Envestnet Asset Management Inc. Boosts Position in Healthcare Services Group, Inc. (NASDAQ:HCSG)
Envestnet Asset Management Inc. increased its stake in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 1.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 177,115 shares of the business services provider’s stock after purchasing an additional 1,894 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Healthcare Services Group were worth $5,843,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of HCSG. Oregon Public Employees Retirement Fund raised its holdings in shares of Healthcare Services Group by 3,976.1% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,186,395 shares of the business services provider’s stock worth $30,000 after purchasing an additional 1,157,289 shares during the period. First Trust Advisors LP bought a new stake in Healthcare Services Group during the 1st quarter valued at $29,635,000. Norges Bank bought a new stake in Healthcare Services Group during the 4th quarter valued at $26,517,000. BlackRock Inc. raised its holdings in Healthcare Services Group by 3.0% during the 4th quarter. BlackRock Inc. now owns 8,497,753 shares of the business services provider’s stock valued at $341,439,000 after acquiring an additional 248,258 shares during the period. Finally, Castleark Management LLC bought a new stake in Healthcare Services Group during the 4th quarter valued at $6,338,000.
HCSG has been the topic of a number of analyst reports. Stephens set a $42.00 target price on shares of Healthcare Services Group and gave the company a “buy” rating in a report on Thursday, May 2nd. Jefferies Financial Group set a $48.00 target price on shares of Healthcare Services Group and gave the company a “buy” rating in a report on Friday, April 12th. Benchmark set a $50.00 target price on shares of Healthcare Services Group and gave the company a “buy” rating in a report on Tuesday, March 5th. TheStreet cut shares of Healthcare Services Group from a “b-” rating to a “c+” rating in a report on Friday, March 15th. Finally, ValuEngine raised shares of Healthcare Services Group from a “sell” rating to a “hold” rating in a report on Friday, May 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. Healthcare Services Group presently has a consensus rating of “Hold” and a consensus target price of $41.33.
Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings results on Tuesday, April 30th. The business services provider reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.24). The firm had revenue of $476.11 million for the quarter, compared to analysts’ expectations of $489.64 million. Healthcare Services Group had a net margin of 4.67% and a return on equity of 21.65%. The business’s quarterly revenue was down 4.9% on a year-over-year basis. On average, equities research analysts forecast that Healthcare Services Group, Inc. will post 1.24 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 24th will be given a dividend of $0.1975 per share. This is a positive change from Healthcare Services Group’s previous quarterly dividend of $0.20. This represents a $0.79 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend is Thursday, May 23rd. Healthcare Services Group’s payout ratio is 70.54%.
In other news, Director Robert L. Frome sold 7,502 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $32.64, for a total transaction of $244,865.28. Following the completion of the transaction, the director now directly owns 18,407 shares in the company, valued at approximately $600,804.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is owned by insiders.
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 nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.
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