SEC Form SC 13G filed by SLM Corporation

7/25/24 10:04:00 AM ET

Finance: Consumer Services

Finance

Get the next $SLM alert in real time by email

SC 13G 1 sc13g_3.txt SCHEDULE 13G UNITED STATES* SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. ____)* SLM Corporation ------------------------------------------------------------------------ (Name of Issuer) Common ------------------------------ (Title of Class of Securities) 78442P106 -------------- (CUSIP Number) June 30, 2024 ------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [ X ] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). - 1 - CUSIP No. 78442P106 1. Names of Reporting Persons, I.R.S. Identification Nos. of above persons (entities only): First Trust Portfolios L.P.: 36-3768815 First Trust Advisors L.P.: 36-3788904 The Charger Corporation: 36-3772451 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) [ ] (b) [ ] 3. SEC Use Only 4. Citizenship or Place of Organization of each Reporting Person: Illinois, U.S.A. Number of 5. Sole Voting Power: 0 Shares Bene- ficially Owned by Each 6. Shared Voting Power: Reporting Such shares are held by the following entities in the Person With: respective amounts listed: First Trust Portfolios L.P.: 0 First Trust Advisors L.P.: 14,589,812 The Charger Corporation: 14,589,812 7. Sole Dispositive Power: 0 8. Shared Dispositive Power: Such shares are held by the following entities in the respective amounts listed: First Trust Portfolios L.P.: 53,743 First Trust Advisors L.P.: 14,643,555 The Charger Corporation: 14,643,555 9. Aggregate Amount Beneficially Owned by Each Reporting Person: 14,643,555 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) - 2 - 11. Percent of Class Represented by Amount in Row (9): 6.66% 12. Type of Reporting Person (See Instructions) First Trust Portfolios L.P. - BD First Trust Advisors L.P. - IA The Charger Corporation - HC ITEM 1. (a) Name of Issuer: SLM Corporation (b) Address of Issuer's Principal Executive Offices Attn: Legal Department 300 Continental Drive Newark, DE 19713 USA ITEM 2. (a) Name of Person Filing First Trust Portfolios L.P. First Trust Advisors L.P. The Charger Corporation (b) Address of Principal Business Office or, if none, Residence First Trust Portfolios L.P. 120 East Liberty Drive, Suite 400 Wheaton, Illinois 60187 First Trust Advisors L.P. 120 East Liberty Drive, Suite 400 Wheaton, Illinois 60187 The Charger Corporation 120 East Liberty Drive, Suite 400 Wheaton, Illinois 60187 (c) Citizenship of each Reporting Person: Illinois, U.S.A. (d) Title of Class of Securities Common Stock (e) CUSIP Number 78442P106 - 3 - ITEM 3. If this statement is filed pursuant to Sec. 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: (a) x Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o); (b) Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c); (c) Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c); (d) Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8); (e) x An investment adviser in accordance with Sec. 240.13d-1(b)(1)(ii)(E); (f) An employee benefit plant or endowment fund in accordance with Sec. 240.13d-1(b)(1)(ii)(F); (g) x A parent holding company or control person in accordance with Sec. 240.13d-1(b)(1)(ii)(G); (h) A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) A non-U.S. institution in accordance with Sec. 240.13d-1(b)(1)(ii)(J); (k) Group, in accordance with Sec. 240.13d-1(b)1(ii)(K). If filing as a non-U.S. institution in accordance with Sec. 204.13d-1(b)(1)(ii)(J), please specify the type of institution: _____________________________________________ ITEM 4. Ownership Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned: 14,643,555 (b) Percent of class: 6.66% (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 0 (ii) Shared power to vote or to direct the vote: 14,589,812 (iii) Sole power to dispose or to direct the disposition of: 0 (iv) Shared power to dispose or to direct the disposition of: 14,643,555 - 4 - Instruction. For computations regarding securities which represent a right to acquire an underlying security see Sec. 204.13d-3(d)(1). ITEM 5. Ownership of Five Percent or Less of a Class If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [ ]. Instruction: Dissolution of a group requires a response to this item. ITEM 6. Ownership of More than Five Percent on Behalf of Another Person This Schedule 13G filing is jointly filed by The Charger Corporation, First Trust Portfolios L.P. and First Trust Advisors L.P. pursuant to Rule 13d-1(k)(1). The Charger Corporation is the General Partner of both First Trust Portfolios L.P. and First Trust Advisors L.P. First Trust Portfolios L.P. acts as sponsor of certain unit investment trusts which hold shares of the issuer. The total number of shares of the issuer held by these unit investment trusts is set forth in Row (8) above with respect to First Trust Portfolios L.P. No individual unit investment trust sponsored by First Trust Portfolios L.P. holds more than 3% of any registered investment company issuer's shares. First Trust Advisors L.P., an affiliate of First Trust Portfolios L.P., acts as portfolio supervisor of the unit investment trusts sponsored by First Trust Portfolios L.P., certain of which hold shares of the issuer. Neither First Trust Portfolios L.P., First Trust Advisors L.P. nor The Charger Corporation have the power to vote the shares of the issuer held by these unit investment trusts sponsored by First Trust Portfolios L.P. These shares are voted by the trustee of such unit investment trusts so as to insure that the shares are ordinarily voted as closely as possible in the same manner and in the same general proportion as are the shares held by owners other than such unit investment trusts. Subject to the requirements of Rule 12d1-4 under the Investment Company Act of 1940 and as further explained in the Standard Terms and Conditions of Trust and related Trust Agreements of the unit investment trusts, First Trust Portfolios L.P., on behalf of the unit investment trusts, may enter into an agreement with a deposited fund which may permit the shares of such fund to be voted in the best interest of unit holders at the discretion of First Trust Portfolios L.P. The difference, if any, between the aggregate amount of shares beneficially owned by each reporting person, as set forth in Row (9) above, and the number of shares of the issuer held by the unit investment trusts sponsored by First Trust Portfolios L.P. represents shares of the issuer which are either held in other registered investment companies, pooled investment vehicles and/or separately managed accounts for which First Trust Advisors L.P. serves as investment advisor and/or investment sub-advisor. Each of First Trust Portfolios L.P., First Trust Advisors L.P. and The Charger Corporation disclaims beneficial ownership of the shares of the issuer identified in this filing. ITEM 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Control Person See Item 6. ITEM 8. Identification and Classification of Members of the Group Not Applicable. - 5 - ITEM 9. Notice of Dissolution of Group Not Applicable. ITEM 10. Certifications By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect other than activities solely in connection with a nomination under Sec. 240.14a-11. SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. FIRST TRUST PORTFOLIOS L.P., FIRST TRUST ADVISORS L.P. and THE CHARGER CORPORATION Date: July 25, 2024 By: /s/ James M. Dykas --------------------------- Name: James M. Dykas Title: Chief Financial Officer of First Trust Portfolios L.P. and First Trust Advisors L.P., and Chief Financial Officer and Treasurer of The Charger Corporation - 6 -

