World Asset Management Inc Decreases Stock Holdings in SLM Corp (NASDAQ:SLM)

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World Asset Management Inc reduced its position in shares of SLM Corp (NASDAQ:SLM) by 10.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,264 shares of the credit services provider’s stock after selling 1,800 shares during the period. World Asset Management Inc’s holdings in SLM were worth $107,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Strs Ohio lifted its position in shares of SLM by 39.4% during the 2nd quarter. Strs Ohio now owns 113,223 shares of the credit services provider’s stock worth $795,000 after purchasing an additional 31,994 shares during the last quarter. Cerebellum GP LLC purchased a new stake in shares of SLM during the 2nd quarter worth $127,000. Assenagon Asset Management S.A. purchased a new stake in shares of SLM during the 2nd quarter worth $3,002,000. SG Americas Securities LLC lifted its position in SLM by 735.9% in the second quarter. SG Americas Securities LLC now owns 104,041 shares of the credit services provider’s stock valued at $731,000 after acquiring an additional 91,595 shares during the last quarter. Finally, MERIAN GLOBAL INVESTORS UK Ltd purchased a new stake in SLM in the second quarter valued at $7,634,000. 99.68% of the stock is owned by institutional investors and hedge funds.

NASDAQ SLM opened at $6.77 on Friday. The company has a debt-to-equity ratio of 2.75, a quick ratio of 1.19 and a current ratio of 1.19. The firm has a market cap of $2.54 billion, a PE ratio of 5.42 and a beta of 1.41. SLM Corp has a one year low of $5.60 and a one year high of $12.32. The firm’s fifty day moving average is $7.13 and its two-hundred day moving average is $8.32.

SLM (NASDAQ:SLM) last posted its quarterly earnings data on Wednesday, July 22nd. The credit services provider reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.28). SLM had a net margin of 21.15% and a return on equity of 23.16%. The business had revenue of $348.78 million during the quarter, compared to analyst estimates of $351.93 million. Research analysts predict that SLM Corp will post 1.11 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, September 4th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.77%. SLM’s dividend payout ratio (DPR) is 9.45%.

A number of brokerages recently weighed in on SLM. BMO Capital Markets cut shares of SLM from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $12.00 to $9.00 in a research report on Thursday, May 14th. Zacks Investment Research cut shares of SLM from a “strong-buy” rating to a “hold” rating and set a $8.00 price target for the company. in a research report on Friday, April 24th. BidaskClub cut shares of SLM from a “sell” rating to a “strong sell” rating in a research report on Friday, July 10th. ValuEngine cut shares of SLM from a “sell” rating to a “strong sell” rating in a research report on Thursday, April 9th. Finally, JPMorgan Chase & Co. cut shares of SLM from an “overweight” rating to a “neutral” rating and set a $7.50 price target for the company. in a research report on Wednesday, July 15th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $10.58.

SLM 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.

Further Reading: What is meant by a buy rating?

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).

Institutional Ownership by Quarter for SLM (NASDAQ:SLM)

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