PNC Financial Services Group Inc. Increases Stake in Strategic Education, Inc. (NASDAQ:STRA)

PNC Financial Services Group Inc. raised its stake in shares of Strategic Education, Inc. (NASDAQ:STRA) by 6.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,009 shares of the health services provider’s stock after buying an additional 191 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Strategic Education were worth $281,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in STRA. Wilmington Savings Fund Society FSB purchased a new position in Strategic Education during the 3rd quarter valued at about $37,000. R Squared Ltd purchased a new position in Strategic Education during the 4th quarter valued at about $42,000. Smartleaf Asset Management LLC grew its holdings in Strategic Education by 394.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 480 shares of the health services provider’s stock valued at $44,000 after buying an additional 383 shares in the last quarter. Pacer Advisors Inc. purchased a new position in Strategic Education during the 4th quarter valued at about $96,000. Finally, KBC Group NV grew its holdings in Strategic Education by 53.3% during the 4th quarter. KBC Group NV now owns 1,044 shares of the health services provider’s stock valued at $98,000 after buying an additional 363 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Strategic Education Price Performance

NASDAQ:STRA opened at $82.37 on Friday. The business has a 50 day moving average of $92.85 and a 200 day moving average of $93.16. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of 15.69, a PEG ratio of 1.22 and a beta of 0.59. Strategic Education, Inc. has a 1-year low of $78.43 and a 1-year high of $123.62.

Strategic Education (NASDAQ:STRA) last released its earnings results on Thursday, February 27th. The health services provider reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.10). The firm had revenue of $311.46 million during the quarter, compared to the consensus estimate of $315.18 million. Strategic Education had a return on equity of 7.61% and a net margin of 10.44%. As a group, sell-side analysts anticipate that Strategic Education, Inc. will post 4.79 EPS for the current year.

Strategic Education Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were given a $0.60 dividend. The ex-dividend date was Monday, March 10th. This represents a $2.40 dividend on an annualized basis and a yield of 2.91%. Strategic Education’s payout ratio is 51.39%.

Insider Buying and Selling

In other Strategic Education news, General Counsel Lizette Benedi Herraiz sold 1,452 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $82.21, for a total value of $119,368.92. Following the completion of the sale, the general counsel now owns 61,716 shares in the company, valued at approximately $5,073,672.36. The trade was a 2.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael A. Mcrobbie acquired 600 shares of the stock in a transaction on Monday, March 10th. The stock was bought at an average price of $81.80 per share, with a total value of $49,080.00. Following the transaction, the director now directly owns 6,135 shares of the company’s stock, valued at approximately $501,843. The trade was a 10.84 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 39,332 shares of company stock worth $3,825,169 in the last quarter. 3.30% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on STRA shares. StockNews.com downgraded Strategic Education from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Barrington Research dropped their price target on Strategic Education from $135.00 to $120.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Finally, BMO Capital Markets dropped their price target on Strategic Education from $114.00 to $97.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd.

About Strategic Education

Strategic Education, Inc, through its subsidiaries, provides education services through campus-based and online post-secondary education, and programs to develop job-ready skills. The company operates through U.S. Higher Education, Australia/New Zealand, and Education Technology Services segments. It operates Strayer University that offers undergraduate and graduate degree programs in business, criminal justice, education, health services, information technology, and public administration at physical campuses located in the eastern United States, as well as through online; non-degree web and mobile application development courses through Hackbright Academy and Devmountain; and MBA online through its Jack Welch Management Institute.