Healthcare Services Group, Inc. (HCSG) Position Cut by Sumitomo Mitsui Asset Management Company LTD

Sumitomo Mitsui Asset Management Company LTD cut its position in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 9.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 53,594 shares of the business services provider’s stock after selling 5,407 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Healthcare Services Group were worth $1,768,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its position in Healthcare Services Group by 6.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 67,230 shares of the business services provider’s stock valued at $2,732,000 after buying an additional 3,918 shares during the period. Teachers Advisors LLC raised its holdings in shares of Healthcare Services Group by 2.1% in the 3rd quarter. Teachers Advisors LLC now owns 151,656 shares of the business services provider’s stock valued at $6,160,000 after purchasing an additional 3,086 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Healthcare Services Group by 5.3% in the 3rd quarter. Legal & General Group Plc now owns 74,200 shares of the business services provider’s stock valued at $3,014,000 after purchasing an additional 3,718 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Healthcare Services Group in the 4th quarter valued at about $228,000. Finally, Bank of Montreal Can raised its holdings in shares of Healthcare Services Group by 2.1% in the 4th quarter. Bank of Montreal Can now owns 295,584 shares of the business services provider’s stock valued at $11,876,000 after purchasing an additional 6,162 shares in the last quarter.

Shares of NASDAQ HCSG traded up $0.05 during trading hours on Monday, hitting $33.65. 4,334 shares of the stock were exchanged, compared to its average volume of 934,574. The firm has a market cap of $2.49 billion, a PE ratio of 29.96, a price-to-earnings-growth ratio of 2.45 and a beta of 0.83. Healthcare Services Group, Inc. has a 12 month low of $28.24 and a 12 month high of $48.73.

Healthcare Services Group (NASDAQ:HCSG) last posted its quarterly earnings data on Tuesday, April 30th. The business services provider reported $0.12 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.24). The firm had revenue of $476.11 million for the quarter, compared to the consensus estimate of $489.64 million. Healthcare Services Group had a return on equity of 21.65% and a net margin of 4.67%. The company’s revenue was down 4.9% on a year-over-year basis. Analysts anticipate that Healthcare Services Group, Inc. will post 1.25 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 24th will be paid a dividend of $0.1975 per share. This represents a $0.79 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Thursday, May 23rd. This is a positive change from Healthcare Services Group’s previous quarterly dividend of $0.20. Healthcare Services Group’s payout ratio is 70.54%.

HCSG has been the subject of several recent research reports. Robert W. Baird reduced their price target on shares of Healthcare Services Group from $39.00 to $33.00 and set a “neutral” rating for the company in a report on Tuesday, March 19th. Zacks Investment Research upgraded shares of Healthcare Services Group from a “sell” rating to a “hold” rating in a report on Wednesday, February 6th. ValuEngine lowered shares of Healthcare Services Group from a “hold” rating to a “sell” rating in a report on Friday, March 1st. Benchmark set a $50.00 price target on shares of Healthcare Services Group and gave the company a “buy” rating in a report on Tuesday, March 5th. Finally, BidaskClub lowered shares of Healthcare Services Group from a “buy” rating to a “hold” rating in a report on Saturday, February 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $41.33.

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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 of nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.

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

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