PNC Financial Services Group Inc. lifted its stake in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 5.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 86,263 shares of the business services provider’s stock after acquiring an additional 4,772 shares during the period. PNC Financial Services Group Inc.’s holdings in Healthcare Services Group were worth $3,725,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Raymond James Trust N.A. bought a new stake in shares of Healthcare Services Group during the 2nd quarter worth $203,000. Brookstone Capital Management bought a new stake in shares of Healthcare Services Group during the 2nd quarter worth $203,000. Allianz Asset Management GmbH purchased a new position in Healthcare Services Group in the 1st quarter worth $212,000. Eqis Capital Management Inc. purchased a new position in Healthcare Services Group in the 2nd quarter worth $222,000. Finally, Natixis purchased a new position in Healthcare Services Group in the 1st quarter worth $246,000. 97.93% of the stock is owned by institutional investors.

In other Healthcare Services Group news, Director Dino D. Ottaviano sold 1,150 shares of the business’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $41.05, for a total value of $47,207.50. Following the transaction, the director now owns 1,694 shares in the company, valued at $69,538.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert J. Moss sold 3,001 shares of the business’s stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $41.64, for a total transaction of $124,961.64. Following the completion of the transaction, the director now owns 3,001 shares in the company, valued at approximately $124,961.64. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

A number of equities analysts recently commented on HCSG shares. Stifel Nicolaus cut shares of Healthcare Services Group from a “hold” rating to a “sell” rating and decreased their target price for the stock from $44.00 to $35.00 in a research report on Wednesday, July 18th. Zacks Investment Research cut shares of Healthcare Services Group from a “hold” rating to a “sell” rating in a research report on Thursday, August 30th. ValuEngine upgraded shares of Healthcare Services Group from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 6th. William Blair upgraded shares of Healthcare Services Group from a “market perform” rating to an “outperform” rating in a research report on Wednesday, June 6th. Finally, BidaskClub cut shares of Healthcare Services Group from a “hold” rating to a “sell” rating in a research report on Thursday, July 19th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $47.00.

Shares of NASDAQ:HCSG opened at $42.10 on Thursday. The firm has a market capitalization of $3.06 billion, a P/E ratio of 35.38 and a beta of 0.83. Healthcare Services Group, Inc. has a 52 week low of $35.04 and a 52 week high of $56.20.

Healthcare Services Group (NASDAQ:HCSG) last issued its earnings results on Tuesday, July 17th. The business services provider reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03). The business had revenue of $503.70 million during the quarter, compared to analysts’ expectations of $508.78 million. Healthcare Services Group had a return on equity of 17.46% and a net margin of 3.48%. Healthcare Services Group’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.30 EPS. analysts forecast that Healthcare Services Group, Inc. will post 1.48 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, August 24th will be given a $0.1938 dividend. This is a boost from Healthcare Services Group’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Thursday, August 23rd. This represents a $0.78 dividend on an annualized basis and a dividend yield of 1.84%. Healthcare Services Group’s payout ratio is presently 64.71%.

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 to nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.

Further Reading: Understanding Price to Earnings Ratio (PE)

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

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