Allianz Asset Management GmbH purchased a new stake in Healthcare Services Group, Inc. (NASDAQ:HCSG) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 4,879 shares of the business services provider’s stock, valued at approximately $212,000.
Several other hedge funds and other institutional investors have also bought and sold shares of HCSG. Whittier Trust Co. of Nevada Inc. raised its holdings in Healthcare Services Group by 61.7% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 3,670 shares of the business services provider’s stock worth $160,000 after purchasing an additional 1,400 shares in the last quarter. Natixis bought a new position in Healthcare Services Group in the 1st quarter worth $246,000. Stevens Capital Management LP bought a new position in Healthcare Services Group in the 1st quarter worth $285,000. LS Investment Advisors LLC raised its holdings in Healthcare Services Group by 40.5% in the 1st quarter. LS Investment Advisors LLC now owns 6,604 shares of the business services provider’s stock worth $287,000 after purchasing an additional 1,903 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in Healthcare Services Group in the 1st quarter worth $318,000. 97.93% of the stock is currently owned by institutional investors.
In other news, Director Dino D. Ottaviano sold 1,150 shares of the stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $41.05, for a total value of $47,207.50. Following the transaction, the director now owns 1,694 shares in the company, valued at approximately $69,538.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert J. Moss sold 3,001 shares of the stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $41.64, for a total transaction of $124,961.64. Following the completion of the transaction, the director now owns 3,001 shares in the company, valued at approximately $124,961.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,152 shares of company stock worth $297,041. Insiders own 1.00% of the company’s stock.
Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings data on Tuesday, July 17th. The business services provider reported $0.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.03). The firm had revenue of $503.70 million for the quarter, compared to analysts’ expectations of $508.78 million. Healthcare Services Group had a net margin of 3.48% and a return on equity of 17.46%. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the company posted $0.30 earnings per share. analysts anticipate that Healthcare Services Group, Inc. will post 1.48 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, August 24th will be issued a dividend of $0.1938 per share. This represents a $0.78 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Thursday, August 23rd. This is an increase from Healthcare Services Group’s previous quarterly dividend of $0.19. Healthcare Services Group’s dividend payout ratio (DPR) is presently 64.71%.
HCSG has been the subject of several research reports. BidaskClub lowered shares of Healthcare Services Group from a “hold” rating to a “sell” rating in a report on Thursday, July 19th. Stifel Nicolaus downgraded shares of Healthcare Services Group from a “hold” rating to a “sell” rating and reduced their target price for the stock from $44.00 to $35.00 in a research report on Wednesday, July 18th. Benchmark reaffirmed a “buy” rating on shares of Healthcare Services Group in a research report on Wednesday, July 18th. Zacks Investment Research raised shares of Healthcare Services Group from a “sell” rating to a “hold” rating in a research report on Saturday, June 30th. Finally, ValuEngine downgraded shares of Healthcare Services Group from a “hold” rating to a “sell” rating in a research report on Thursday, July 19th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $47.00.
About Healthcare Services Group
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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