Goldman Sachs Group Inc. boosted its position in shares of SLM Corp (NASDAQ:SLM) by 22.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,772,956 shares of the credit services provider’s stock after acquiring an additional 3,451,751 shares during the period. Goldman Sachs Group Inc. owned 4.35% of SLM worth $212,134,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SLM. Steward Partners Investment Advisory LLC bought a new stake in SLM during the 3rd quarter worth approximately $115,000. Cerebellum GP LLC purchased a new stake in SLM during the 4th quarter valued at approximately $127,000. Virtu Financial LLC purchased a new stake in SLM during the 4th quarter valued at approximately $135,000. Centaurus Financial Inc. purchased a new stake in SLM during the 4th quarter valued at approximately $174,000. Finally, LMR Partners LLP grew its holdings in SLM by 36.6% during the 4th quarter. LMR Partners LLP now owns 23,202 shares of the credit services provider’s stock valued at $262,000 after buying an additional 6,222 shares in the last quarter. Institutional investors own 99.35% of the company’s stock.
In related news, SVP Jonathan Boyles sold 64,585 shares of the firm’s stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $10.95, for a total value of $707,205.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Laurent Charles Lutz sold 10,000 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $11.80, for a total transaction of $118,000.00. Following the completion of the transaction, the executive vice president now directly owns 410,806 shares of the company’s stock, valued at $4,847,510.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 274,939 shares of company stock valued at $3,112,679. 0.59% of the stock is currently owned by insiders.
SLM (NASDAQ:SLM) last posted its earnings results on Wednesday, January 17th. The credit services provider reported $0.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.19. SLM had a net margin of 20.23% and a return on equity of 16.65%. The firm had revenue of $309.19 million during the quarter, compared to analyst estimates of $299.64 million. During the same period last year, the firm posted $0.15 earnings per share. research analysts predict that SLM Corp will post 0.99 EPS for the current year.
SLM has been the subject of a number of research analyst reports. Citigroup initiated coverage on shares of SLM in a report on Monday, January 8th. They set an “outperform” rating and a $17.00 price objective for the company. Zacks Investment Research lowered shares of SLM from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th. BidaskClub raised shares of SLM from a “strong sell” rating to a “sell” rating in a report on Friday, December 22nd. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $16.00 price objective on shares of SLM in a report on Friday, December 22nd. Finally, Bank of America cut their price objective on shares of SLM from $14.00 to $13.00 and set a “buy” rating for the company in a report on Friday, January 26th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $14.18.
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SLM Corporation (Sallie Mae) is the nation’s saving, planning, and paying for college company. Sallie Mae offers products, which promote personal finance including private education loans, Upromise rewards, scholarship search, college financial planning tools, insurance, and online retail banking.
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