The Manufacturers Life Insurance Company Has $30.09 Million Stock Position in Select Medical Holdings Co. (NYSE:SEM)

The Manufacturers Life Insurance Company increased its position in Select Medical Holdings Co. (NYSE:SEM - Free Report) by 2,552.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,596,414 shares of the health services provider's stock after purchasing an additional 1,536,234 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 1.23% of Select Medical worth $30,092,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SEM. JPMorgan Chase & Co. grew its stake in shares of Select Medical by 9.7% in the 3rd 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 period. Argent Capital Management LLC boosted its stake in shares of Select Medical by 79.8% in the 4th quarter. Argent Capital Management LLC now owns 55,144 shares of the health services provider's stock valued at $1,039,000 after purchasing an additional 24,471 shares in the last quarter. American Century Companies Inc. increased its holdings in Select Medical by 1,309.5% during the 4th quarter. American Century Companies Inc. now owns 137,169 shares of the health services provider's stock valued at $2,586,000 after purchasing an additional 127,437 shares in the last quarter. Sanctuary Advisors LLC grew 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 worth $1,035,000 after purchasing an additional 28,759 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Select Medical by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 12,712,990 shares of the health services provider's stock valued at $239,640,000 after buying an additional 131,228 shares in the last quarter. Institutional investors and hedge funds own 89.48% of the company's stock.

Insider Buying and Selling at Select Medical

In other news, Director Parvinderjit S. Khanuja purchased 21,000 shares of Select Medical stock in a transaction that occurred on Monday, May 5th. The stock was acquired at an average cost of $15.02 per share, for a total transaction of $315,420.00. Following the purchase, the director now directly owns 65,089 shares of the company's stock, valued at $977,636.78. This trade represents a 47.63 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO David S. Chernow sold 225,000 shares of the stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $18.00, for a total transaction of $4,050,000.00. Following the transaction, the chief executive officer now owns 714,516 shares in the company, valued at approximately $12,861,288. The trade was a 23.95 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 11.60% of the company's stock.

Select Medical Stock Up 3.3 %

Shares of NYSE:SEM traded up $0.48 during mid-day trading on Wednesday, reaching $14.93. 376,915 shares of the stock were exchanged, compared to its average volume of 863,662. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.37. Select Medical Holdings Co. has a one year low of $14.03 and a one year high of $40.98. The company has a market cap of $1.93 billion, a P/E ratio of 9.06, a P/E/G ratio of 0.64 and a beta of 1.40. The stock's 50 day simple moving average is $16.76 and its 200-day simple moving average is $21.47.

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

Select Medical declared that its Board of Directors has initiated a share repurchase plan on Thursday, May 1st that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the health services provider to repurchase up to 42.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Select Medical Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend is Thursday, May 15th. Select Medical's dividend payout ratio (DPR) is presently 18.66%.

Analyst Ratings Changes

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

About Select Medical

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.