Fred Alger Management LLC Decreases Stock Holdings in U.S. Physical Therapy, Inc. (NYSE:USPH)

Fred Alger Management LLC reduced its position in shares of U.S. Physical Therapy, Inc. (NYSE:USPH – Get Rating) by 31.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 271,899 shares of the company’s stock after selling 123,111 shares during the period. Fred Alger Management LLC owned about 2.09% of U.S. Physical Therapy worth $20,670,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. raised its stake in U.S. Physical Therapy by 1.1% during the 1st quarter. BlackRock Inc. now owns 2,076,064 shares of the company’s stock worth $206,466,000 after acquiring an additional 22,653 shares in the last quarter. Vanguard Group Inc. raised its stake in U.S. Physical Therapy by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 927,480 shares of the company’s stock worth $92,238,000 after acquiring an additional 10,015 shares in the last quarter. Eaton Vance Management raised its stake in U.S. Physical Therapy by 1.9% during the 3rd quarter. Eaton Vance Management now owns 567,390 shares of the company’s stock worth $43,133,000 after acquiring an additional 10,557 shares in the last quarter. Boston Trust Walden Corp raised its stake in U.S. Physical Therapy by 12.1% during the 3rd quarter. Boston Trust Walden Corp now owns 509,446 shares of the company’s stock worth $38,728,000 after acquiring an additional 54,956 shares in the last quarter. Finally, State Street Corp raised its stake in U.S. Physical Therapy by 2.9% during the 3rd quarter. State Street Corp now owns 475,654 shares of the company’s stock worth $36,159,000 after acquiring an additional 13,257 shares in the last quarter. 98.44% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at U.S. Physical Therapy

In other news, Director Harry S. Chapman sold 3,000 shares of the business’s stock in a transaction dated Thursday, December 15th. The shares were sold at an average price of $86.00, for a total transaction of $258,000.00. Following the transaction, the director now directly owns 10,900 shares in the company, valued at $937,400. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Harry S. Chapman sold 3,000 shares of the business’s stock in a transaction dated Thursday, December 15th. The shares were sold at an average price of $86.00, for a total transaction of $258,000.00. Following the transaction, the director now directly owns 10,900 shares in the company, valued at $937,400. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Richard Binstein sold 911 shares of the business’s stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $100.78, for a total transaction of $91,810.58. Following the sale, the executive vice president now directly owns 9,906 shares in the company, valued at approximately $998,326.68. The disclosure for this sale can be found here. Insiders have sold a total of 7,343 shares of company stock worth $697,731 over the last ninety days. 1.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on USPH shares. Barrington Research lifted their price target on shares of U.S. Physical Therapy from $107.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, February 24th. StockNews.com lowered shares of U.S. Physical Therapy from a “hold” rating to a “sell” rating in a research note on Friday, February 24th.

U.S. Physical Therapy Trading Down 1.5 %

NYSE USPH opened at $94.41 on Wednesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.30 and a current ratio of 1.30. The firm has a market cap of $1.23 billion, a PE ratio of 42.61, a P/E/G ratio of 3.61 and a beta of 1.34. U.S. Physical Therapy, Inc. has a one year low of $73.30 and a one year high of $131.50. The firm’s fifty day moving average is $95.53 and its two-hundred day moving average is $86.93.

U.S. Physical Therapy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 7th. Stockholders of record on Friday, March 10th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.82%. This is a positive change from U.S. Physical Therapy’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Thursday, March 9th. U.S. Physical Therapy’s payout ratio is 76.44%.

U.S. Physical Therapy Profile

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U.S. Physical Therapy, Inc operates outpatient physical therapy clinics, which provides pre-and post-operative care and treatment for orthopedic-related disorders, sports-related injuries, preventative care, rehabilitation of injured workers and neurological-related injuries. It operates through the following segments: physical therapy operations and industrial injury prevention services.