Allspring Global Investments Holdings LLC Buys 38,269 Shares of SLM Co. (NASDAQ:SLM)

Allspring Global Investments Holdings LLC increased its position in SLM Co. (NASDAQ:SLM) by 294.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,248 shares of the credit services provider’s stock after buying an additional 38,269 shares during the period. Allspring Global Investments Holdings LLC’s holdings in SLM were worth $1,172,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SLM. Blue Trust Inc. boosted its stake in shares of SLM by 358.7% in the 3rd quarter. Blue Trust Inc. now owns 1,399 shares of the credit services provider’s stock worth $32,000 after buying an additional 1,094 shares during the last quarter. International Assets Investment Management LLC purchased a new position in SLM in the second quarter worth $60,000. Covestor Ltd grew its stake in SLM by 378.1% in the 1st quarter. Covestor Ltd now owns 3,050 shares of the credit services provider’s stock valued at $66,000 after purchasing an additional 2,412 shares during the period. GAMMA Investing LLC increased its position in shares of SLM by 13.3% during the 3rd quarter. GAMMA Investing LLC now owns 5,077 shares of the credit services provider’s stock valued at $116,000 after purchasing an additional 594 shares during the last quarter. Finally, Headlands Technologies LLC raised its stake in shares of SLM by 257.5% during the 1st quarter. Headlands Technologies LLC now owns 8,329 shares of the credit services provider’s stock worth $181,000 after purchasing an additional 5,999 shares during the period. 98.94% of the stock is owned by institutional investors.

SLM Stock Down 2.3 %

SLM opened at $22.03 on Friday. The company has a fifty day moving average of $22.02 and a two-hundred day moving average of $21.53. The company has a debt-to-equity ratio of 3.21, a quick ratio of 1.27 and a current ratio of 1.29. SLM Co. has a fifty-two week low of $12.90 and a fifty-two week high of $23.95. The stock has a market capitalization of $4.84 billion, a price-to-earnings ratio of 6.88, a PEG ratio of 0.59 and a beta of 1.15.

SLM (NASDAQ:SLM) last released its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.30). SLM had a return on equity of 35.92% and a net margin of 22.18%. The business had revenue of $652.64 million during the quarter, compared to analyst estimates of $363.40 million. During the same period in the previous year, the company posted $0.11 EPS. On average, research analysts expect that SLM Co. will post 2.75 earnings per share for the current year.

SLM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, December 5th will be paid a $0.13 dividend. The ex-dividend date is Thursday, December 5th. This represents a $0.52 dividend on an annualized basis and a yield of 2.36%. This is a boost from SLM’s previous quarterly dividend of $0.11. SLM’s dividend payout ratio (DPR) is currently 16.25%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on SLM shares. Wedbush reaffirmed an “outperform” rating and issued a $26.00 price target on shares of SLM in a report on Thursday, October 24th. Bank of America assumed coverage on shares of SLM in a research note on Wednesday, September 25th. They issued a “buy” rating and a $27.00 target price on the stock. Deutsche Bank Aktiengesellschaft raised their target price on SLM from $25.00 to $29.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Wells Fargo & Company lifted their price target on SLM from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Finally, JPMorgan Chase & Co. cut their price objective on shares of SLM from $25.00 to $24.00 and set a “neutral” rating for the company in a research report on Monday, October 7th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $25.45.

SLM Company Profile

SLM Corporation, through its subsidiaries, originates and services private education loans to students and their families to finance the cost of their education in the United States. It is also involved in the provision of retail deposit accounts, including certificates of deposit, money market accounts, and high-yield savings accounts; and interest-bearing omnibus accounts.