JPMorgan Chase & Co. cut its stake in Healthcare Services Group Inc. (NASDAQ:HCSG) by 0.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 480,365 shares of the company’s stock after selling 2,911 shares during the period. JPMorgan Chase & Co. owned approximately 0.66% of Healthcare Services Group worth $19,877,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the company. Emerald Acquisition Ltd. purchased a new position in shares of Healthcare Services Group during the second quarter valued at about $20,450,000. Henderson Group PLC boosted its position in shares of Healthcare Services Group by 57.6% in the second quarter. Henderson Group PLC now owns 801,344 shares of the company’s stock valued at $33,160,000 after buying an additional 292,858 shares during the period. Renaissance Technologies LLC boosted its position in shares of Healthcare Services Group by 256.6% in the first quarter. Renaissance Technologies LLC now owns 318,664 shares of the company’s stock valued at $11,730,000 after buying an additional 229,300 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Healthcare Services Group by 7.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,395,375 shares of the company’s stock valued at $51,364,000 after buying an additional 92,382 shares during the period. Finally, Palisade Capital Management LLC NJ boosted its position in shares of Healthcare Services Group by 10.6% in the first quarter. Palisade Capital Management LLC NJ now owns 670,697 shares of the company’s stock valued at $24,688,000 after buying an additional 64,321 shares during the period. Hedge funds and other institutional investors own 94.89% of the company’s stock.
Shares of Healthcare Services Group Inc. (NASDAQ:HCSG) traded down 1.02% during mid-day trading on Monday, reaching $38.77. The company’s stock had a trading volume of 145,386 shares. The stock has a 50 day moving average of $39.08 and a 200-day moving average of $38.40. Healthcare Services Group Inc. has a one year low of $31.50 and a one year high of $42.18. The stock has a market cap of $2.81 billion, a P/E ratio of 44.51 and a beta of 0.56.
Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings results on Tuesday, July 12th. The company reported $0.26 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.26. The firm had revenue of $386.56 million for the quarter, compared to analyst estimates of $392.26 million. Healthcare Services Group had a net margin of 4.25% and a return on equity of 20.70%. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.23 EPS. On average, equities research analysts expect that Healthcare Services Group Inc. will post $1.05 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, August 19th were given a dividend of $0.1838 per share. This represents a $0.74 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend was Wednesday, August 17th. This is a positive change from Healthcare Services Group’s previous quarterly dividend of $0.18. Healthcare Services Group’s payout ratio is presently 83.15%.
Several brokerages recently issued reports on HCSG. Jefferies Group increased their price objective on Healthcare Services Group from $36.00 to $41.00 and gave the stock a “hold” rating in a research note on Wednesday, July 13th. Zacks Investment Research raised Healthcare Services Group from a “sell” rating to a “hold” rating in a research note on Friday. William Blair cut Healthcare Services Group from an “outperform” rating to a “market perform” rating in a research note on Wednesday, September 7th. Finally, Robert W. Baird assumed coverage on Healthcare Services Group in a research report on Friday, September 16th. They set an “outperform” rating and a $46.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Healthcare Services Group currently has an average rating of “Hold” and a consensus price target of $42.33.
In other news, Director Robert L. Frome sold 3,365 shares of Healthcare Services Group stock in a transaction that occurred on Tuesday, July 19th. The shares were sold at an average price of $38.10, for a total transaction of $128,206.50. Following the sale, the director now owns 33,866 shares of the company’s stock, valued at approximately $1,290,294.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 4.80% of the company’s stock.
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 the healthcare industry. The Company caters to nursing homes, retirement complexes, rehabilitation centers and hospitals located in the United States.
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