Geode Capital Management LLC raised its position in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 5.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 589,402 shares of the business services provider’s stock after buying an additional 32,191 shares during the period. Geode Capital Management LLC owned 0.81% of Healthcare Services Group worth $25,397,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in HCSG. State Street Corp raised its stake in Healthcare Services Group by 7.0% in the fourth quarter. State Street Corp now owns 1,548,492 shares of the business services provider’s stock worth $60,654,000 after buying an additional 100,771 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Healthcare Services Group by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,134,480 shares of the business services provider’s stock worth $44,438,000 after buying an additional 19,333 shares during the period. GSA Capital Partners LLP raised its position in shares of Healthcare Services Group by 125.9% in the fourth quarter. GSA Capital Partners LLP now owns 17,867 shares of the business services provider’s stock worth $700,000 after buying an additional 9,958 shares during the period. First Republic Investment Management Inc. raised its position in shares of Healthcare Services Group by 7.3% in the fourth quarter. First Republic Investment Management Inc. now owns 8,479 shares of the business services provider’s stock worth $333,000 after buying an additional 578 shares during the period. Finally, Norges Bank bought a new position in shares of Healthcare Services Group during the fourth quarter worth approximately $22,959,000. 93.76% of the stock is owned by hedge funds and other institutional investors.

Shares of Healthcare Services Group, Inc. (HCSG) traded down 0.19% during mid-day trading on Thursday, reaching $51.50. 302,024 shares of the company traded hands. Healthcare Services Group, Inc. has a 52 week low of $34.83 and a 52 week high of $54.28. The company has a market capitalization of $3.77 billion, a P/E ratio of 45.18 and a beta of 0.61. The stock’s 50-day moving average is $49.61 and its 200-day moving average is $45.10.

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

The firm also recently declared 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 represents a $0.76 dividend on an annualized basis and a yield of 1.47%. 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. Healthcare Services Group’s dividend payout ratio is presently 65.22%.

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Several brokerages recently issued reports on HCSG. Credit Suisse Group began coverage on shares of Healthcare Services Group in a report on Friday, May 19th. They set an “outperform” rating and a $50.00 price objective on the stock. BidaskClub downgraded shares of Healthcare Services Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Robert W. Baird raised their target price on shares of Healthcare Services Group from $47.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday, July 12th. They noted that the move was a valuation call. Zacks Investment Research upgraded 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 note on Friday, July 14th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $49.00 price objective (up from $41.00) on shares of Healthcare Services Group in a research note on Tuesday, June 6th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Healthcare Services Group currently has a consensus rating of “Buy” and a consensus target price of $53.00.

In other Healthcare Services Group news, Director John Briggs sold 2,500 shares of the business’s stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $47.52, for a total transaction of $118,800.00. Following the sale, the director now owns 22,017 shares in the company, valued at approximately $1,046,247.84. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Daniel P. Mccartney sold 113,901 shares of the business’s stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $45.87, for a total value of $5,224,638.87. The disclosure for this sale can be found here. Insiders sold a total of 135,886 shares of company stock valued at $6,305,754 over the last three months. 4.30% of the stock is owned by corporate 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 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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