Bank of America Corp DE Acquires 36,792 Shares of Strategic Education Inc. $STRA

Key Points

• Bank of America increased its Strategic Education stake by 81%, acquiring 36,792 shares to hold 82,238 shares worth approximately $6.8 million. Institutional investors collectively own 93.27% of the company.
• Analysts maintain a consensus “Hold” rating with an average price target of $95.33, while individual targets range from $90 to $105.
• Strategic Education’s latest quarterly revenue rose 4.9% year over year to $321.6 million, though EPS of $1.76 missed estimates. The company also declared a quarterly dividend of $0.60 per share, representing a 2.8% yield.

Bank of America Corp DE lifted its holdings in shares of Strategic Education Inc. (NASDAQ:STRA - Free Report) by 81.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,238 shares of the health services provider's stock after purchasing an additional 36,792 shares during the quarter. Bank of America Corp DE owned 0.36% of Strategic Education worth $6,822,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Strategic Education by 3.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,195 shares of the health services provider's stock worth $1,360,000 after buying an additional 487 shares in the last quarter. Jane Street Group LLC raised its position in Strategic Education by 40.2% during the first quarter. Jane Street Group LLC now owns 43,433 shares of the health services provider's stock valued at $3,647,000 after purchasing an additional 12,444 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in Strategic Education by 192.7% during the second quarter. EverSource Wealth Advisors LLC now owns 1,162 shares of the health services provider's stock valued at $99,000 after purchasing an additional 765 shares in the last quarter. First Trust Advisors LP lifted its stake in Strategic Education by 20.0% during the second quarter. First Trust Advisors LP now owns 24,657 shares of the health services provider's stock worth $2,099,000 after purchasing an additional 4,118 shares during the last quarter. Finally, Jump Financial LLC bought a new stake in Strategic Education during the second quarter worth about $246,000. Hedge funds and other institutional investors own 93.27% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on STRA shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Strategic Education in a report on Friday, July 17th. Truist Financial raised their price objective on Strategic Education from $80.00 to $90.00 and gave the company a "hold" rating in a report on Thursday, July 30th. Barrington Research set a $105.00 target price on Strategic Education in a research report on Wednesday, July 29th. BMO Capital Markets upped their target price on Strategic Education from $86.00 to $91.00 and gave the stock an "outperform" rating in a research note on Monday, July 6th. Finally, Wall Street Zen upgraded shares of Strategic Education from a "hold" rating to a "buy" rating in a research report on Saturday, August 1st. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $95.33.

Strategic Education Trading Up 2.4%

Shares of Strategic Education stock opened at $86.03 on Wednesday. The business has a fifty day simple moving average of $80.38 and a two-hundred day simple moving average of $79.97. The firm has a market capitalization of $1.91 billion, a P/E ratio of 14.34, a P/E/G ratio of 0.77 and a beta of 0.49. Strategic Education Inc. has a 12 month low of $69.70 and a 12 month high of $89.73.

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

Strategic Education Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Friday, September 4th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, September 4th. Strategic Education's dividend payout ratio is currently 40.00%.

Insider Buying and Selling at Strategic Education

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

About Strategic Education

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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