The Manufacturers Life Insurance Company Grows Holdings in Healthcare Services Group, Inc. (HCSG)

The Manufacturers Life Insurance Company lifted its holdings in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 1.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 55,764 shares of the business services provider’s stock after acquiring an additional 862 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.08% of Healthcare Services Group worth $2,611,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in HCSG. UBS Asset Management Americas Inc. grew its stake in shares of Healthcare Services Group by 57.5% in the first quarter. UBS Asset Management Americas Inc. now owns 43,749 shares of the business services provider’s stock valued at $1,885,000 after acquiring an additional 15,973 shares in the last quarter. Teachers Advisors LLC grew its stake in shares of Healthcare Services Group by 8.4% in the first quarter. Teachers Advisors LLC now owns 121,573 shares of the business services provider’s stock valued at $5,239,000 after acquiring an additional 9,418 shares in the last quarter. Vanguard Group Inc. lifted its position in Healthcare Services Group by 6.5% during the first quarter. Vanguard Group Inc. now owns 6,832,778 shares of the business services provider’s stock worth $294,424,000 after purchasing an additional 418,676 shares during the period. Geode Capital Management LLC lifted its position in Healthcare Services Group by 5.8% during the first quarter. Geode Capital Management LLC now owns 589,402 shares of the business services provider’s stock worth $25,397,000 after purchasing an additional 32,191 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Healthcare Services Group by 0.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,138,378 shares of the business services provider’s stock worth $49,053,000 after purchasing an additional 3,898 shares during the period. Institutional investors and hedge funds own 91.37% of the company’s stock.

Healthcare Services Group, Inc. (HCSG) opened at $53.19 on Friday. The firm has a market cap of $3.86 billion, a PE ratio of 44.31, a P/E/G ratio of 3.86 and a beta of 0.64.

Healthcare Services Group (NASDAQ:HCSG) last released its earnings results on Tuesday, October 17th. The business services provider reported $0.31 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.31. The company had revenue of $491.40 million for the quarter, compared to analysts’ expectations of $485.53 million. Healthcare Services Group had a return on equity of 24.17% and a net margin of 5.00%. The business’s revenue for the quarter was up 25.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.27 EPS. analysts anticipate that Healthcare Services Group, Inc. will post 1.24 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Investors of record on Friday, November 17th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $0.76 annualized dividend and a yield of 1.43%. This is a positive change from Healthcare Services Group’s previous quarterly dividend of $0.19. Healthcare Services Group’s dividend payout ratio (DPR) is 63.03%.

HCSG has been the subject of several recent analyst reports. Jefferies Group LLC reaffirmed a “hold” rating and set a $49.00 price objective on shares of Healthcare Services Group in a research report on Friday, July 7th. Robert W. Baird upped their price objective on shares of Healthcare Services Group from $47.00 to $52.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 12th. They noted that the move was a valuation call. Stifel Nicolaus reaffirmed a “buy” rating and set a $50.00 price objective (up previously from $48.00) on shares of Healthcare Services Group in a research report on Wednesday, July 12th. Credit Suisse Group reaffirmed an “outperform” rating and set a $56.00 price objective (up previously from $50.00) on shares of Healthcare Services Group in a research report on Thursday, July 13th. Finally, Zacks Investment Research raised shares of Healthcare Services Group from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research report on Friday, July 14th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $54.80.

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In related news, Director John Briggs sold 2,500 shares of Healthcare Services Group stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $50.75, for a total value of $126,875.00. Following the completion of the sale, the director now owns 18,579 shares of the company’s stock, valued at approximately $942,884.25. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Michael E. Mcbryan sold 800 shares of Healthcare Services Group stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $53.00, for a total value of $42,400.00. Following the completion of the sale, the executive vice president now directly owns 14,413 shares of the company’s stock, valued at approximately $763,889. The disclosure for this sale can be found here. In the last three months, insiders sold 25,800 shares of company stock valued at $1,362,450. 4.30% of the stock is currently owned by insiders.

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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