JPMorgan Chase & Co. Increases Stake in MAXIMUS, Inc. (MMS)
JPMorgan Chase & Co. increased its position in shares of MAXIMUS, Inc. (NYSE:MMS) by 27.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 163,579 shares of the health services provider’s stock after buying an additional 35,582 shares during the period. JPMorgan Chase & Co. owned about 0.25% of MAXIMUS worth $10,643,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Engineers Gate Manager LP purchased a new position in shares of MAXIMUS during the third quarter valued at $254,000. Commonwealth Bank of Australia purchased a new position in shares of MAXIMUS during the third quarter valued at $273,000. First National Bank of Omaha increased its stake in shares of MAXIMUS by 23.3% during the third quarter. First National Bank of Omaha now owns 4,210 shares of the health services provider’s stock valued at $274,000 after buying an additional 795 shares during the period. Advisors Asset Management Inc. increased its stake in shares of MAXIMUS by 353.0% during the second quarter. Advisors Asset Management Inc. now owns 7,424 shares of the health services provider’s stock valued at $461,000 after buying an additional 5,785 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in shares of MAXIMUS by 75.5% during the third quarter. Tower Research Capital LLC TRC now owns 7,127 shares of the health services provider’s stock valued at $464,000 after buying an additional 3,066 shares during the period. Hedge funds and other institutional investors own 95.26% of the company’s stock.
In related news, Director Russell A. Beliveau sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, January 2nd. The stock was sold at an average price of $64.14, for a total transaction of $64,140.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Vice Chairman Richard A. Montoni sold 29,107 shares of the firm’s stock in a transaction dated Tuesday, November 27th. The shares were sold at an average price of $68.29, for a total value of $1,987,717.03. Following the sale, the insider now directly owns 464,474 shares in the company, valued at approximately $31,718,929.46. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 74,617 shares of company stock worth $5,232,000. 2.20% of the stock is owned by corporate insiders.
Shares of MAXIMUS stock opened at $73.78 on Friday. The firm has a market cap of $4.71 billion, a PE ratio of 21.70, a PEG ratio of 1.92 and a beta of 1.02. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.32 and a current ratio of 2.32. MAXIMUS, Inc. has a 12 month low of $60.00 and a 12 month high of $73.81.
MAXIMUS (NYSE:MMS) last issued its quarterly earnings data on Thursday, February 7th. The health services provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. MAXIMUS had a return on equity of 20.09% and a net margin of 8.94%. The company had revenue of $664.60 million for the quarter, compared to the consensus estimate of $672.08 million. During the same quarter last year, the company earned $0.89 earnings per share. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. Sell-side analysts predict that MAXIMUS, Inc. will post 3.66 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 28th. Investors of record on Friday, February 15th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date is Thursday, February 14th. MAXIMUS’s payout ratio is currently 29.41%.
MAXIMUS, Inc provides business process services (BPS) to government health and human services programs worldwide. The company's Health Services segment offers various BPS, appeals, and assessments for state, provincial, and national government programs, including Medicaid, Children's Health Insurance Program, Affordable Care Act, Health Insurance British Columbia, Health Assessment Advisory Service contract, and Preadmission Screening and Resident Reviews.
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