Citigroup Inc., one of the world’s most prominent banking institutions, has recently increased their position in shares of Maximus, Inc. To be exact, Citigroup boosted their stake in the health services provider by an astounding 69.0% – a significant increase that had many investors raising their eyebrows. According to its most recent filing with the Securities & Exchange Commission, the fund owned 36,723 shares of Maximus’ stock after purchasing an additional 14,987 shares during the fourth quarter. This brings Citigroup’s ownership of MMS to approximately 0.06%, which is equivalent to $2,693,000 at the end of the most recent quarter.
Despite these impressive numbers from Citigroup and other notable investments in this stock by major players across various industries, equities analysts have expressed mixed opinions regarding MMS. StockNews.com issued a “buy” rating for Maximus back in May, while Raymond James raised their target price on shares of MMS from $80.00 to $100.00 and provided an “outperform” rating back in February.
As far as current stock movement goes, NYSE MMS opened at $80.77 on Wednesday and has been showing positive progress ever since then. Although its 50-day simple moving average is only slightly higher at $79.98 and its 200-day simple moving average sits at around $75.83 (both still within a reasonable range for a company as successful as this), Maximus boasts both a 52-week low and high that investors should take note of: $54.46 and $85.25 respectively.
All things considered, it seems like MMS remains a potential contender in today’s market given the criteria outlined above – but again – analysts continue to express varying degrees of confidence or uncertainty about this particular opportunity for investment growth moving forward.
In terms of comparing stocks across different health services providers in the same sector as MMS, one must keep in mind its current market capitalization of $4.91 billion, P/E ratio of 28.74, and beta of 0.69. Looking through these metrics can often help investors decide if a particular company’s stock is a good fit for their overall portfolio characteristic or investment strategy.
As more updates come in about Maximus’ performance and progress within the healthcare industry as well as its ability to continue growth in the long term future, we can expect an even greater amount of interest from potential investors around the globe – especially in light of the recent shift towards digital transformation across virtually every sector of our mod world economy.
Maximus Inc. Attracts Institutional Investment as Revenue Grows
Maximus, Inc., a provider of health and human services for governments across the globe, has seen a rise in institutional investment in recent weeks. HighTower Advisors LLC made a new addition to its stake, valued at roughly $966,000 in February. This was followed by additional investments from Raymond James & Associates and UBS Group AG into the tune of $2,875,000 and $2,252,000 respectively. Orion Portfolio Solutions LLC also joined in on the action with an investment worth about $539,000. The most significant increase came from Thrivent Financial for Lutherans who raised its stake by 1,722.6% to own 638,291 shares of Maximus stock totaling $46,806,000.
These investments show that Maximus is gaining traction amongst institutional investors as it continues to grow its revenue according to the health services provider’s latest earnings report. In May 2017 Maximus reported a net margin of 3.62% and return on equity of 15.37%, both healthy figures. The company also posted earnings per share of $0.80 beating consensus estimates by $0.02 and showing an increase from its prior year first quarter earnings per share of $1.07.
Insiders at Maximus have also been adjusting their stock holdings recently with Michelle F. Link selling just under 2,000 shares at an average price of $79.53 each for a total value exceeding $156k.
Analysts have taken note of recent developments at Maximus with StockNews.com giving the company a “buy” rating while Raymond James boosted its target price on the stock from $80 to $100 with an “outperform” rating.
Investors interested in buying into Maximus may want to act quickly as the firm declared a quarterly dividend on May 31st which was issued to investors registered before May 15th at a rate of $0.28 per share, yielding 1.39% annually. The dividend payout ratio stands at approximately 40%, indicating a solid financial position for Maximus going forward.
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