Whittier Trust Co. increased its stake in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 3.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 43,372 shares of the business services provider’s stock after buying an additional 1,286 shares during the period. Whittier Trust Co.’s holdings in Healthcare Services Group were worth $2,031,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in HCSG. American Capital Management Inc. raised its position in shares of Healthcare Services Group by 53.9% in the first quarter. American Capital Management Inc. now owns 327,914 shares of the business services provider’s stock valued at $14,130,000 after buying an additional 114,855 shares during the last quarter. UMB Bank N A MO acquired a new position in shares of Healthcare Services Group during the first quarter valued at $371,000. Nationwide Fund Advisors increased its position in shares of Healthcare Services Group by 5.0% in the first quarter. Nationwide Fund Advisors now owns 343,179 shares of the business services provider’s stock valued at $14,788,000 after buying an additional 16,359 shares during the period. State of Alaska Department of Revenue increased its position in shares of Healthcare Services Group by 2.3% in the first quarter. State of Alaska Department of Revenue now owns 8,070 shares of the business services provider’s stock valued at $347,000 after buying an additional 180 shares during the period. Finally, Everence Capital Management Inc. acquired a new position in shares of Healthcare Services Group during the first quarter valued at $213,000. 93.84% of the stock is owned by hedge funds and other institutional investors.
Shares of Healthcare Services Group, Inc. (NASDAQ HCSG) traded up 1.45% during trading on Friday, reaching $53.72. 457,029 shares of the company traded hands. The stock’s 50 day moving average is $48.44 and its 200 day moving average is $44.24. The company has a market capitalization of $3.94 billion, a price-to-earnings ratio of 47.12 and a beta of 0.60. Healthcare Services Group, Inc. has a 1-year low of $34.83 and a 1-year high of $53.87.
Healthcare Services Group (NASDAQ:HCSG) last issued its quarterly earnings data on Tuesday, July 11th. The business services provider reported $0.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.01. Healthcare Services Group had a return on equity of 24.12% and a net margin of 5.07%. The company had revenue of $470.90 million during the quarter, compared to analysts’ expectations of $425.24 million. During the same quarter in the previous year, the business earned $0.26 earnings per share. The firm’s revenue for the quarter was up 21.8% on a year-over-year basis. On average, analysts forecast that Healthcare Services Group, Inc. will post $1.25 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, August 18th will be paid a dividend of $0.1888 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend is Wednesday, August 16th. This is a boost from Healthcare Services Group’s previous quarterly dividend of $0.19. Healthcare Services Group’s dividend payout ratio is 65.22%.
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Several brokerages recently weighed in on HCSG. Credit Suisse Group AG began coverage on shares of Healthcare Services Group in a report on Friday, May 19th. They issued an “outperform” rating and a $50.00 price target on the stock. Robert W. Baird increased their price target on shares of Healthcare Services Group from $47.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, July 12th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Healthcare Services Group from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a report on Friday, July 14th. Jefferies Group LLC reiterated a “hold” rating and issued a $49.00 price target (up previously from $41.00) on shares of Healthcare Services Group in a report on Tuesday, June 6th. Finally, BidaskClub upgraded shares of Healthcare Services Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $52.17.
In other news, Director Daniel P. Mccartney sold 113,901 shares of the company’s stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $45.87, for a total transaction of $5,224,638.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert L. Frome sold 7,485 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $47.00, for a total value of $351,795.00. Following the sale, the director now owns 37,986 shares of the company’s stock, valued at approximately $1,785,342. The disclosure for this sale can be found here. Insiders have sold 130,886 shares of company stock valued at $6,040,754 in the last 90 days. Company insiders own 4.80% of the company’s stock.
Healthcare Services Group Company Profile
Healthcare Services Group, Inc provides management, administrative and operating services to the housekeeping, laundry, linen, facility maintenance and dietary service departments of the healthcare industry, including nursing homes, retirement complexes, rehabilitation centers and hospitals located throughout the United States.
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