Stock On Watch: SLM Corp Can’t Burn Your Long Portfolio. Just Reaches 52-Week High

Stock On Watch: SLM Corp Can't Burn Your Long Portfolio. Just Reaches 52 Week High

The stock of SLM Corp (NASDAQ:SLM) hit a new 52-week high and has $14.30 target or 49.00% above today’s $9.60 share price. The 9 months bullish chart indicates low risk for the $4.33B company. The 1-year high was reported on Nov, 18 by Barchart.com. If the $14.30 price target is reached, the company will be worth $2.12 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 823,436 shares traded hands. SLM Corp (NASDAQ:SLM) has risen 46.20% since April 18, 2016 and is uptrending. It has outperformed by 41.77% the S&P500.

SLM Corp (NASDAQ:SLM) Ratings Coverage

Out of 4 analysts covering Sallie Mae (NASDAQ:SLM), 4 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $11 is the highest target while $8 is the lowest. The $8.50 average target is -11.46% below today’s ($9.6) stock price. Sallie Mae has been the topic of 6 analyst reports since October 12, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating given on Wednesday, January 13 by Goldman Sachs. The stock of SLM Corp (NASDAQ:SLM) has “Buy” rating given on Wednesday, August 10 by Goldman Sachs. Compass Point maintained SLM Corp (NASDAQ:SLM) on Monday, October 12 with “Buy” rating. Compass Point maintained it with “Buy” rating and $8 target price in Thursday, January 21 report. The stock of SLM Corp (NASDAQ:SLM) has “Overweight” rating given on Monday, November 30 by JP Morgan. Citigroup initiated it with “Buy” rating and $8.50 target price in Thursday, July 14 report.

According to Zacks Investment Research, “SLM Corporation is the one of nation’s largest private sources of funding and servicing support for higher education loans for students and their parents. The company provides a wide range of financial services, processing capabilities and information technology to meet the needs of educational institutions, lenders, students and guarantee agencies.”

Insitutional Activity: The institutional sentiment decreased to 1.16 in 2016 Q2. Its down 0.15, from 1.31 in 2016Q1. The ratio fall, as 30 funds sold all SLM Corp shares owned while 63 reduced positions. 30 funds bought stakes while 92 increased positions. They now own 426.22 million shares or 6.70% more from 399.45 million shares in 2016Q1.
United Services Automobile Association holds 0.03% or 1.42M shares in its portfolio. Ellington Mgmt Gp Ltd Liability Com, a Connecticut-based fund reported 10,800 shares. Parkwood Ltd holds 106,316 shares or 0.11% of its portfolio. Jane Street Gp Limited Liability Com accumulated 0% or 18,937 shares. Metropolitan Life Insurance holds 401,918 shares or 0.02% of its portfolio. Barclays Public Ltd Com holds 0% or 17,238 shares in its portfolio. Employees Retirement System Of Texas holds 0.09% or 1.08 million shares in its portfolio. Sg Americas Limited Liability Company, a New York-based fund reported 784,085 shares. Teachers Retirement Of The State Of Kentucky accumulated 98,300 shares or 0.01% of the stock. Ig Invest Ltd holds 0% or 95,883 shares in its portfolio. Carroll Associates owns 1,000 shares or 0% of their US portfolio. Hsbc Holdg Public Ltd Limited Liability Company holds 1.12 million shares or 0.02% of its portfolio. The Illinois-based Ubs Asset Management Americas has invested 0% in SLM Corp (NASDAQ:SLM). Ameriprise Financial reported 2.06 million shares or 0.01% of all its holdings. Ameritas owns 67,663 shares or 0.03% of their US portfolio.

Insider Transactions: Since October 28, 2016, the stock had 3 insider buys, and 0 selling transactions for $211,700 net activity. SHIEBLER WILLIAM N had bought 10,000 shares worth $70,200 on Thursday, November 3. GOODE EARL A bought $70,300 worth of SLM Corp (NASDAQ:SLM) on Thursday, November 3. Shares for $71,200 were bought by KELER MARIANNE M.

More news for SLM Corp (NASDAQ:SLM) were recently published by: Fool.com, which released: “Why Corrections Corp. of America, SLM Corp., and US Steel Jumped Today” on November 09, 2016. Streetinsider.com‘s article titled: “Form 8-K SLM CORP For: Nov 08” and published on November 08, 2016 is yet another important article.

SLM Company Profile

SLM Corporation, incorporated on December 2, 2013, is a holding company. The Company’s primary business is to originate and service loans it makes to students and their families to finance the cost of their education. The Firm is a saving, planning and paying for education company. It is engaged in originating and servicing Private Education Loans it makes to students and their families. The Firm uses Private Education Loans to mean education loans to students or their families that are not made, insured or guaranteed by any state or federal government. The Firm also operates Upromise, Inc. (Upromise), a consumer savings network that provides financial rewards on everyday purchases to help families save for college.

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