First Trust Advisors LP Purchases 13,950 Shares of Healthcare Services Group, Inc. (HCSG)

First Trust Advisors LP increased its position in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 63.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 36,095 shares of the business services provider’s stock after acquiring an additional 13,950 shares during the quarter. First Trust Advisors LP’s holdings in Healthcare Services Group were worth $1,690,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Arizona State Retirement System increased its holdings in Healthcare Services Group by 0.3% in the 2nd quarter. Arizona State Retirement System now owns 38,045 shares of the business services provider’s stock worth $1,782,000 after acquiring an additional 100 shares during the last quarter. Granite Investment Partners LLC increased its holdings in Healthcare Services Group by 0.4% in the 2nd quarter. Granite Investment Partners LLC now owns 34,122 shares of the business services provider’s stock worth $1,598,000 after acquiring an additional 137 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Healthcare Services Group by 3.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 395,329 shares of the business services provider’s stock worth $18,514,000 after acquiring an additional 14,757 shares during the last quarter. TD Asset Management Inc. increased its holdings in Healthcare Services Group by 1.0% in the 2nd quarter. TD Asset Management Inc. now owns 10,483 shares of the business services provider’s stock worth $491,000 after acquiring an additional 100 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in Healthcare Services Group by 53.2% in the 2nd quarter. Sei Investments Co. now owns 35,023 shares of the business services provider’s stock worth $1,640,000 after acquiring an additional 12,166 shares during the last quarter. 91.72% of the stock is owned by institutional investors.

In other Healthcare Services Group news, insider Michael E. Mcbryan sold 22,500 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $51.82, for a total value of $1,165,950.00. Following the completion of the sale, the insider now owns 32,542 shares in the company, valued at $1,686,326.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert L. Frome sold 5,000 shares of the company’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $53.00, for a total value of $265,000.00. Following the completion of the sale, the director now owns 20,501 shares of the company’s stock, valued at approximately $1,086,553. The disclosure for this sale can be found here. In the last three months, insiders sold 36,750 shares of company stock worth $1,910,345. 4.30% of the stock is owned by corporate insiders.

Healthcare Services Group, Inc. (HCSG) opened at 50.47 on Friday. Healthcare Services Group, Inc. has a 12-month low of $34.83 and a 12-month high of $54.28. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of 44.27 and a beta of 0.63. The firm’s 50-day moving average price is $51.26 and its 200-day moving average price is $47.35.

Healthcare Services Group (NASDAQ:HCSG) last posted its earnings results on Tuesday, July 11th. The business services provider reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.01. Healthcare Services Group had a return on equity of 24.12% and a net margin of 5.07%. The company had revenue of $470.90 million for the quarter, compared to the consensus estimate of $425.24 million. During the same quarter in the prior year, the company earned $0.26 earnings per share. Healthcare Services Group’s revenue was up 21.8% on a year-over-year basis. On average, equities analysts predict that Healthcare Services Group, Inc. will post $1.25 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, August 18th will be issued a $0.1888 dividend. This is an increase from Healthcare Services Group’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $0.76 dividend on an annualized basis and a yield of 1.50%. Healthcare Services Group’s dividend payout ratio is currently 65.22%.

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HCSG has been the subject of several recent research reports. Zacks Investment Research lowered Healthcare Services Group from a “buy” rating to a “hold” rating in a report on Tuesday. BidaskClub raised Healthcare Services Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 23rd. Stifel Nicolaus reissued a “buy” rating and issued a $50.00 price objective (up previously from $48.00) on shares of Healthcare Services Group in a report on Wednesday, July 12th. Jefferies Group LLC reissued a “hold” rating and issued a $49.00 price objective on shares of Healthcare Services Group in a report on Friday, July 7th. Finally, Robert W. Baird lifted their price objective on Healthcare Services Group from $47.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, July 12th. They noted that the move was a valuation call. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Healthcare Services Group currently has a consensus rating of “Buy” and a consensus price target of $53.00.

Healthcare Services Group Company Profile

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, including nursing homes, retirement complexes, rehabilitation centers and hospitals located throughout the United States.

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

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