Citizens Financial Group Inc. has reduced its stake in HCA Healthcare, Inc. by 4.6% during the second quarter of 2023, according to a recent 13F filing with the Securities and Exchange Commission (SEC). The financial institution now holds 62,028 shares, valued at approximately $23.76 million, after selling 2,962 shares in the quarter.
Other institutional investors have also adjusted their positions in HCA Healthcare. Cheviot Value Management LLC and Saudi Central Bank each established new positions in the first quarter, valued at about $26,000. Similarly, WPG Advisers LLC and Ameriflex Group Inc. acquired new stakes in the company, each worth around $27,000. Currently, institutional investors own 62.73% of HCA Healthcare’s stock.
Stock Performance and Dividend Announcement
HCA Healthcare’s stock experienced a slight decline of 0.2%, opening at $472.40 on the New York Stock Exchange. The company has a fifty-day simple moving average of $433.56 and a two-hundred-day average of $396.45. Over the past year, shares have ranged from a low of $289.98 to a high of $480.00. HCA Healthcare boasts a market capitalization of $107.80 billion, with a price-to-earnings ratio of 18.26 and a PEG ratio of 1.38.
In addition to stock performance, HCA Healthcare has declared a quarterly dividend of $0.72, set to be paid on December 29, 2023. Investors on record as of December 15 will receive this dividend, representing an annualized total of $2.88 and a yield of 0.6%. The company’s dividend payout ratio currently stands at 11.13%.
Analyst Ratings and Insider Transactions
Recent analyst reports reflect a positive outlook for HCA Healthcare. Wall Street Zen upgraded the company from a “buy” to a “strong-buy” rating in a report dated October 25, 2023. JPMorgan Chase & Co. raised its price target from $360.00 to $370.00, maintaining a “neutral” rating. Other firms, including Robert W. Baird and Wells Fargo & Company, have also increased their price targets, with the latter now projecting a target of $431.00.
Overall, HCA Healthcare has received one “Strong Buy” rating, fourteen “Buy” ratings, and ten “Hold” ratings, leading to an average rating of “Moderate Buy” with a target price of $474.53, according to MarketBeat.com.
In terms of insider transactions, Executive Vice President Michael S. Cuffe sold 3,836 shares on September 8, 2023, at an average price of $418.84, totaling approximately $1.61 million. Following this transaction, Cuffe retained 31,503 shares valued at around $13.19 million. Moreover, Michael R. Mcalevey, another Executive Vice President, sold 3,892 shares on November 5, 2023, for a total of approximately $1.84 million.
Corporate insiders currently own 1.30% of HCA Healthcare’s stock, reflecting a modest level of insider ownership amid significant institutional investment.
HCA Healthcare, Inc. operates a network of hospitals and healthcare facilities across the United States, providing essential medical and surgical services, including inpatient care, emergency services, and outpatient treatments. As the healthcare sector continues to evolve, the actions of major institutional investors like Citizens Financial Group Inc. signal ongoing interest and investment in HCA Healthcare’s prospects.
