Lord Abbett & CO. LLC Has $24.18 Million Stock Holdings in Maximus, Inc. (NYSE:MMS)

Lord Abbett & CO. LLC reduced its holdings in Maximus, Inc. (NYSE:MMS) by 1.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 259,567 shares of the health services provider’s stock after selling 2,663 shares during the period. Lord Abbett & CO. LLC’s holdings in Maximus were worth $24,181,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Assenagon Asset Management S.A. grew its stake in shares of Maximus by 277.0% in the third quarter. Assenagon Asset Management S.A. now owns 878,894 shares of the health services provider’s stock worth $81,878,000 after acquiring an additional 645,760 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in Maximus by 942.9% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 323,300 shares of the health services provider’s stock worth $27,707,000 after purchasing an additional 292,300 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Maximus by 150.4% during the 2nd quarter. Millennium Management LLC now owns 406,075 shares of the health services provider’s stock worth $34,801,000 after purchasing an additional 243,890 shares during the period. Sio Capital Management LLC acquired a new position in shares of Maximus during the third quarter valued at about $14,453,000. Finally, Algert Global LLC bought a new stake in shares of Maximus in the second quarter valued at about $12,424,000. 97.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Maximus from a “buy” rating to a “hold” rating in a report on Thursday, November 28th.

Maximus Stock Down 1.3 %

Shares of MMS stock opened at $69.81 on Monday. The stock has a market cap of $4.21 billion, a P/E ratio of 13.96 and a beta of 0.73. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.49 and a quick ratio of 1.49. The stock has a fifty day moving average price of $82.58 and a 200 day moving average price of $86.62. Maximus, Inc. has a one year low of $69.72 and a one year high of $93.97.

Maximus Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, November 30th. Stockholders of record on Friday, November 15th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date of this dividend was Friday, November 15th. Maximus’s payout ratio is 24.00%.

Insider Activity

In related news, Director Raymond B. Ruddy purchased 3,490 shares of the stock in a transaction on Thursday, December 12th. The shares were purchased at an average cost of $71.46 per share, for a total transaction of $249,395.40. Following the completion of the transaction, the director now directly owns 112,520 shares of the company’s stock, valued at approximately $8,040,679.20. The trade was a 3.20 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michelle F. Link sold 1,363 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $92.56, for a total value of $126,159.28. Following the transaction, the insider now owns 6,567 shares of the company’s stock, valued at $607,841.52. This represents a 17.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.

About Maximus

Maximus, Inc operates as a provider of government services in the United States and internationally. It operates through three segments: U.S. Federal Services, U.S. Services, and Outside the U.S. The U.S. Services segment offers program eligibility support and enrollment; centralized multilingual customer contact centers, multichannel, and digital self-service options for enrollment; application assistance and independent health plan choice counseling; beneficiary outreach, education, eligibility, enrollment, and redeterminations; and person-centered independent disability, long-term sick, and other health assessments.