PNC Financial Services Group Inc. reduced its stake in shares of Booz Allen Hamilton Holding Corporation (NYSE:BAH – Free Report) by 22.4% during the 1st quarter, HoldingsChannel reports. The fund owned 51,677 shares of the business services provider’s stock after selling 14,880 shares during the period. PNC Financial Services Group Inc.’s holdings in Booz Allen Hamilton were worth $4,032,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the stock. Primecap Management Co. CA raised its holdings in shares of Booz Allen Hamilton by 135.2% during the fourth quarter. Primecap Management Co. CA now owns 4,666,298 shares of the business services provider’s stock worth $393,649,000 after acquiring an additional 2,682,460 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its position in Booz Allen Hamilton by 38.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,528,226 shares of the business services provider’s stock worth $550,722,000 after purchasing an additional 1,811,906 shares during the last quarter. Norges Bank acquired a new position in Booz Allen Hamilton in the 4th quarter worth about $143,749,000. State Street Corp increased its position in Booz Allen Hamilton by 53.2% in the 4th quarter. State Street Corp now owns 4,402,897 shares of the business services provider’s stock worth $371,428,000 after purchasing an additional 1,528,739 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Booz Allen Hamilton by 36.0% during the 4th quarter. First Trust Advisors LP now owns 4,856,528 shares of the business services provider’s stock worth $409,697,000 after purchasing an additional 1,285,475 shares in the last quarter. 91.82% of the stock is owned by institutional investors and hedge funds.
Booz Allen Hamilton Price Performance
NYSE BAH opened at $71.91 on Tuesday. Booz Allen Hamilton Holding Corporation has a fifty-two week low of $59.50 and a fifty-two week high of $114.48. The stock’s 50-day moving average is $70.31 and its two-hundred day moving average is $78.08. The firm has a market cap of $8.61 billion, a P/E ratio of 11.31, a price-to-earnings-growth ratio of 3.81 and a beta of 0.36. The company has a debt-to-equity ratio of 3.26, a current ratio of 1.60 and a quick ratio of 1.78.
Booz Allen Hamilton Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 3.3%. The ex-dividend date is Friday, August 14th. Booz Allen Hamilton’s payout ratio is 37.11%.
Analysts Set New Price Targets
Several brokerages have recently issued reports on BAH. Bank of America reduced their price target on Booz Allen Hamilton from $90.00 to $75.00 and set an “underperform” rating for the company in a report on Monday, July 20th. Wells Fargo & Company began coverage on shares of Booz Allen Hamilton in a research report on Wednesday, April 1st. They set an “equal weight” rating and a $85.00 price objective on the stock. Jefferies Financial Group set a $85.00 price objective on shares of Booz Allen Hamilton in a research report on Monday, May 11th. TD Cowen reduced their target price on shares of Booz Allen Hamilton from $85.00 to $70.00 and set a “hold” rating for the company in a research note on Tuesday, July 7th. Finally, Citigroup decreased their target price on shares of Booz Allen Hamilton from $88.00 to $69.00 and set a “neutral” rating for the company in a research report on Wednesday, July 1st. Three research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Booz Allen Hamilton currently has an average rating of “Reduce” and a consensus price target of $84.08.
Check Out Our Latest Stock Report on Booz Allen Hamilton
About Booz Allen Hamilton
Booz Allen Hamilton Holding Corporation is a publicly traded management and technology consulting firm headquartered in McLean, Virginia. The company provides a wide range of professional services and solutions in strategy, analytics, digital transformation, engineering and cyber security. Its expertise spans from supporting federal civilian agencies to defense, intelligence and homeland security organizations, as well as select commercial industries.
Key offerings include data analytics and artificial intelligence applications, software development and modernization, systems integration, and cyber risk management.
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