Encompass Health Corporation $EHC Shares Sold by Corebridge Financial Inc.

Key Points

• Corebridge Financial Inc. reduced its stake in Encompass Health Corporation by 2.4%, now holding 111,270 shares valued at approximately $11.27 million.
• Analysts have generally given Encompass Health a positive outlook, with several raising price targets, leading to an average rating of "Buy" and a consensus target price of $134.00.
• Encompass Health announced an increase in its quarterly dividend to $0.19, marking an annualized yield of 0.6% and reflecting a strong financial performance in recent earnings.

Corebridge Financial Inc. cut its position in Encompass Health Corporation (NYSE:EHC - Free Report) by 2.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 111,270 shares of the company's stock after selling 2,719 shares during the quarter. Corebridge Financial Inc. owned 0.11% of Encompass Health worth $11,269,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of EHC. Colonial Trust Co SC purchased a new position in Encompass Health during the 4th quarter valued at about $29,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Encompass Health by 749.0% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 416 shares of the company's stock valued at $42,000 after purchasing an additional 367 shares in the last quarter. Arlington Trust Co LLC lifted its holdings in Encompass Health by 22.9% during the 1st quarter. Arlington Trust Co LLC now owns 671 shares of the company's stock worth $68,000 after buying an additional 125 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in Encompass Health by 19.0% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 720 shares of the company's stock worth $73,000 after buying an additional 115 shares in the last quarter. Finally, Johnson Financial Group Inc. purchased a new position in Encompass Health in the 4th quarter valued at approximately $72,000. Hedge funds and other institutional investors own 97.25% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Stephens upgraded Encompass Health from an "overweight" rating to a "strong-buy" rating and set a $135.00 price objective on the stock in a research note on Thursday, June 5th. KeyCorp increased their price target on Encompass Health from $122.00 to $135.00 and gave the company an "overweight" rating in a research report on Tuesday, May 27th. Wall Street Zen downgraded Encompass Health from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. Truist Financial raised their target price on shares of Encompass Health from $135.00 to $140.00 and gave the company a "buy" rating in a report on Thursday, August 14th. Finally, UBS Group boosted their price target on shares of Encompass Health from $130.00 to $140.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $134.00.

Encompass Health Stock Performance

Shares of EHC opened at $121.83 on Wednesday. The company has a market capitalization of $12.27 billion, a price-to-earnings ratio of 23.84, a price-to-earnings-growth ratio of 2.14 and a beta of 0.86. Encompass Health Corporation has a 52-week low of $87.85 and a 52-week high of $124.67. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.76. The stock has a 50 day moving average price of $116.46 and a 200 day moving average price of $110.64.

Encompass Health (NYSE:EHC - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $1.40 earnings per share for the quarter, topping analysts' consensus estimates of $1.20 by $0.20. Encompass Health had a net margin of 9.22% and a return on equity of 17.83%. The company had revenue of $1.46 billion for the quarter, compared to analysts' expectations of $1.43 billion. During the same quarter last year, the company earned $1.11 earnings per share. The firm's revenue for the quarter was up 12.0% on a year-over-year basis. Encompass Health has set its FY 2025 guidance at 5.120-5.340 EPS. Research analysts predict that Encompass Health Corporation will post 4.8 EPS for the current fiscal year.

Encompass Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Wednesday, October 1st. This is an increase from Encompass Health's previous quarterly dividend of $0.17. Encompass Health's dividend payout ratio (DPR) is presently 13.31%.

About Encompass Health

Encompass Health Corporation provides post-acute healthcare services in the United States and Puerto Rico. It owns and operates inpatient rehabilitation hospitals that provide medical, nursing, therapy, and ancillary services. The company provides specialized rehabilitative treatment on an inpatient basis to patients who have experienced physical or cognitive disabilities or injuries due to medical conditions, such as strokes, hip fractures, and various debilitating neurological conditions.

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