Corebridge Financial Inc. Cuts Stock Position in Encompass Health Co. (NYSE:EHC)

Corebridge Financial Inc. reduced its stake in Encompass Health Co. (NYSE:EHC) by 4.2% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 113,989 shares of the company’s stock after selling 4,992 shares during the quarter. Corebridge Financial Inc. owned 0.11% of Encompass Health worth $10,527,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new position in shares of Encompass Health in the fourth quarter worth $77,944,000. Point72 Asset Management L.P. boosted its stake in Encompass Health by 2,458.5% during the third quarter. Point72 Asset Management L.P. now owns 869,104 shares of the company’s stock valued at $83,990,000 after buying an additional 835,135 shares during the period. Jennison Associates LLC bought a new position in Encompass Health in the 4th quarter worth about $52,094,000. abrdn plc bought a new position in shares of Encompass Health in the fourth quarter worth approximately $17,846,000. Finally, Vanguard Group Inc. raised its stake in Encompass Health by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 10,404,081 shares of the company’s stock valued at $960,817,000 after purchasing an additional 138,196 shares in the last quarter. Institutional investors own 97.25% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Andrew L. Price sold 5,042 shares of the company’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $98.29, for a total value of $495,578.18. Following the sale, the chief accounting officer now directly owns 69,164 shares of the company’s stock, valued at $6,798,129.56. This represents a 6.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. StockNews.com raised shares of Encompass Health from a “hold” rating to a “buy” rating in a report on Saturday, February 15th. Royal Bank of Canada reissued an “outperform” rating and issued a $110.00 target price on shares of Encompass Health in a research note on Tuesday, February 11th. William Blair reiterated an “outperform” rating on shares of Encompass Health in a report on Friday, February 7th. KeyCorp raised their price objective on Encompass Health from $117.00 to $120.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Finally, Barclays increased their price target on shares of Encompass Health from $116.00 to $118.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Ten research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $107.67.

Encompass Health Trading Down 0.5 %

EHC opened at $100.33 on Thursday. The firm has a market capitalization of $10.10 billion, a price-to-earnings ratio of 22.50, a PEG ratio of 2.31 and a beta of 0.92. Encompass Health Co. has a one year low of $77.09 and a one year high of $104.55. The business has a 50 day simple moving average of $98.42 and a two-hundred day simple moving average of $97.29. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.05 and a quick ratio of 1.04.

Encompass Health (NYSE:EHC) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.12. Encompass Health had a return on equity of 17.56% and a net margin of 8.48%. Analysts predict that Encompass Health Co. will post 4.8 EPS for the current year.

Encompass Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date is Tuesday, April 1st. Encompass Health’s payout ratio is currently 15.25%.

About Encompass Health

Encompass Health Corporation provides post-acute healthcare services in the United States and Puerto Rico. It owns and operates inpatient rehabilitation hospitals that provide medical, nursing, therapy, and ancillary services. The company provides specialized rehabilitative treatment on an inpatient basis to patients who have experienced physical or cognitive disabilities or injuries due to medical conditions, such as strokes, hip fractures, and various debilitating neurological conditions.