Bank of America Corp DE Buys 91,018 Shares of Strategic Education Inc. $STRA

Key Points

• Bank of America acquired 91,018 shares of Strategic Education in the second quarter, valued at approximately $6.97 million, giving it a 0.41% stake. Institutional investors and hedge funds collectively own 93.27% of the company.
• Analyst sentiment remains mixed, with two Buy ratings and three Hold ratings. The average price target is $95.33, while Truist and BMO recently raised their targets to $90 and $91, respectively.
• Strategic Education reported quarterly EPS of $1.76, below the $1.80 consensus estimate, and revenue of $321.6 million, also below expectations. The company pays a quarterly dividend of $0.60 per share, representing a 3.1% yield.

Bank of America Corp DE purchased a new position in shares of Strategic Education Inc. (NASDAQ:STRA - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 91,018 shares of the health services provider's stock, valued at approximately $6,974,000. Bank of America Corp DE owned 0.41% of Strategic Education as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in STRA. Hsbc Holdings PLC acquired a new stake in Strategic Education in the second quarter worth about $1,594,000. BlackRock Inc. acquired a new stake in Strategic Education during the 2nd quarter worth $291,189,000. Quantinno Capital Management LP grew its holdings in Strategic Education by 343.3% during the 1st quarter. Quantinno Capital Management LP now owns 23,231 shares of the health services provider's stock worth $1,927,000 after acquiring an additional 17,990 shares during the period. PDT Partners LLC bought a new stake in shares of Strategic Education during the 2nd quarter valued at $3,521,000. Finally, Deutsche Bank AG bought a new stake in shares of Strategic Education during the 2nd quarter valued at $1,871,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on STRA shares. Truist Financial raised their target price on Strategic Education from $80.00 to $90.00 and gave the stock a "hold" rating in a report on Thursday, July 30th. Wall Street Zen upgraded shares of Strategic Education from a "hold" rating to a "buy" rating in a research report on Saturday, August 1st. Weiss Ratings reissued a "hold (c)" rating on shares of Strategic Education in a research note on Friday, July 17th. Zacks Research cut shares of Strategic Education from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 2nd. Finally, BMO Capital Markets increased their target price on shares of Strategic Education from $86.00 to $91.00 and gave the stock an "outperform" rating in a report on Monday, July 6th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $95.33.

Strategic Education Stock Performance

Shares of STRA stock opened at $76.83 on Monday. The firm's fifty day moving average price is $81.36 and its two-hundred day moving average price is $80.37. Strategic Education Inc. has a 1 year low of $69.70 and a 1 year high of $89.73. The firm has a market capitalization of $1.71 billion, a P/E ratio of 12.80, a PEG ratio of 0.71 and a beta of 0.49.

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). The company had revenue of $321.60 million for the quarter, compared to the consensus estimate of $327.55 million. Strategic Education had a return on equity of 8.98% and a net margin of 10.46%.The business's revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.54 EPS. As a group, equities research analysts forecast that Strategic Education Inc. will post 7.23 EPS for the current fiscal year.

Strategic Education Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 14th. Stockholders of record on Friday, September 4th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, September 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.1%. Strategic Education's dividend payout ratio (DPR) is currently 40.00%.

About Strategic Education

Strategic Education, Inc is a provider of postsecondary education serving working adults and other learners primarily in the United States. The company delivers academic programs through its Strayer University and Capella University institutions, using online instruction as well as campus-based and blended learning formats.

Its offerings include associate, bachelor's, master's and doctoral degree programs, along with certificates and other professional learning opportunities. Areas of study include business, information technology, healthcare, education, public administration and other career-focused disciplines.

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