BlackRock Inc. Sells 202,620 Shares of SLM Corp (SLM)
BlackRock Inc. lessened its holdings in SLM Corp (NASDAQ:SLM) by 0.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 41,998,709 shares of the credit services provider’s stock after selling 202,620 shares during the quarter. BlackRock Inc. owned 9.65% of SLM worth $480,885,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the company. Oppenheimer & Co. Inc. acquired a new position in SLM in the first quarter valued at about $133,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in SLM by 19.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,872 shares of the credit services provider’s stock valued at $324,000 after purchasing an additional 4,671 shares in the last quarter. Swiss National Bank raised its stake in SLM by 2.2% in the first quarter. Swiss National Bank now owns 751,392 shares of the credit services provider’s stock valued at $8,423,000 after purchasing an additional 16,400 shares in the last quarter. Bailard Inc. acquired a new position in SLM in the first quarter valued at about $430,000. Finally, Robeco Institutional Asset Management B.V. raised its stake in SLM by 31.8% in the first quarter. Robeco Institutional Asset Management B.V. now owns 1,450,000 shares of the credit services provider’s stock valued at $16,255,000 after purchasing an additional 350,000 shares in the last quarter. 99.80% of the stock is owned by institutional investors.
In other news, EVP Paul F. Thome sold 22,104 shares of the company’s stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $11.13, for a total value of $246,017.52. Following the completion of the transaction, the executive vice president now owns 183,383 shares of the company’s stock, valued at $2,041,052.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.36% of the company’s stock.
SLM (NASDAQ:SLM) last issued its earnings results on Tuesday, July 24th. The credit services provider reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.02. The firm had revenue of $340.95 million during the quarter, compared to the consensus estimate of $333.28 million. SLM had a return on equity of 18.48% and a net margin of 21.69%. The business’s quarterly revenue was up 26.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.16 earnings per share. sell-side analysts predict that SLM Corp will post 1.01 earnings per share for the current year.
A number of research firms recently commented on SLM. Oppenheimer set a $16.00 price target on SLM and gave the company a “buy” rating in a research note on Wednesday, July 25th. Stephens initiated coverage on SLM in a research note on Monday, July 9th. They set an “overweight” rating and a $15.00 target price for the company. ValuEngine downgraded SLM from a “hold” rating to a “sell” rating in a research note on Thursday, August 2nd. Wells Fargo & Co set a $14.00 target price on SLM and gave the stock a “buy” rating in a research note on Friday, July 6th. Finally, Wedbush lowered their target price on SLM from $14.50 to $14.25 and set an “outperform” rating for the company in a research note on Wednesday, May 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company. SLM has a consensus rating of “Buy” and an average target price of $14.52.
SLM Corporation, together with 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 and their families. Its loan portfolio also includes federal family education loan program, personal, and other loans.
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