Principal Financial Group Inc. Grows Holdings in Addus HomeCare Co. (NASDAQ:ADUS)

Principal Financial Group Inc. raised its stake in shares of Addus HomeCare Co. (NASDAQ:ADUS - Free Report) by 17.5% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 505,853 shares of the company's stock after purchasing an additional 75,409 shares during the period. Principal Financial Group Inc. owned approximately 2.80% of Addus HomeCare worth $67,293,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. UMB Bank n.a. raised its holdings in shares of Addus HomeCare by 64.2% in the second quarter. UMB Bank n.a. now owns 225 shares of the company's stock valued at $26,000 after purchasing an additional 88 shares during the last quarter. Quest Partners LLC bought a new stake in Addus HomeCare in the 2nd quarter worth about $31,000. Farther Finance Advisors LLC increased its stake in Addus HomeCare by 9,150.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 370 shares of the company's stock valued at $49,000 after buying an additional 366 shares during the last quarter. Innealta Capital LLC bought a new position in shares of Addus HomeCare during the 2nd quarter worth approximately $44,000. Finally, EntryPoint Capital LLC purchased a new position in shares of Addus HomeCare in the 1st quarter worth approximately $44,000. 95.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ADUS shares. TD Cowen increased their price target on Addus HomeCare from $128.00 to $137.00 and gave the company a "buy" rating in a research report on Thursday, August 8th. KeyCorp initiated coverage on Addus HomeCare in a research report on Friday, October 11th. They set an "overweight" rating and a $150.00 target price for the company. Stephens increased their price target on shares of Addus HomeCare from $143.00 to $145.00 and gave the company an "overweight" rating in a research report on Wednesday. Macquarie restated an "outperform" rating and set a $139.00 price objective on shares of Addus HomeCare in a report on Monday, November 4th. Finally, Oppenheimer lifted their price objective on shares of Addus HomeCare from $140.00 to $145.00 and gave the stock an "outperform" rating in a research report on Monday, September 23rd. One investment analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $131.63.

Addus HomeCare Price Performance

Shares of ADUS traded down $1.50 during trading hours on Friday, hitting $127.58. The company's stock had a trading volume of 140,597 shares, compared to its average volume of 126,492. The business has a 50 day simple moving average of $129.60 and a two-hundred day simple moving average of $121.58. Addus HomeCare Co. has a 52-week low of $81.51 and a 52-week high of $136.12. The company has a market cap of $2.31 billion, a price-to-earnings ratio of 29.19, a PEG ratio of 2.30 and a beta of 1.04.

Addus HomeCare (NASDAQ:ADUS - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported $1.30 earnings per share for the quarter, beating analysts' consensus estimates of $1.28 by $0.02. The business had revenue of $289.80 million during the quarter, compared to analyst estimates of $289.42 million. Addus HomeCare had a net margin of 6.50% and a return on equity of 9.62%. Addus HomeCare's revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.03 EPS. Research analysts predict that Addus HomeCare Co. will post 4.57 earnings per share for the current year.

Insider Activity

In other news, EVP Michael D. Wattenbarger sold 21,917 shares of the company's stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $133.29, for a total transaction of $2,921,316.93. Following the sale, the executive vice president now directly owns 7,215 shares in the company, valued at $961,687.35. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other Addus HomeCare news, EVP Michael D. Wattenbarger sold 21,917 shares of the firm's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $133.29, for a total value of $2,921,316.93. Following the completion of the transaction, the executive vice president now directly owns 7,215 shares of the company's stock, valued at $961,687.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Esteban Lopez sold 500 shares of the business's stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $127.50, for a total transaction of $63,750.00. Following the transaction, the director now owns 3,366 shares of the company's stock, valued at $429,165. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,917 shares of company stock worth $3,050,082. 4.60% of the stock is owned by corporate insiders.

Addus HomeCare Profile

Addus HomeCare Corporation, together with its subsidiaries, provides personal care services to elderly, chronically ill, disabled persons, and individuals who are at risk of hospitalization or institutionalization in the United States. The company operates through three segments: Personal Care, Hospice, and Home Health.