Wells Fargo & Company MN decreased its holdings in SLM Corp (NASDAQ:SLM) by 1.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,347,515 shares of the credit services provider’s stock after selling 208,238 shares during the quarter. Wells Fargo & Company MN’s holdings in SLM were worth $128,226,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in SLM. Steward Partners Investment Advisory LLC purchased a new stake in SLM in the 3rd quarter valued at $115,000. Cerebellum GP LLC purchased a new position in SLM during the 4th quarter worth $127,000. LMR Partners LLP raised its position in SLM by 36.6% during the 4th quarter. LMR Partners LLP now owns 23,202 shares of the credit services provider’s stock worth $262,000 after buying an additional 6,222 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in SLM by 47.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,201 shares of the credit services provider’s stock worth $273,000 after buying an additional 7,802 shares during the last quarter. Finally, State of Alaska Department of Revenue purchased a new position in shares of SLM in the 4th quarter valued at about $289,000. Hedge funds and other institutional investors own 97.11% of the company’s stock.
In related news, SVP Jonathan Boyles sold 2,776 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $11.65, for a total value of $32,340.40. Following the transaction, the senior vice president now owns 173,728 shares in the company, valued at $2,023,931.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Raymond J. Quinlan sold 200,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $11.52, for a total transaction of $2,304,000.00. Following the completion of the transaction, the chief executive officer now owns 1,080,133 shares in the company, valued at approximately $12,443,132.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 375,323 shares of company stock worth $4,317,997. Insiders own 0.59% of the company’s stock.
SLM (NASDAQ:SLM) last released its quarterly earnings results on Wednesday, January 17th. The credit services provider reported $0.19 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.19. SLM had a net margin of 20.23% and a return on equity of 16.65%. The company had revenue of $309.19 million for the quarter, compared to analysts’ expectations of $299.64 million. During the same period last year, the company earned $0.15 EPS. sell-side analysts predict that SLM Corp will post 0.99 earnings per share for the current fiscal year.
A number of equities research analysts recently commented on the stock. Zacks Investment Research raised shares of SLM from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a research note on Thursday, January 11th. Jefferies Group reissued a “buy” rating and issued a $16.00 price objective on shares of SLM in a research note on Thursday, January 11th. Citigroup assumed coverage on shares of SLM in a research note on Monday, January 8th. They issued an “outperform” rating and a $17.00 price objective on the stock. Oppenheimer assumed coverage on shares of SLM in a research note on Monday, January 8th. They issued an “outperform” rating and a $17.00 price objective on the stock. Finally, BidaskClub raised shares of SLM from a “strong sell” rating to a “sell” rating in a research note on Friday, December 22nd. Two analysts have rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $14.18.
TRADEMARK VIOLATION NOTICE: “Wells Fargo & Company MN Has $128.23 Million Holdings in SLM Corp (SLM)” was first reported by Community Financial News and is the property of of Community Financial News. If you are viewing this article on another domain, it was stolen and reposted in violation of U.S. and international trademark and copyright laws. The correct version of this article can be viewed at https://www.com-unik.info/2018/02/20/wells-fargo-company-mn-has-128-23-million-holdings-in-slm-corp-slm.html.
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.
Want to see what other hedge funds are holding SLM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SLM Corp (NASDAQ:SLM).
Receive News & Ratings for SLM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SLM and related companies with MarketBeat.com's FREE daily email newsletter.