Principal Financial Group Inc. Sells 44,761 Shares of Addus HomeCare Corporation $ADUS

Principal Financial Group Inc. lessened its holdings in Addus HomeCare Corporation (NASDAQ:ADUS) by 9.3% in the third quarter, Holdings Channel reports. The institutional investor owned 435,755 shares of the company’s stock after selling 44,761 shares during the period. Principal Financial Group Inc.’s holdings in Addus HomeCare were worth $51,415,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ADUS. Russell Investments Group Ltd. increased its stake in shares of Addus HomeCare by 10.1% in the second quarter. Russell Investments Group Ltd. now owns 55,900 shares of the company’s stock valued at $6,439,000 after buying an additional 5,110 shares during the period. Nordea Investment Management AB boosted its holdings in Addus HomeCare by 0.3% in the second quarter. Nordea Investment Management AB now owns 36,159 shares of the company’s stock valued at $4,131,000 after acquiring an additional 111 shares during the last quarter. Creative Planning increased its position in Addus HomeCare by 150.9% during the 2nd quarter. Creative Planning now owns 7,024 shares of the company’s stock valued at $809,000 after purchasing an additional 4,224 shares during the period. Tributary Capital Management LLC raised its holdings in Addus HomeCare by 114.1% during the 3rd quarter. Tributary Capital Management LLC now owns 398,122 shares of the company’s stock worth $46,974,000 after purchasing an additional 212,192 shares during the last quarter. Finally, Maryland State Retirement & Pension System raised its holdings in Addus HomeCare by 1.9% during the 2nd quarter. Maryland State Retirement & Pension System now owns 5,335 shares of the company’s stock worth $615,000 after purchasing an additional 101 shares during the last quarter. 95.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Addus HomeCare

In related news, EVP Darby Anderson sold 20,000 shares of the stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $109.00, for a total value of $2,180,000.00. Following the transaction, the executive vice president directly owned 44,144 shares in the company, valued at $4,811,696. This trade represents a 31.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 20,316 shares of company stock worth $2,215,998 over the last quarter. 4.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ADUS has been the subject of several recent analyst reports. Royal Bank Of Canada increased their price objective on shares of Addus HomeCare from $134.00 to $139.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. TD Cowen reiterated a “buy” rating on shares of Addus HomeCare in a report on Wednesday, November 5th. BMO Capital Markets began coverage on Addus HomeCare in a research note on Thursday, November 13th. They issued a “market perform” rating and a $120.00 price objective on the stock. Truist Financial set a $135.00 target price on Addus HomeCare and gave the company a “buy” rating in a research report on Wednesday, January 7th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Addus HomeCare in a research note on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $135.44.

Addus HomeCare Stock Performance

Shares of ADUS opened at $105.60 on Thursday. Addus HomeCare Corporation has a one year low of $88.96 and a one year high of $124.43. The company has a market cap of $1.95 billion, a PE ratio of 22.61, a P/E/G ratio of 1.28 and a beta of 0.91. The stock has a 50-day moving average of $111.00 and a 200-day moving average of $112.89. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.66 and a quick ratio of 1.66.

Addus HomeCare (NASDAQ:ADUS) last posted its quarterly earnings results on Monday, November 3rd. The company reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.03. Addus HomeCare had a return on equity of 9.53% and a net margin of 6.36%.The business had revenue of $362.30 million for the quarter, compared to the consensus estimate of $354.48 million. During the same period in the prior year, the business earned $1.30 EPS. The firm’s revenue for the quarter was up 25.0% on a year-over-year basis. On average, equities research analysts predict that Addus HomeCare Corporation will post 4.59 EPS for the current fiscal year.

About Addus HomeCare

Addus HomeCare (NASDAQ: ADUS) is a leading provider of home and community-based care services for elderly, disabled, and medically complex individuals across the United States. Through a network of company-owned and franchise locations, the company delivers a broad spectrum of non-medical personal care and licensed home health services designed to support clients’ independence and quality of life.

The company’s core offerings include personal care assistance—covering daily living activities, medication reminders, and light housekeeping—and skilled home health services delivered under the supervision of registered nurses and licensed therapists.