Goldman Sachs Group Inc. Sells 111,686 Shares of Strategic Education Inc. $STRA

Key Points

• Goldman Sachs Group Inc. reduced its stake in Strategic Education Inc. by 55.9%, owning 88,275 shares after selling 111,686 shares in the first quarter.
• Strategic Education announced a quarterly dividend of $0.60 per share, with a dividend yield of 2.9%, payable on September 15th.
• Analysts have rated Strategic Education with an average rating of "Buy" and set a price target of $99.33.

Goldman Sachs Group Inc. trimmed its position in Strategic Education Inc. (NASDAQ:STRA - Free Report) by 55.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 88,275 shares of the health services provider's stock after selling 111,686 shares during the period. Goldman Sachs Group Inc. owned 0.37% of Strategic Education worth $7,412,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Nuveen LLC bought a new position in Strategic Education during the 1st quarter worth $31,497,000. Burgundy Asset Management Ltd. raised its position in Strategic Education by 17.3% during the 1st quarter. Burgundy Asset Management Ltd. now owns 1,475,831 shares of the health services provider's stock worth $123,911,000 after purchasing an additional 217,151 shares during the last quarter. Public Sector Pension Investment Board raised its position in Strategic Education by 129.9% during the 1st quarter. Public Sector Pension Investment Board now owns 139,374 shares of the health services provider's stock worth $11,702,000 after purchasing an additional 78,740 shares during the last quarter. Royal Bank of Canada raised its position in Strategic Education by 9.5% during the 1st quarter. Royal Bank of Canada now owns 645,235 shares of the health services provider's stock worth $54,174,000 after purchasing an additional 56,182 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its position in Strategic Education by 229.3% during the 1st quarter. Teacher Retirement System of Texas now owns 65,113 shares of the health services provider's stock worth $5,467,000 after purchasing an additional 45,341 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors.

Strategic Education Stock Performance

STRA stock opened at $82.82 on Friday. The company has a market capitalization of $1.98 billion, a P/E ratio of 17.22, a price-to-earnings-growth ratio of 0.99 and a beta of 0.69. Strategic Education Inc. has a 52-week low of $72.25 and a 52-week high of $104.51. The business has a 50-day simple moving average of $79.53 and a two-hundred day simple moving average of $82.49.

Strategic Education (NASDAQ:STRA - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The health services provider reported $1.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.42 by $0.10. The business had revenue of $321.47 million during the quarter, compared to the consensus estimate of $322.84 million. Strategic Education had a return on equity of 7.52% and a net margin of 9.27%.The company's quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.33 EPS. As a group, sell-side analysts forecast that Strategic Education Inc. will post 4.79 earnings per share for the current fiscal year.

Strategic Education Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, September 5th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $2.40 annualized dividend and a dividend yield of 2.9%. Strategic Education's dividend payout ratio (DPR) is currently 49.90%.

Insider Activity at Strategic Education

In related news, Director G Thomas Waite III sold 700 shares of Strategic Education stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $81.69, for a total value of $57,183.00. Following the sale, the director owned 15,926 shares of the company's stock, valued at approximately $1,300,994.94. The trade was a 4.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Daniel Wayne Jackson purchased 1,900 shares of the stock in a transaction that occurred on Friday, August 29th. The stock was bought at an average cost of $81.50 per share, for a total transaction of $154,850.00. Following the acquisition, the chief financial officer directly owned 104,136 shares in the company, valued at $8,487,084. This trade represents a 1.86% increase in their position. The disclosure for this purchase can be found here. 3.30% of the stock is owned by company insiders.

Analyst Ratings Changes

STRA has been the subject of several analyst reports. BMO Capital Markets reaffirmed an "outperform" rating on shares of Strategic Education in a research report on Monday, September 8th. Wall Street Zen upgraded Strategic Education from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Barrington Research reiterated an "outperform" rating and set a $105.00 price target on shares of Strategic Education in a report on Wednesday, July 30th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $99.33.

About Strategic Education

Strategic Education, Inc, through its subsidiaries, provides education services through campus-based and online post-secondary education, and programs to develop job-ready skills. The company operates through U.S. Higher Education, Australia/New Zealand, and Education Technology Services segments. It operates Strayer University that offers undergraduate and graduate degree programs in business, criminal justice, education, health services, information technology, and public administration at physical campuses located in the eastern United States, as well as through online; non-degree web and mobile application development courses through Hackbright Academy and Devmountain; and MBA online through its Jack Welch Management Institute.

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