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JPMorgan Chase & Co. Lowers Stock Position in Encompass Health Corporation (NYSE:EHC)

Encompass Health logo with Medical background

Key Points

  • JPMorgan Chase & Co. has reduced its ownership in Encompass Health Corporation by 6.0%, now holding 1,713,844 shares valued at approximately $173.6 million as of its latest filing.
  • Encompass Health reported earnings of $1.40 per share for the last quarter, exceeding analyst expectations and showing a 12.0% year-over-year increase in revenue, totaling $1.46 billion.
  • The company announced an increase in its quarterly dividend from $0.17 to $0.19 per share, reflecting a modest annual yield of 0.6%.
  • Want stock alerts on Encompass Health? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

JPMorgan Chase & Co. lessened its stake in shares of Encompass Health Corporation (NYSE:EHC - Free Report) by 6.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,713,844 shares of the company's stock after selling 108,802 shares during the quarter. JPMorgan Chase & Co. owned 1.70% of Encompass Health worth $173,578,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Colonial Trust Co SC purchased a new position in Encompass Health during the fourth quarter worth about $29,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Encompass Health by 749.0% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 416 shares of the company's stock worth $42,000 after buying an additional 367 shares during the period. Transce3nd LLC purchased a new position in Encompass Health during the fourth quarter worth about $40,000. Arlington Trust Co LLC boosted its stake in Encompass Health by 22.9% during the first quarter. Arlington Trust Co LLC now owns 671 shares of the company's stock worth $68,000 after buying an additional 125 shares during the period. Finally, Johnson Financial Group Inc. purchased a new position in Encompass Health during the fourth quarter worth about $72,000. Hedge funds and other institutional investors own 97.25% of the company's stock.

Encompass Health Stock Up 0.4%

Shares of Encompass Health stock opened at $119.62 on Friday. Encompass Health Corporation has a 52-week low of $87.36 and a 52-week high of $123.13. The company has a 50 day moving average of $116.16 and a 200 day moving average of $109.30. 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 company has a market capitalization of $12.05 billion, a P/E ratio of 23.41, a P/E/G ratio of 2.08 and a beta of 0.86.

Encompass Health (NYSE:EHC - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $1.40 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the previous year, the firm earned $1.11 earnings per share. The firm's quarterly revenue was up 12.0% on a year-over-year basis. As a group, research analysts forecast that Encompass Health Corporation will post 4.8 EPS for the current fiscal year.

Encompass Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be issued a dividend of $0.19 per share. 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. This represents a $0.76 dividend on an annualized basis and a yield of 0.6%. Encompass Health's dividend payout ratio is 13.31%.

Insiders Place Their Bets

In other Encompass Health news, CEO Mark J. Tarr sold 118,384 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $121.53, for a total transaction of $14,387,207.52. Following the sale, the chief executive officer owned 527,070 shares of the company's stock, valued at approximately $64,054,817.10. This trade represents a 18.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on EHC shares. KeyCorp raised their price objective on shares of Encompass Health from $122.00 to $135.00 and gave the company an "overweight" rating in a research note on Tuesday, May 27th. Barclays raised their price objective on shares of Encompass Health from $118.00 to $129.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Wall Street Zen lowered shares of Encompass Health from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. Royal Bank Of Canada raised their price objective on shares of Encompass Health from $110.00 to $125.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. Finally, UBS Group raised their price objective on shares of Encompass Health from $130.00 to $140.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Encompass Health has a consensus rating of "Buy" and an average target price of $134.00.

Get Our Latest Stock Report on Encompass Health

Encompass Health Profile

(Free Report)

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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Institutional Ownership by Quarter for Encompass Health (NYSE:EHC)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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