Schwab Charles Investment Management Inc. Increases Stake in National HealthCare Co. (NHC)
Schwab Charles Investment Management Inc. lifted its holdings in shares of National HealthCare Co. (NYSEMKT:NHC) by 0.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,843 shares of the company’s stock after acquiring an additional 356 shares during the period. Schwab Charles Investment Management Inc. owned 0.30% of National HealthCare worth $3,146,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in NHC. Cigna Investments Inc. New purchased a new position in shares of National HealthCare during the second quarter worth approximately $242,000. Sei Investments Co. grew its position in shares of National HealthCare by 70.8% during the second quarter. Sei Investments Co. now owns 4,121 shares of the company’s stock worth $289,000 after acquiring an additional 1,708 shares during the last quarter. Bowling Portfolio Management LLC purchased a new position in shares of National HealthCare during the second quarter worth approximately $870,000. Finally, Russell Investments Group Ltd. grew its position in shares of National HealthCare by 1.6% during the second quarter. Russell Investments Group Ltd. now owns 56,013 shares of the company’s stock worth $3,929,000 after acquiring an additional 904 shares during the last quarter.
A number of equities analysts recently weighed in on the stock. BidaskClub upgraded shares of National HealthCare from a “strong sell” rating to a “sell” rating in a research report on Wednesday. ValuEngine lowered shares of National HealthCare from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd.
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National HealthCare Co. (NYSEMKT:NHC) opened at 64.63 on Friday. The company has a 50-day moving average of $62.96 and a 200-day moving average of $67.51. National HealthCare Co. has a 52-week low of $57.73 and a 52-week high of $78.99. The stock has a market capitalization of $982.05 million, a price-to-earnings ratio of 20.32 and a beta of 0.91.
National HealthCare (NYSEMKT:NHC) last issued its earnings results on Friday, August 4th. The company reported $0.70 earnings per share for the quarter. National HealthCare had a return on equity of 6.26% and a net margin of 4.41%. The firm had revenue of $239.46 million for the quarter. Equities research analysts expect that National HealthCare Co. will post $2.54 EPS for the current year.
National HealthCare declared that its board has initiated a stock buyback program on Wednesday, August 9th that allows the company to repurchase $25.00 million in shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, September 29th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 2.97%. The ex-dividend date is Thursday, September 28th. National HealthCare’s dividend payout ratio is presently 52.94%.
In other National HealthCare news, SVP Jeffrey Russell Smith sold 1,848 shares of the stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $62.78, for a total value of $116,017.44. Following the sale, the senior vice president now directly owns 3,111 shares of the company’s stock, valued at $195,308.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
National HealthCare Company Profile
National HealthCare Corporation (NHC) is engaged in the operation of skilled nursing facilities, assisted living facilities, independent living facilities and homecare programs. The Company is engaged in the post-acute healthcare industry segment. Its business activities include providing sub-acute and post-acute skilled nursing care, intermediate nursing care, rehabilitative care, memory and Alzheimer’s care, senior living services, and home healthcare services.
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