Prudential Financial Inc. lowered its position in The Providence Service Co. (NASDAQ:PRSC) by 18.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 110,745 shares of the company’s stock after selling 25,096 shares during the period. Prudential Financial Inc. owned approximately 0.86% of The Providence Service worth $7,451,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in The Providence Service by 4.7% in the 2nd quarter. BlackRock Inc. now owns 1,675,549 shares of the company’s stock valued at $131,615,000 after buying an additional 75,923 shares in the last quarter. TD Asset Management Inc. purchased a new stake in The Providence Service in the 2nd quarter valued at approximately $5,451,000. Chicago Equity Partners LLC purchased a new stake in The Providence Service in the 2nd quarter valued at approximately $3,454,000. Renaissance Technologies LLC lifted its stake in The Providence Service by 2.9% in the 2nd quarter. Renaissance Technologies LLC now owns 1,033,208 shares of the company’s stock valued at $81,158,000 after buying an additional 29,308 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in The Providence Service by 3,061.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 27,187 shares of the company’s stock valued at $2,136,000 after buying an additional 26,327 shares in the last quarter. Institutional investors and hedge funds own 97.17% of the company’s stock.
A number of equities research analysts recently issued reports on PRSC shares. BidaskClub raised The Providence Service from a “sell” rating to a “hold” rating in a research note on Saturday, October 6th. ValuEngine lowered The Providence Service from a “buy” rating to a “hold” rating in a research note on Friday, November 2nd.
PRSC stock opened at $67.74 on Friday. The Providence Service Co. has a 1 year low of $55.69 and a 1 year high of $83.90. The company has a market capitalization of $883.84 million, a P/E ratio of 33.66 and a beta of 0.67.
The Providence Service (NASDAQ:PRSC) last issued its quarterly earnings results on Wednesday, November 7th. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.30. The Providence Service had a return on equity of 8.71% and a net margin of 1.80%. The company had revenue of $421.32 million for the quarter, compared to analyst estimates of $404.90 million. During the same quarter in the prior year, the company posted $0.32 EPS. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year.
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About The Providence Service
The Providence Service Corporation, through its subsidiaries, provides healthcare and workforce development services in the United States and internationally. It operates in two segments, Non-Emergency Transportation Services (NET Services) and Workforce Development Services (WD Services). The NET Services segment offers non-emergency medical transportation services for Medicaid or Medicare eligible members, whose limited mobility or financial resources hinder their ability to access necessary healthcare and social services.
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