Ameriprise Financial Inc. Has $30.45 Million Stake in Healthcare Services Group, Inc. (HCSG)

Ameriprise Financial Inc. lifted its holdings in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 4.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 564,288 shares of the business services provider’s stock after buying an additional 25,260 shares during the quarter. Ameriprise Financial Inc. owned about 0.77% of Healthcare Services Group worth $30,453,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of HCSG. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Healthcare Services Group by 9.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,700 shares of the business services provider’s stock worth $126,000 after buying an additional 242 shares during the period. LS Investment Advisors LLC grew its position in shares of Healthcare Services Group by 4.0% during the 2nd quarter. LS Investment Advisors LLC now owns 2,834 shares of the business services provider’s stock worth $133,000 after buying an additional 108 shares during the period. Public Employees Retirement System of Ohio grew its position in shares of Healthcare Services Group by 4.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 3,005 shares of the business services provider’s stock worth $141,000 after buying an additional 135 shares during the period. Bruderman Asset Management LLC acquired a new stake in shares of Healthcare Services Group during the 2nd quarter worth approximately $170,000. Finally, Riverhead Capital Management LLC grew its holdings in Healthcare Services Group by 69.1% during the second quarter. Riverhead Capital Management LLC now owns 4,059 shares of the business services provider’s stock valued at $190,000 after purchasing an additional 1,659 shares during the period. Institutional investors own 93.16% of the company’s stock.

Healthcare Services Group, Inc. (NASDAQ:HCSG) opened at $51.73 on Tuesday. The firm has a market cap of $3,747.91, a P/E ratio of 42.98, a PEG ratio of 3.74 and a beta of 0.62. Healthcare Services Group, Inc. has a 1-year low of $37.54 and a 1-year high of $55.68.

Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings results on Tuesday, October 17th. The business services provider reported $0.31 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.31. The company had revenue of $491.40 million during the quarter, compared to analysts’ expectations of $485.53 million. Healthcare Services Group had a net margin of 5.00% and a return on equity of 24.17%. The business’s quarterly revenue was up 25.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.27 earnings per share. equities research analysts expect that Healthcare Services Group, Inc. will post 1.24 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 22nd. Stockholders of record on Friday, November 17th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Thursday, November 16th. This is a boost from Healthcare Services Group’s previous quarterly dividend of $0.19. Healthcare Services Group’s dividend payout ratio is 63.87%.

A number of research analysts recently issued reports on HCSG shares. Robert W. Baird restated a “buy” rating and set a $52.00 price objective on shares of Healthcare Services Group in a report on Wednesday, October 4th. Zacks Investment Research upgraded shares of Healthcare Services Group from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a report on Thursday, October 19th. Stifel Nicolaus restated a “buy” rating on shares of Healthcare Services Group in a report on Thursday, October 19th. Jefferies Group restated a “hold” rating and set a $49.00 price objective on shares of Healthcare Services Group in a report on Tuesday, August 22nd. Finally, Credit Suisse Group restated an “outperform” rating and set a $62.00 price objective (up previously from $56.00) on shares of Healthcare Services Group in a report on Friday, November 3rd. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $54.80.

In other news, insider Michael E. Mcbryan sold 22,500 shares of the business’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $53.03, for a total value of $1,193,175.00. Following the sale, the insider now owns 14,413 shares of the company’s stock, valued at $764,321.39. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Michael E. Mcbryan sold 800 shares of the business’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $53.00, for a total transaction of $42,400.00. Following the completion of the sale, the executive vice president now directly owns 14,413 shares in the company, valued at approximately $763,889. The disclosure for this sale can be found here. 4.30% of the stock is owned by corporate insiders.

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Healthcare Services Group 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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Institutional Ownership by Quarter for Healthcare Services Group (NASDAQ:HCSG)

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