Geneva Advisors LLC acquired a new stake in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 23,007 shares of the business services provider’s stock, valued at approximately $991,000.
Several other institutional investors have also recently made changes to their positions in HCSG. USS Investment Management Ltd bought a new position in shares of Healthcare Services Group during the third quarter valued at approximately $60,917,000. UBS Group AG raised its position in shares of Healthcare Services Group by 217.1% in the third quarter. UBS Group AG now owns 932,841 shares of the business services provider’s stock valued at $36,922,000 after buying an additional 638,682 shares during the period. Norges Bank bought a new position in shares of Healthcare Services Group during the fourth quarter valued at approximately $22,959,000. Russell Investments Group Ltd. bought a new position in shares of Healthcare Services Group during the fourth quarter valued at approximately $16,498,000. Finally, Brown Advisory Inc. raised its position in shares of Healthcare Services Group by 18.1% in the fourth quarter. Brown Advisory Inc. now owns 1,765,235 shares of the business services provider’s stock valued at $69,143,000 after buying an additional 270,704 shares during the period. 93.71% of the stock is currently owned by institutional investors and hedge funds.
Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) traded up 0.93% during trading on Friday, reaching $45.71. 317,103 shares of the company traded hands. The firm has a market capitalization of $3.34 billion, a PE ratio of 41.94 and a beta of 0.68. Healthcare Services Group, Inc. has a 12 month low of $34.83 and a 12 month high of $47.05. The firm has a 50-day moving average price of $44.04 and a 200-day moving average price of $40.58.
Healthcare Services Group (NASDAQ:HCSG) last posted its quarterly earnings results on Tuesday, April 11th. The business services provider reported $0.30 EPS for the quarter, topping the consensus estimate of $0.29 by $0.01. The business earned $404.50 million during the quarter, compared to analysts’ expectations of $416.40 million. Healthcare Services Group had a net margin of 4.95% and a return on equity of 23.71%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the company posted $0.26 earnings per share. Equities research analysts anticipate that Healthcare Services Group, Inc. will post $1.21 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 23rd. Investors of record on Friday, May 19th will be issued a dividend of $0.1875 per share. This is a boost from Healthcare Services Group’s previous quarterly dividend of $0.19. This represents a $0.75 annualized dividend and a dividend yield of 1.64%. The ex-dividend date is Wednesday, May 17th. Healthcare Services Group’s dividend payout ratio (DPR) is currently 69.16%.
HCSG has been the subject of several research analyst reports. Zacks Investment Research lowered shares of Healthcare Services Group from a “hold” rating to a “sell” rating in a research report on Thursday, February 9th. Stifel Nicolaus upped their price target on shares of Healthcare Services Group from $46.00 to $48.00 and gave the stock a “buy” rating in a research report on Monday, May 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Healthcare Services Group currently has a consensus rating of “Hold” and a consensus price target of $45.00.
In related news, General Counsel Jason J. Bundick sold 4,800 shares of the firm’s stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $41.98, for a total transaction of $201,504.00. Following the completion of the sale, the general counsel now directly owns 3,460 shares in the company, valued at $145,250.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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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