Get the next $SLM alert in real time by email

Recent Analyst Ratings for

$SLM

Date	Price Target	Rating	Analyst
9/25/2024	$27.00	Buy	BofA Securities
1/16/2024	$14.00 → $23.00	Neutral → Buy	Citigroup
1/10/2024	$25.00	Buy	Deutsche Bank
1/4/2024	$18.00 → $20.00	Overweight → Neutral	JP Morgan
12/8/2023	$14.00 → $20.00	Equal Weight → Overweight	Wells Fargo
11/15/2023	$16.00	Overweight	Barclays
11/1/2023	$17.50	Outperform	TD Cowen
4/17/2023	$16.00 → $17.00	Neutral → Overweight	JP Morgan

More analyst ratings

SEC Form SC 13G filed by SLM Corporation

Chat with this insight

Recent Analyst Ratings for $SLM

$SLM Financials

Live finance-specific insights

Sallie Mae Reports Third-Quarter 2024 Financial Results and Increases Dividend on Common Stock for Fourth-Quarter 2024

Sallie Mae to Release Third-Quarter 2024 Financial Results

Sallie Mae Reports Second-Quarter 2024 Financial Results

$SLM Press Releases

Fastest customizable press release news feed in the world

Sallie Mae Provides Tips and Tools to Help Students and Families Access Scholarships This National Scholarship Month

Sallie Mae Commemorates Veterans Day With $50,000 Grant to Folds Of Honor

Sallie Mae Reports Third-Quarter 2024 Financial Results and Increases Dividend on Common Stock for Fourth-Quarter 2024

$SLM Analyst Ratings

Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

BofA Securities initiated coverage on Sallie Mae with a new price target

Sallie Mae upgraded by Citigroup with a new price target

Deutsche Bank initiated coverage on Sallie Mae with a new price target

$SLM Insider Trading

Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

Director Strong Robert S. sold $99,505 worth of shares (4,500 units at $22.11), decreasing direct ownership by 5% to 87,630 units (SEC Form 4)

EVP, CFO & Treasurer Graham Peter M covered exercise/tax liability with 6,625 shares, decreasing direct ownership by 7% to 92,119 units (SEC Form 4)

Director Strong Robert S. sold $102,230 worth of shares (4,500 units at $22.72), decreasing direct ownership by 5% to 92,130 units (SEC Form 4)

$SLM Market Insights

Live Market Insights

Beyond The Numbers: 5 Analysts Discuss SLM Stock

JP Morgan Maintains Neutral on SLM, Raises Price Target to $25

Keefe, Bruyette & Woods Maintains Outperform on SLM, Raises Price Target to $27

$SLM Large Ownership Changes

This live feed shows all institutional transactions in real time.

SEC Form SC 13G filed by SLM Corporation

SEC Form SC 13G/A filed by SLM Corporation (Amendment)

SEC Form SC 13G/A filed by SLM Corporation (Amendment)

$SLM Leadership Updates

Live Leadership Updates

Sallie Mae Appoints New Members to Its Board of Directors

Engageware Appoints Software Veteran Nina Vellayan as Chief Executive Officer

Sallie Mae Appoints R. Scott Blackley to Its Board of Directors

$SLM Insider Purchases

Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

$SLM SEC Filings

Blackley Richard Scott bought $249,378 worth of shares (11,702 units at $21.31), increasing direct ownership by 99% to 23,518 units (SEC Form 4)

SLM Corporation filed SEC Form 8-K: Regulation FD Disclosure, Financial Statements and Exhibits

SLM Corporation filed SEC Form 8-K: Regulation FD Disclosure, Financial Statements and Exhibits

SEC Form 10-Q filed by SLM Corporation

Recent Analyst Ratings for
$SLM

$SLM
Financials

$SLM
Press Releases

$SLM
Analyst Ratings

$SLM
Insider Trading

$SLM
Market Insights

$SLM
Large Ownership Changes

$SLM
Leadership Updates

$SLM
Insider Purchases

$SLM
SEC Filings