Principal Financial Group Inc. trimmed its stake in Healthcare Services Group, Inc. (NASDAQ:HCSG – Get Rating) by 6.1% in the 1st quarter, HoldingsChannel reports. The fund owned 604,481 shares of the business services provider's stock after selling 39,448 shares during the quarter. Principal Financial Group Inc.'s holdings in Healthcare Services Group were worth $11,225,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Swiss National Bank increased its position in Healthcare Services Group by 7.0% during the 1st quarter. Swiss National Bank now owns 176,263 shares of the business services provider's stock valued at $3,273,000 after buying an additional 11,600 shares in the last quarter. Teacher Retirement System of Texas increased its position in Healthcare Services Group by 6.8% during the 1st quarter. Teacher Retirement System of Texas now owns 15,365 shares of the business services provider's stock valued at $285,000 after buying an additional 977 shares in the last quarter. State Board of Administration of Florida Retirement System increased its position in Healthcare Services Group by 6.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 35,967 shares of the business services provider's stock valued at $668,000 after buying an additional 2,123 shares in the last quarter. National Bank of Canada FI increased its position in Healthcare Services Group by 6.8% during the 1st quarter. National Bank of Canada FI now owns 17,759 shares of the business services provider's stock valued at $329,000 after buying an additional 1,137 shares in the last quarter. Finally, Royce & Associates LP increased its position in Healthcare Services Group by 129.3% during the 1st quarter. Royce & Associates LP now owns 1,594,251 shares of the business services provider's stock valued at $29,605,000 after buying an additional 899,037 shares in the last quarter.
Get Healthcare Services Group alerts:Analyst Upgrades and Downgrades
HCSG has been the topic of several recent analyst reports. Credit Suisse Group reduced their target price on Healthcare Services Group to $15.00 in a research report on Friday, July 22nd. StockNews.com raised Healthcare Services Group from a "sell" rating to a "hold" rating in a research report on Tuesday, June 28th. Finally, Robert W. Baird dropped their price target on Healthcare Services Group from $23.00 to $15.00 in a research note on Thursday, July 21st. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $15.88.
Healthcare Services Group Stock Performance
Healthcare Services Group stock opened at $14.38 on Wednesday. The business's 50-day simple moving average is $15.86 and its two-hundred day simple moving average is $16.71. The company has a market cap of $1.06 billion, a PE ratio of 35.95 and a beta of 0.22. Healthcare Services Group, Inc. has a fifty-two week low of $13.66 and a fifty-two week high of $28.68.Healthcare Services Group (NASDAQ:HCSG – Get Rating) last announced its quarterly earnings results on Wednesday, July 20th. The business services provider reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.03). Healthcare Services Group had a net margin of 1.77% and a return on equity of 6.56%. The company had revenue of $424.90 million for the quarter, compared to analysts' expectations of $427.22 million. During the same quarter in the prior year, the business posted $0.13 earnings per share. The firm's revenue was up 6.7% compared to the same quarter last year. As a group, analysts predict that Healthcare Services Group, Inc. will post 0.44 EPS for the current fiscal year.
Healthcare Services Group Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, August 19th will be paid a dividend of $0.2138 per share. This is a boost from Healthcare Services Group's previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Thursday, August 18th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 5.95%. Healthcare Services Group's dividend payout ratio (DPR) is presently 215.00%.
About Healthcare Services Group
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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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