SLM Corp (SLM) Shares Sold by Point72 Asset Management L.P.
Point72 Asset Management L.P. trimmed its position in SLM Corp (NASDAQ:SLM) by 66.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 821,012 shares of the credit services provider’s stock after selling 1,602,488 shares during the period. Point72 Asset Management L.P. owned about 0.19% of SLM worth $9,401,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of SLM. Calamos Wealth Management LLC purchased a new position in SLM in the 2nd quarter worth approximately $129,000. Oppenheimer & Co. Inc. purchased a new position in SLM in the 1st quarter worth approximately $133,000. Gillespie Robinson & Grimm Inc. purchased a new position in SLM in the 2nd quarter worth approximately $149,000. BB&T Securities LLC purchased a new position in SLM in the 2nd quarter worth approximately $153,000. Finally, American Asset Management Inc. purchased a new position in SLM in the 2nd quarter worth approximately $187,000. Institutional investors own 99.73% of the company’s stock.
SLM has been the topic of a number of research reports. Wells Fargo & Co set a $14.00 target price on shares of SLM and gave the stock a “buy” rating in a research note on Friday, July 6th. Oppenheimer set a $16.00 target price on shares of SLM and gave the stock a “buy” rating in a research note on Wednesday, July 25th. ValuEngine raised shares of SLM from a “sell” rating to a “hold” rating in a research report on Friday, August 10th. Zacks Investment Research raised shares of SLM from a “sell” rating to a “hold” rating in a research report on Tuesday, September 11th. Finally, Wedbush reduced their price target on shares of SLM from $14.50 to $14.25 and set an “outperform” rating on the stock in a research report on Wednesday, May 30th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $14.52.
SLM (NASDAQ:SLM) last released its quarterly earnings results on Tuesday, July 24th. The credit services provider reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.02. The firm had revenue of $340.95 million for the quarter, compared to analyst estimates of $333.28 million. SLM had a net margin of 21.69% and a return on equity of 18.48%. The business’s revenue for the quarter was up 26.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.16 EPS. analysts forecast that SLM Corp will post 1.01 earnings per share for the current year.
In other SLM news, EVP Paul F. Thome sold 22,104 shares of the business’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 sale, the executive vice president now owns 183,383 shares of the company’s stock, valued at $2,041,052.79. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.36% of the stock is owned by insiders.
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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