Principal Financial Group Inc. Has $82.21 Million Stock Holdings in Select Medical Holdings Co. (NYSE:SEM)

Principal Financial Group Inc. grew its stake in Select Medical Holdings Co. (NYSE:SEM - Free Report) by 6.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,357,823 shares of the health services provider's stock after acquiring an additional 147,032 shares during the quarter. Principal Financial Group Inc. owned 1.81% of Select Medical worth $82,208,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Hexagon Capital Partners LLC grew its stake in Select Medical by 528.7% in the second quarter. Hexagon Capital Partners LLC now owns 767 shares of the health services provider's stock valued at $27,000 after acquiring an additional 645 shares during the period. Transcendent Capital Group LLC bought a new position in shares of Select Medical during the 2nd quarter valued at about $35,000. Canada Pension Plan Investment Board bought a new stake in Select Medical during the 2nd quarter worth approximately $39,000. DekaBank Deutsche Girozentrale acquired a new stake in Select Medical during the 2nd quarter worth approximately $60,000. Finally, GAMMA Investing LLC lifted its stake in Select Medical by 52.8% in the second quarter. GAMMA Investing LLC now owns 1,983 shares of the health services provider's stock valued at $70,000 after buying an additional 685 shares in the last quarter. 89.48% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SEM has been the topic of several research reports. Benchmark reaffirmed a "buy" rating and issued a $48.00 price objective on shares of Select Medical in a research report on Friday, November 1st. Bank of America started coverage on Select Medical in a report on Tuesday, August 20th. They issued a "buy" rating and a $42.00 price target on the stock. StockNews.com downgraded Select Medical from a "buy" rating to a "hold" rating in a report on Tuesday, November 5th. Finally, Royal Bank of Canada lifted their target price on Select Medical from $40.00 to $47.00 and gave the company an "outperform" rating in a research report on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $40.75.

Select Medical Stock Up 1.8 %

Shares of Select Medical stock traded up $0.70 during trading hours on Friday, reaching $39.27. 704,783 shares of the company's stock were exchanged, compared to its average volume of 593,879. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.37. The company has a 50 day moving average of $34.48 and a two-hundred day moving average of $34.44. The stock has a market cap of $5.08 billion, a P/E ratio of 18.35, a P/E/G ratio of 2.04 and a beta of 1.42. Select Medical Holdings Co. has a fifty-two week low of $21.56 and a fifty-two week high of $40.50.

Select Medical (NYSE:SEM - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The health services provider reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.07. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.74 billion. Select Medical had a return on equity of 15.99% and a net margin of 3.97%. The business's quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.46 EPS. On average, sell-side analysts forecast that Select Medical Holdings Co. will post 2.16 EPS for the current fiscal year.

Select Medical Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Wednesday, November 13th will be issued a $0.125 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.27%. Select Medical's payout ratio is 23.36%.

About Select Medical

Select Medical Holdings Corporation, through its subsidiaries, operates critical illness recovery hospitals, rehabilitation hospitals, outpatient rehabilitation clinics, and occupational health centers in the United States. It operates in four segments: Critical Illness Recovery Hospital, Rehabilitation Hospital, Outpatient Rehabilitation, and Concentra.