PNC Financial Services Group Inc. Trims Stake in Healthcare Services Group, Inc. (HCSG)

PNC Financial Services Group Inc. trimmed its position in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 5.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 81,491 shares of the business services provider’s stock after selling 4,455 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Healthcare Services Group were worth $3,543,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. TimesSquare Capital Management LLC lifted its holdings in shares of Healthcare Services Group by 2.0% during the 4th quarter. TimesSquare Capital Management LLC now owns 779,780 shares of the business services provider’s stock valued at $41,110,000 after buying an additional 15,500 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Healthcare Services Group by 2.4% during the 4th quarter. Swiss National Bank now owns 124,663 shares of the business services provider’s stock valued at $6,572,000 after buying an additional 2,900 shares during the last quarter. Pinebridge Investments L.P. lifted its holdings in shares of Healthcare Services Group by 165.9% during the 4th quarter. Pinebridge Investments L.P. now owns 24,145 shares of the business services provider’s stock valued at $1,273,000 after buying an additional 15,063 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Healthcare Services Group by 39.7% during the 4th quarter. Deutsche Bank AG now owns 188,702 shares of the business services provider’s stock valued at $9,945,000 after buying an additional 53,647 shares during the last quarter. Finally, Ramsey Quantitative Systems bought a new position in shares of Healthcare Services Group in the 4th quarter valued at approximately $242,000. Institutional investors and hedge funds own 97.92% of the company’s stock.

Shares of NASDAQ HCSG opened at $41.70 on Wednesday. The company has a market capitalization of $2.88 billion, a price-to-earnings ratio of 35.04, a price-to-earnings-growth ratio of 2.31 and a beta of 0.81. Healthcare Services Group, Inc. has a 12 month low of $35.04 and a 12 month high of $56.20.

Healthcare Services Group (NASDAQ:HCSG) last issued its quarterly earnings results on Tuesday, April 17th. The business services provider reported $0.00 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.38). The business had revenue of $501.81 million during the quarter, compared to the consensus estimate of $505.44 million. Healthcare Services Group had a return on equity of 16.99% and a net margin of 3.38%. The business’s quarterly revenue was up 24.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.30 earnings per share. equities analysts anticipate that Healthcare Services Group, Inc. will post 1.54 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, May 25th will be given a $0.1925 dividend. This is an increase from Healthcare Services Group’s previous quarterly dividend of $0.19. This represents a $0.77 annualized dividend and a yield of 1.85%. The ex-dividend date is Thursday, May 24th. Healthcare Services Group’s payout ratio is currently 64.71%.

A number of brokerages recently weighed in on HCSG. Benchmark began coverage on Healthcare Services Group in a research note on Tuesday. They issued a “buy” rating and a $50.00 price objective on the stock. BidaskClub raised Healthcare Services Group from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 7th. ValuEngine raised Healthcare Services Group from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 6th. William Blair raised Healthcare Services Group from a “market perform” rating to an “outperform” rating in a research note on Wednesday, June 6th. Finally, Zacks Investment Research downgraded Healthcare Services Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 1st. Three research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $46.33.

In other Healthcare Services Group news, Director Dino D. Ottaviano sold 1,500 shares of Healthcare Services Group stock in a transaction that occurred on Friday, March 16th. The stock was sold at an average price of $45.15, for a total value of $67,725.00. Following the transaction, the director now directly owns 2,044 shares of the company’s stock, valued at approximately $92,286.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert J. Moss sold 2,000 shares of Healthcare Services Group stock in a transaction that occurred on Monday, March 19th. The stock was sold at an average price of $44.50, for a total value of $89,000.00. Following the completion of the transaction, the director now directly owns 2,000 shares in the company, valued at $89,000. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

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

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