The Manufacturers Life Insurance Company Grows Holdings in Select Medical Holdings Co. (NYSE:SEM)

The Manufacturers Life Insurance Company boosted its holdings in shares of Select Medical Holdings Co. (NYSE:SEM - Free Report) by 2,552.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,596,414 shares of the health services provider's stock after acquiring an additional 1,536,234 shares during the period. The Manufacturers Life Insurance Company owned 1.23% of Select Medical worth $30,092,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings in shares of Select Medical by 9.7% during the third quarter. JPMorgan Chase & Co. now owns 416,299 shares of the health services provider's stock valued at $14,516,000 after purchasing an additional 36,905 shares during the last quarter. Argent Capital Management LLC raised its stake in Select Medical by 79.8% during the fourth quarter. Argent Capital Management LLC now owns 55,144 shares of the health services provider's stock valued at $1,039,000 after buying an additional 24,471 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Select Medical by 1,309.5% in the fourth quarter. American Century Companies Inc. now owns 137,169 shares of the health services provider's stock worth $2,586,000 after acquiring an additional 127,437 shares during the last quarter. Sanctuary Advisors LLC increased its holdings in shares of Select Medical by 122.8% during the fourth quarter. Sanctuary Advisors LLC now owns 52,175 shares of the health services provider's stock valued at $1,035,000 after acquiring an additional 28,759 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Select Medical by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 12,712,990 shares of the health services provider's stock worth $239,640,000 after purchasing an additional 131,228 shares during the last quarter. Institutional investors own 89.48% of the company's stock.

Insiders Place Their Bets

In other news, CEO David S. Chernow sold 225,000 shares of the company's stock in a transaction on Monday, April 28th. The stock was sold at an average price of $18.00, for a total value of $4,050,000.00. Following the completion of the sale, the chief executive officer now directly owns 714,516 shares in the company, valued at $12,861,288. This represents a 23.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 11.60% of the company's stock.

Select Medical Trading Down 0.2 %

NYSE:SEM opened at $18.20 on Friday. The company has a 50 day simple moving average of $17.01 and a two-hundred day simple moving average of $21.96. The company has a market cap of $2.35 billion, a PE ratio of 11.03, a price-to-earnings-growth ratio of 0.64 and a beta of 1.38. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.37. Select Medical Holdings Co. has a 12 month low of $14.99 and a 12 month high of $40.98.

Select Medical (NYSE:SEM - Get Free Report) last posted its earnings results on Thursday, May 1st. The health services provider reported $0.44 earnings per share for the quarter, missing analysts' consensus estimates of $0.45 by ($0.01). Select Medical had a net margin of 3.23% and a return on equity of 14.04%. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the prior year, the company posted $0.75 EPS. The firm's revenue was down 24.4% compared to the same quarter last year. Research analysts forecast that Select Medical Holdings Co. will post 1.17 earnings per share for the current year.

Select Medical declared that its board has approved a stock repurchase program on Thursday, May 1st that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the health services provider to buy up to 42.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's leadership believes its shares are undervalued.

Select Medical Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 1.37%. Select Medical's dividend payout ratio is currently 15.15%.

Analyst Ratings Changes

SEM has been the topic of several recent analyst reports. StockNews.com raised shares of Select Medical from a "hold" rating to a "buy" rating in a research report on Friday, February 21st. Mizuho began coverage on shares of Select Medical in a research report on Wednesday, April 16th. They set an "outperform" rating and a $25.00 price target for the company. Royal Bank of Canada lowered their price objective on Select Medical from $47.00 to $23.00 and set an "outperform" rating on the stock in a research report on Monday, February 24th. UBS Group reduced their target price on Select Medical from $40.00 to $21.00 and set a "neutral" rating for the company in a report on Friday, January 3rd. Finally, Benchmark raised Select Medical from a "hold" rating to a "buy" rating and set a $23.00 price target on the stock in a report on Monday, February 24th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $26.80.

Select Medical Company Profile

Select Medical Holdings Corporation, through its subsidiaries, operates critical illness recovery hospitals, rehabilitation hospitals, outpatient rehabilitation clinics, and occupational health centers in the United States. It operates in four segments: Critical Illness Recovery Hospital, Rehabilitation Hospital, Outpatient Rehabilitation, and Concentra.

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