Schwab Charles Investment Management Inc. increased its holdings in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 3.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 395,329 shares of the business services provider’s stock after purchasing an additional 14,757 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.54% of Healthcare Services Group worth $18,514,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Miles Capital Inc. increased its stake in Healthcare Services Group by 0.3% during the first quarter. Miles Capital Inc. now owns 6,881 shares of the business services provider’s stock valued at $297,000 after acquiring an additional 20 shares during the period. Ashford Capital Management Inc. increased its stake in Healthcare Services Group by 0.3% during the first quarter. Ashford Capital Management Inc. now owns 28,398 shares of the business services provider’s stock valued at $1,224,000 after acquiring an additional 95 shares during the period. TD Asset Management Inc. increased its stake in Healthcare Services Group by 1.0% during the second quarter. TD Asset Management Inc. now owns 10,483 shares of the business services provider’s stock valued at $491,000 after acquiring an additional 100 shares during the period. LS Investment Advisors LLC increased its stake in Healthcare Services Group by 4.0% during the second quarter. LS Investment Advisors LLC now owns 2,834 shares of the business services provider’s stock valued at $133,000 after acquiring an additional 108 shares during the period. Finally, Municipal Employees Retirement System of Michigan increased its stake in Healthcare Services Group by 1.5% during the first quarter. Municipal Employees Retirement System of Michigan now owns 16,580 shares of the business services provider’s stock valued at $714,000 after acquiring an additional 250 shares during the period. 91.72% of the stock is owned by institutional investors and hedge funds.

In other news, Director Robert L. Frome sold 5,000 shares of Healthcare Services Group stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $53.00, for a total value of $265,000.00. Following the completion of the sale, the director now directly owns 20,501 shares in the company, valued at $1,086,553. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Michael E. Mcbryan sold 22,500 shares of Healthcare Services Group stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $51.82, for a total transaction of $1,165,950.00. Following the completion of the sale, the insider now owns 32,542 shares of the company’s stock, valued at $1,686,326.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,750 shares of company stock valued at $1,910,345. 4.30% of the stock is owned by company insiders.

Several equities analysts recently issued reports on the company. Jefferies Group LLC restated a “hold” rating and set a $49.00 price target on shares of Healthcare Services Group in a research note on Friday, July 7th. Zacks Investment Research upgraded Healthcare Services Group from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research note on Friday, July 14th. Credit Suisse Group restated an “outperform” rating and set a $56.00 price target (up from $50.00) on shares of Healthcare Services Group in a research note on Thursday, July 13th. BidaskClub lowered Healthcare Services Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 3rd. Finally, Stifel Nicolaus restated a “buy” rating and set a $50.00 price target (up from $48.00) on shares of Healthcare Services Group in a research note on Wednesday, July 12th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $53.00.

Shares of Healthcare Services Group, Inc. (NASDAQ HCSG) opened at 52.54 on Friday. The company has a market capitalization of $3.85 billion, a price-to-earnings ratio of 46.09 and a beta of 0.63. Healthcare Services Group, Inc. has a 1-year low of $34.83 and a 1-year high of $54.28. The stock has a 50 day moving average price of $51.15 and a 200 day moving average price of $47.64.

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

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, August 18th will be given a $0.1888 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.43%. This is an increase from Healthcare Services Group’s previous quarterly dividend of $0.19. The ex-dividend date is Wednesday, August 16th. Healthcare Services Group’s payout ratio is presently 65.22%.

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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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