Sovereign Financial Group Inc. Sells 1,822 Shares of Select Medical Holdings Co. (NYSE:SEM)

Sovereign Financial Group Inc. trimmed its position in Select Medical Holdings Co. (NYSE:SEM) by 6.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,319 shares of the health services provider’s stock after selling 1,822 shares during the period. Sovereign Financial Group Inc.’s holdings in Select Medical were worth $618,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Deutsche Bank AG increased its holdings in Select Medical by 1,015.2% during the 3rd quarter. Deutsche Bank AG now owns 553,306 shares of the health services provider’s stock worth $13,982,000 after purchasing an additional 503,692 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Select Medical by 15.7% during the 4th quarter. Victory Capital Management Inc. now owns 1,739,361 shares of the health services provider’s stock worth $40,875,000 after purchasing an additional 235,964 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in Select Medical during the 3rd quarter worth approximately $5,637,000. Trexquant Investment LP boosted its stake in shares of Select Medical by 257.8% in the 3rd quarter. Trexquant Investment LP now owns 165,742 shares of the health services provider’s stock worth $4,188,000 after buying an additional 119,416 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Select Medical by 5.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,467,109 shares of the health services provider’s stock worth $34,477,000 after buying an additional 79,907 shares during the last quarter. 89.48% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SEM. Royal Bank of Canada boosted their target price on Select Medical from $36.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday. Benchmark restated a “buy” rating and issued a $39.00 target price on shares of Select Medical in a research note on Friday. Finally, StockNews.com upgraded Select Medical from a “hold” rating to a “buy” rating in a research note on Friday, March 22nd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $34.80.

Insider Transactions at Select Medical

In other news, Chairman Robert A. Ortenzio sold 50,000 shares of the company’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $29.90, for a total value of $1,495,000.00. Following the transaction, the chairman now owns 6,689,668 shares of the company’s stock, valued at $200,021,073.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 17.50% of the company’s stock.

Select Medical Stock Performance

Shares of NYSE:SEM traded up $0.63 during trading on Tuesday, hitting $32.74. 594,608 shares of the company were exchanged, compared to its average volume of 582,959. The company has a market cap of $4.26 billion, a PE ratio of 15.59, a P/E/G ratio of 1.24 and a beta of 1.38. The stock has a 50 day moving average of $28.60 and a 200 day moving average of $26.07. Select Medical Holdings Co. has a 52-week low of $21.28 and a 52-week high of $33.51. The company has a debt-to-equity ratio of 2.30, a current ratio of 1.22 and a quick ratio of 1.22.

Select Medical (NYSE:SEM) last posted its earnings results on Friday, February 23rd. The health services provider reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.05. The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.64 billion. Select Medical had a return on equity of 18.11% and a net margin of 3.97%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.22 earnings per share. As a group, equities research analysts predict that Select Medical Holdings Co. will post 2.03 EPS for the current year.

Select Medical Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $0.50 annualized dividend and a dividend yield of 1.53%. Select Medical’s payout ratio is currently 23.81%.

Select Medical Profile

Select Medical Holdings Corporation, through its subsidiaries, operates critical illness recovery hospitals, rehabilitation hospitals, outpatient rehabilitation clinics, and occupational health centers in the United States. It operates in four segments: Critical Illness Recovery Hospital, Rehabilitation Hospital, Outpatient Rehabilitation, and Concentra.