The Manufacturers Life Insurance Company Lowers Position in Boyd Group Services Inc. $BGSI

The Manufacturers Life Insurance Company lessened its holdings in shares of Boyd Group Services Inc. (NYSE:BGSI) by 3.9% in the first quarter, HoldingsChannel.com reports. The fund owned 262,456 shares of the company’s stock after selling 10,511 shares during the period. The Manufacturers Life Insurance Company’s holdings in Boyd Group Services were worth $33,475,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Assetmark Inc. increased its position in shares of Boyd Group Services by 23.5% in the first quarter. Assetmark Inc. now owns 457 shares of the company’s stock worth $58,000 after purchasing an additional 87 shares during the last quarter. Public Sector Pension Investment Board bought a new stake in Boyd Group Services during the fourth quarter valued at approximately $262,000. Susquehanna Portfolio Strategies LLC purchased a new position in Boyd Group Services in the 4th quarter worth approximately $287,000. Invesco Ltd. bought a new position in shares of Boyd Group Services in the 4th quarter worth $318,000. Finally, Deutsche Bank AG purchased a new stake in shares of Boyd Group Services during the 4th quarter valued at $373,000. Hedge funds and other institutional investors own 0.17% of the company’s stock.

Boyd Group Services Price Performance

Shares of NYSE BGSI opened at $103.55 on Friday. The company has a market capitalization of $2.88 billion, a PE ratio of 156.90 and a beta of 0.76. Boyd Group Services Inc. has a one year low of $88.97 and a one year high of $183.10. The company’s 50 day simple moving average is $99.91. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.60 and a quick ratio of 0.46.

Boyd Group Services (NYSE:BGSI) last announced its quarterly earnings data on Wednesday, May 13th. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. Boyd Group Services had a net margin of 0.39% and a return on equity of 4.90%. As a group, equities analysts expect that Boyd Group Services Inc. will post 3.85 earnings per share for the current fiscal year.

Boyd Group Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 29th. Investors of record on Tuesday, June 30th were given a $0.156 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Tuesday, June 30th. Boyd Group Services’s dividend payout ratio (DPR) is presently 66.67%.

Analysts Set New Price Targets

Several research analysts recently issued reports on BGSI shares. Wall Street Zen lowered shares of Boyd Group Services from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Weiss Ratings restated a “sell (d)” rating on shares of Boyd Group Services in a research report on Wednesday, June 24th. Zacks Research raised Boyd Group Services from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Finally, Stephens dropped their price target on Boyd Group Services from $200.00 to $157.00 and set an “overweight” rating for the company in a research note on Tuesday, April 14th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Boyd Group Services has an average rating of “Moderate Buy” and a consensus target price of $157.00.

Boyd Group Services Company Profile

Boyd Group Services Inc is a North American operator of collision repair centers that provides vehicle repair, paint and refinishing, and auto glass replacement services. Its locations perform mechanical and cosmetic collision repairs, parts sourcing, and related warranty work, serving retail customers as well as business clients such as insurers and fleet operators. The company’s operations typically include estimating, repair planning, paint and body work, and post-repair quality assurance and customer service.

Headquartered in Winnipeg, Manitoba, Canada, Boyd Group Services operates across both Canada and the United States through a network of company-owned collision repair facilities under various local and regional brand names.