Wells Fargo & Company MN lessened its stake in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 5.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 390,512 shares of the business services provider’s stock after selling 22,791 shares during the period. Wells Fargo & Company MN’s holdings in Healthcare Services Group were worth $15,863,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of HCSG. Brookstone Capital Management purchased a new stake in Healthcare Services Group during the 2nd quarter valued at $203,000. Allianz Asset Management GmbH purchased a new position in shares of Healthcare Services Group during the first quarter valued at approximately $212,000. Signature Financial Management Inc. purchased a new position in shares of Healthcare Services Group during the second quarter valued at approximately $216,000. Eqis Capital Management Inc. purchased a new position in shares of Healthcare Services Group during the second quarter valued at approximately $222,000. Finally, Quantitative Systematic Strategies LLC purchased a new position in shares of Healthcare Services Group during the second quarter valued at approximately $253,000.
In other Healthcare Services Group news, Director Robert J. Moss sold 2,000 shares of the business’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $47.55, for a total value of $95,100.00. Following the transaction, the director now owns 2,000 shares of the company’s stock, valued at $95,100. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Dino D. Ottaviano sold 700 shares of the business’s stock in a transaction on Friday, November 30th. The stock was sold at an average price of $46.98, for a total value of $32,886.00. Following the completion of the transaction, the director now directly owns 1,244 shares in the company, valued at approximately $58,443.12. The disclosure for this sale can be found here. In the last three months, insiders sold 7,701 shares of company stock worth $347,780. Insiders own 1.00% of the company’s stock.
HCSG stock opened at $46.21 on Thursday. Healthcare Services Group, Inc. has a 1-year low of $35.04 and a 1-year high of $56.20. The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of 38.83 and a beta of 0.73.
Healthcare Services Group (NASDAQ:HCSG) last posted its quarterly earnings data on Tuesday, October 16th. The business services provider reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.02). Healthcare Services Group had a return on equity of 17.80% and a net margin of 3.59%. The business had revenue of $506.90 million during the quarter, compared to analysts’ expectations of $510.27 million. During the same period in the prior year, the firm posted $0.31 EPS. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, equities analysts expect that Healthcare Services Group, Inc. will post 1.44 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, November 23rd will be given a $0.195 dividend. The ex-dividend date is Wednesday, November 21st. This represents a $0.78 annualized dividend and a yield of 1.69%. This is a boost from Healthcare Services Group’s previous quarterly dividend of $0.19. Healthcare Services Group’s payout ratio is currently 65.55%.
HCSG has been the topic of several analyst reports. Jefferies Financial Group set a $53.00 target price on Healthcare Services Group and gave the company a “buy” rating in a research report on Tuesday, October 2nd. ValuEngine raised Healthcare Services Group from a “hold” rating to a “buy” rating in a research report on Friday, November 16th. BidaskClub raised Healthcare Services Group from a “sell” rating to a “hold” rating in a research report on Wednesday, October 10th. Zacks Investment Research raised Healthcare Services Group from a “sell” rating to a “hold” rating in a research report on Wednesday, September 19th. Finally, Berenberg Bank initiated coverage on Healthcare Services Group in a research report on Thursday, October 4th. They set a “hold” rating and a $40.00 target price on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Healthcare Services Group presently has an average rating of “Buy” and a consensus target price of $46.00.
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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 to nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.
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