Atlantic Trust Group LLC Invests $39.43 Million in Healthcare Services Group, Inc. (HCSG)

Atlantic Trust Group LLC acquired a new stake in Healthcare Services Group, Inc. (NASDAQ:HCSG) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 730,499 shares of the business services provider’s stock, valued at approximately $39,425,000. Atlantic Trust Group LLC owned 1.00% of Healthcare Services Group at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Strs Ohio boosted its holdings in shares of Healthcare Services Group by 16.9% during the 2nd quarter. Strs Ohio now owns 9,000 shares of the business services provider’s stock worth $421,000 after buying an additional 1,300 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Healthcare Services Group by 720.8% during the 2nd quarter. SG Americas Securities LLC now owns 23,466 shares of the business services provider’s stock worth $1,099,000 after buying an additional 20,607 shares during the period. TIAA CREF Investment Management LLC boosted its holdings in shares of Healthcare Services Group by 1.4% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 192,535 shares of the business services provider’s stock worth $9,016,000 after buying an additional 2,601 shares during the period. First Trust Advisors LP boosted its holdings in shares of Healthcare Services Group by 63.0% during the 2nd quarter. First Trust Advisors LP now owns 36,095 shares of the business services provider’s stock worth $1,690,000 after buying an additional 13,950 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Healthcare Services Group by 23.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 474,299 shares of the business services provider’s stock worth $25,598,000 after buying an additional 91,418 shares during the period. 92.88% of the stock is owned by institutional investors.

HCSG has been the subject of several research analyst reports. Robert W. Baird reaffirmed a “buy” rating and set a $52.00 target price on shares of Healthcare Services Group in a report on Wednesday, October 4th. Zacks Investment Research raised shares of Healthcare Services Group from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a report on Thursday, October 19th. Credit Suisse Group reaffirmed an “outperform” rating and set a $62.00 target price (up previously from $56.00) on shares of Healthcare Services Group in a report on Friday, November 3rd. Jefferies Group reaffirmed a “hold” rating and set a $49.00 target price on shares of Healthcare Services Group in a report on Friday, September 29th. Finally, Stifel Nicolaus reaffirmed a “buy” rating on shares of Healthcare Services Group in a report on Thursday, October 19th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $54.80.

Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) opened at $53.41 on Friday. Healthcare Services Group, Inc. has a 12 month low of $37.54 and a 12 month high of $55.68. The firm has a market cap of $3,910.00, a PE ratio of 44.88, a price-to-earnings-growth ratio of 3.95 and a beta of 0.62.

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

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 22nd. Shareholders of record on Friday, November 17th were paid a $0.19 dividend. This is a boost from Healthcare Services Group’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $0.76 annualized dividend and a yield of 1.42%. Healthcare Services Group’s payout ratio is 63.87%.

In other Healthcare Services Group news, insider Michael E. Mcbryan sold 22,500 shares of Healthcare Services Group stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $53.03, for a total value of $1,193,175.00. Following the completion of the sale, the insider now owns 14,413 shares in the company, valued at approximately $764,321.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael E. Mcbryan sold 800 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $53.00, for a total transaction of $42,400.00. Following the completion of the transaction, the executive vice president now owns 14,413 shares of the company’s stock, valued at $763,889. The disclosure for this sale can be found here. 4.30% of the stock is owned by insiders.

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

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

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