 1.26 and a current ratio of 1.26.

SLM (NASDAQ:SLM) last posted its earnings results on Wednesday, April 22nd. The credit services provider reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.09). The company had revenue of $400.12 million for the quarter, compared to the consensus estimate of $400.70 million. SLM had a return on equity of 29.22% and a net margin of 29.36%. During the same period in the previous year, the firm posted $0.34 EPS. As a group, sell-side analysts predict that SLM Corp will post 1.41 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, June 5th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.65%. SLM’s payout ratio is presently 9.45%.

A number of research firms have recently weighed in on SLM. BMO Capital Markets downgraded shares of SLM from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $12.00 to $9.00 in a research report on Thursday, May 14th. ValuEngine cut shares of SLM from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 9th. TheStreet raised shares of SLM from a “c+” rating to a “b-” rating in a research note on Wednesday, February 5th. BidaskClub cut shares of SLM from a “hold” rating to a “sell” rating in a research note on Friday, March 13th. Finally, Credit Suisse Group reissued a “buy” rating and issued a $12.00 price objective on shares of SLM in a research note on Thursday, April 23rd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $11.33.

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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