Geode Capital Management LLC Buys 307,406 Shares of SLM Corp (SLM)
Geode Capital Management LLC raised its position in shares of SLM Corp (NASDAQ:SLM) by 7.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 4,672,277 shares of the credit services provider’s stock after acquiring an additional 307,406 shares during the period. Geode Capital Management LLC’s holdings in SLM were worth $38,826,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of SLM in the fourth quarter worth $22,405,000. Bayview Asset Management LLC acquired a new position in shares of SLM in the fourth quarter worth $20,475,000. CI Investments Inc. increased its stake in shares of SLM by 33.8% in the fourth quarter. CI Investments Inc. now owns 9,058,926 shares of the credit services provider’s stock worth $75,280,000 after acquiring an additional 2,289,626 shares during the last quarter. BlackRock Inc. increased its stake in shares of SLM by 4.4% in the fourth quarter. BlackRock Inc. now owns 43,240,757 shares of the credit services provider’s stock worth $359,332,000 after acquiring an additional 1,823,633 shares during the last quarter. Finally, Portolan Capital Management LLC increased its stake in shares of SLM by 80.3% in the fourth quarter. Portolan Capital Management LLC now owns 3,875,937 shares of the credit services provider’s stock worth $32,209,000 after acquiring an additional 1,726,393 shares during the last quarter.
SLM stock opened at $9.55 on Tuesday. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.38 and a quick ratio of 1.38. SLM Corp has a 52-week low of $7.95 and a 52-week high of $12.16. The stock has a market cap of $4.11 billion, a price-to-earnings ratio of 8.42, a PEG ratio of 0.42 and a beta of 1.43.
The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, June 7th will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend is Thursday, June 6th. SLM’s dividend payout ratio (DPR) is 11.21%.
A number of equities analysts have recently weighed in on SLM shares. Oppenheimer set a $14.00 price target on shares of SLM and gave the stock a “buy” rating in a research note on Sunday, April 21st. Wedbush set a $13.00 price target on shares of SLM and gave the stock a “buy” rating in a research note on Monday, April 22nd. ValuEngine downgraded shares of SLM from a “hold” rating to a “sell” rating in a research note on Tuesday, March 5th. BidaskClub downgraded shares of SLM from a “sell” rating to a “strong sell” rating in a research note on Tuesday, March 26th. Finally, Zacks Investment Research downgraded shares of SLM from a “buy” rating to a “hold” rating in a research note on Tuesday, April 9th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. SLM presently has an average rating of “Hold” and a consensus price target of $13.00.
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SLM Company 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.
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