218,972 Shares in Strategic Education Inc. $STRA Acquired by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 218,972 shares of Strategic Education, valued at approximately $16.8 million and representing about 0.99% of the company. Institutional investors collectively own 93.27% of STRA.
• Analysts maintain a generally cautious view, with Strategic Education receiving an average “Hold” rating and a consensus price target of $95.33; two analysts rate it a Buy and three rate it a Hold.
• Strategic Education reported quarterly revenue of $321.6 million and earnings of $1.76 per share, both below analyst expectations, while revenue still increased 4.9% year over year. The company also declared a quarterly dividend of $0.60 per share, implying a 2.9% yield.

Bank of New York Mellon Corp purchased a new stake in Strategic Education Inc. (NASDAQ:STRA - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 218,972 shares of the health services provider's stock, valued at approximately $16,778,000. Bank of New York Mellon Corp owned approximately 0.99% of Strategic Education as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Orion Porfolio Solutions LLC boosted its holdings in shares of Strategic Education by 1.4% in the 3rd quarter. Orion Porfolio Solutions LLC now owns 9,367 shares of the health services provider's stock valued at $806,000 after buying an additional 129 shares in the last quarter. ProShare Advisors LLC raised its stake in Strategic Education by 3.0% during the 4th quarter. ProShare Advisors LLC now owns 4,538 shares of the health services provider's stock worth $364,000 after acquiring an additional 133 shares in the last quarter. Allworth Financial LP raised its stake in Strategic Education by 88.5% during the 3rd quarter. Allworth Financial LP now owns 294 shares of the health services provider's stock worth $25,000 after acquiring an additional 138 shares in the last quarter. Osaic Holdings Inc. lifted its position in Strategic Education by 85.2% in the second quarter. Osaic Holdings Inc. now owns 387 shares of the health services provider's stock valued at $33,000 after acquiring an additional 178 shares during the last quarter. Finally, Hantz Financial Services Inc. lifted its position in Strategic Education by 154.2% in the fourth quarter. Hantz Financial Services Inc. now owns 333 shares of the health services provider's stock valued at $27,000 after acquiring an additional 202 shares during the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on STRA. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Strategic Education in a report on Friday, July 17th. Barrington Research set a $105.00 target price on Strategic Education in a report on Wednesday, July 29th. Truist Financial upped their target price on Strategic Education from $80.00 to $90.00 and gave the company a "hold" rating in a research report on Thursday, July 30th. Zacks Research downgraded Strategic Education from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 2nd. Finally, BMO Capital Markets lifted their price target on Strategic Education from $86.00 to $91.00 and gave the stock an "outperform" rating in a research report on Monday, July 6th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Strategic Education currently has an average rating of "Hold" and an average price target of $95.33.

Strategic Education Stock Down 2.1%

Shares of STRA stock opened at $82.84 on Tuesday. The stock's 50-day moving average price is $81.10 and its 200 day moving average price is $80.08. The stock has a market capitalization of $1.84 billion, a PE ratio of 13.81, a price-to-earnings-growth ratio of 0.78 and a beta of 0.49. Strategic Education Inc. has a 52-week low of $69.70 and a 52-week high of $89.73.

Strategic Education (NASDAQ:STRA - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The health services provider reported $1.76 earnings per share for the quarter, missing analysts' consensus estimates of $1.80 by ($0.04). Strategic Education had a return on equity of 8.98% and a net margin of 10.46%.The company had revenue of $321.60 million for the quarter, compared to analyst estimates of $327.55 million. During the same period in the previous year, the business posted $1.54 earnings per share. The firm's revenue was up 4.9% compared to the same quarter last year. Analysts expect that Strategic Education Inc. will post 7.23 earnings per share for the current fiscal year.

Strategic Education Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Friday, September 4th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Friday, September 4th. Strategic Education's dividend payout ratio is 40.00%.

Insider Buying and Selling at Strategic Education

In related news, insider Christa Hokenson sold 2,000 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $80.00, for a total transaction of $160,000.00. Following the completion of the sale, the insider directly owned 65,195 shares of the company's stock, valued at $5,215,600. This trade represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.60% of the stock is currently owned by corporate insiders.

Strategic Education Profile

Strategic Education, Inc is a publicly traded higher education services holding company headquartered in Herndon, Virginia. Through its primary operating subsidiaries, Strayer University and Capella University, the company delivers degree programs and professional development opportunities to working adults. Its offerings span undergraduate and graduate degrees, certificates, continuing education, and workforce training in fields such as business, technology, health services, education, and public administration.

Strayer University, with a network of physical campuses across the United States complemented by an online platform, provides associate’s through doctoral degrees designed to accommodate non-traditional students.

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