Principal Financial Group Inc. Boosts Stake in Maximus Inc. (MMS)
Principal Financial Group Inc. increased its stake in Maximus Inc. (NYSE:MMS) by 13.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 242,181 shares of the company’s stock after buying an additional 28,438 shares during the period. Principal Financial Group Inc. owned approximately 0.37% of Maximus worth $13,409,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Goldman Sachs Group Inc. increased its position in Maximus by 67.5% in the first quarter. Goldman Sachs Group Inc. now owns 1,211,350 shares of the company’s stock worth $63,765,000 after buying an additional 488,027 shares during the last quarter. Makaira Partners LLC acquired a new position in Maximus during the first quarter worth about $23,251,000. Emerald Acquisition Ltd. acquired a new position in Maximus during the second quarter worth about $21,558,000. Ameriprise Financial Inc. increased its position in Maximus by 106.3% in the second quarter. Ameriprise Financial Inc. now owns 617,276 shares of the company’s stock worth $34,174,000 after buying an additional 318,033 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in Maximus by 38.7% in the second quarter. Victory Capital Management Inc. now owns 960,100 shares of the company’s stock worth $53,160,000 after buying an additional 268,000 shares during the last quarter. Institutional investors and hedge funds own 99.00% of the company’s stock.
Shares of Maximus Inc. (NYSE:MMS) opened at 54.60 on Monday. The company has a market capitalization of $3.54 billion, a PE ratio of 22.31 and a beta of 1.15. Maximus Inc. has a 1-year low of $45.15 and a 1-year high of $69.85. The company’s 50-day moving average price is $57.40 and its 200-day moving average price is $55.79.
Maximus (NYSE:MMS) last released its earnings results on Thursday, August 4th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.04. Maximus had a return on equity of 23.89% and a net margin of 6.91%. The firm had revenue of $617.10 million for the quarter, compared to analysts’ expectations of $625.62 million. During the same quarter in the previous year, the business posted $0.62 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities analysts expect that Maximus Inc. will post $2.65 earnings per share for the current fiscal year.
A number of research analysts have issued reports on MMS shares. Zacks Investment Research downgraded shares of Maximus from a “hold” rating to a “sell” rating in a research report on Wednesday, August 3rd. KeyCorp started coverage on shares of Maximus in a research report on Thursday, June 30th. They set an “overweight” rating and a $63.00 target price on the stock. Finally, Maxim Group upped their target price on shares of Maximus from $71.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $63.00.
In other news, President Bruce Caswell sold 20,000 shares of Maximus stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $56.99, for a total transaction of $1,139,800.00. Following the sale, the president now directly owns 36,386 shares of the company’s stock, valued at $2,073,638.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Raymond B. Ruddy sold 18,000 shares of Maximus stock in a transaction dated Thursday, July 14th. The shares were sold at an average price of $60.00, for a total value of $1,080,000.00. Following the sale, the director now directly owns 295,552 shares in the company, valued at $17,733,120. The disclosure for this sale can be found here. 3.60% of the stock is owned by company insiders.
Maximus Company Profile
MAXIMUS, Inc provides business process services (BPS) to Government health and human services agencies. The Company is primarily focused on operating Government-sponsored programs, such as Medicaid, children’s health insurance program (CHIP), health insurance exchanges and other health care reform initiatives, Medicare, welfare-to-work, child support services and other Government programs.
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