Franklin Resources Inc. Trims Position in Maximus, Inc. (NYSE:MMS)

Franklin Resources Inc. reduced its stake in Maximus, Inc. (NYSE:MMS - Free Report) by 92.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,072 shares of the health services provider's stock after selling 65,795 shares during the quarter. Franklin Resources Inc.'s holdings in Maximus were worth $461,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Assenagon Asset Management S.A. increased its holdings in Maximus by 277.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 878,894 shares of the health services provider's stock worth $81,878,000 after acquiring an additional 645,760 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Maximus by 942.9% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 323,300 shares of the health services provider's stock valued at $27,707,000 after buying an additional 292,300 shares in the last quarter. Millennium Management LLC lifted its position in shares of Maximus by 150.4% during the second quarter. Millennium Management LLC now owns 406,075 shares of the health services provider's stock worth $34,801,000 after acquiring an additional 243,890 shares in the last quarter. Sio Capital Management LLC purchased a new position in shares of Maximus in the third quarter valued at $14,453,000. Finally, Algert Global LLC purchased a new stake in Maximus during the 2nd quarter worth about $12,424,000. 97.21% of the stock is owned by hedge funds and other institutional investors.

Maximus Price Performance

Shares of MMS traded up $0.42 during trading hours on Wednesday, reaching $74.65. 565,822 shares of the company's stock traded hands, compared to its average volume of 451,640. The stock has a market cap of $4.50 billion, a PE ratio of 14.93 and a beta of 0.73. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.59. Maximus, Inc. has a 12 month low of $69.72 and a 12 month high of $93.97. The firm's 50 day simple moving average is $78.43 and its 200-day simple moving average is $85.48.

Maximus Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Saturday, November 30th. Investors of record on Friday, November 15th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.61%. The ex-dividend date was Friday, November 15th. Maximus's payout ratio is 24.00%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Maximus from a "buy" rating to a "hold" rating in a report on Friday, December 27th.

Insider Buying and Selling at Maximus

In other news, Director Raymond B. Ruddy purchased 3,490 shares of the company's stock in a transaction that occurred on Thursday, December 12th. The shares were bought at an average cost of $71.46 per share, for a total transaction of $249,395.40. Following the completion of the transaction, the director now directly owns 112,520 shares of the company's stock, valued at $8,040,679.20. This trade represents a 3.20 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Bruce Caswell bought 3,500 shares of the business's stock in a transaction dated Tuesday, December 17th. The stock was bought at an average cost of $70.64 per share, for a total transaction of $247,240.00. Following the completion of the purchase, the chief executive officer now owns 275,929 shares of the company's stock, valued at approximately $19,491,624.56. The trade was a 1.28 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 7,063 shares of company stock valued at $502,017 in the last quarter. Company insiders own 1.40% of the company's stock.

About Maximus

Maximus, Inc operates as a provider of government services in the United States and internationally. It operates through three segments: U.S. Federal Services, U.S. Services, and Outside the U.S. The U.S. Services segment offers program eligibility support and enrollment; centralized multilingual customer contact centers, multichannel, and digital self-service options for enrollment; application assistance and independent health plan choice counseling; beneficiary outreach, education, eligibility, enrollment, and redeterminations; and person-centered independent disability, long-term sick, and other health assessments.