Healthcare Services Group, Inc. $HCSG Position Increased by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its holdings in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 46.6% during the third quarter, Holdings Channel reports. The firm owned 553,663 shares of the business services provider’s stock after acquiring an additional 175,880 shares during the quarter. JPMorgan Chase & Co.’s holdings in Healthcare Services Group were worth $9,318,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of HCSG. Public Sector Pension Investment Board grew its position in shares of Healthcare Services Group by 35.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 336,483 shares of the business services provider’s stock valued at $5,663,000 after buying an additional 87,847 shares during the last quarter. LSV Asset Management bought a new position in Healthcare Services Group in the third quarter worth about $108,000. Allianz Asset Management GmbH boosted its stake in Healthcare Services Group by 229.4% in the third quarter. Allianz Asset Management GmbH now owns 164,380 shares of the business services provider’s stock valued at $2,767,000 after acquiring an additional 114,482 shares during the period. State of Wyoming boosted its stake in Healthcare Services Group by 230.3% in the third quarter. State of Wyoming now owns 51,949 shares of the business services provider’s stock valued at $874,000 after acquiring an additional 36,221 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of Healthcare Services Group by 26.6% during the 3rd quarter. Principal Financial Group Inc. now owns 457,752 shares of the business services provider’s stock worth $7,704,000 after purchasing an additional 96,103 shares during the period. 97.97% of the stock is currently owned by institutional investors.

Insider Transactions at Healthcare Services Group

In other news, EVP John Christopher Shea sold 54,357 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $20.41, for a total value of $1,109,426.37. Following the completion of the transaction, the executive vice president owned 29,292 shares of the company’s stock, valued at approximately $597,849.72. This represents a 64.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Andrew M. Brophy sold 2,490 shares of the firm’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $21.75, for a total value of $54,157.50. Following the transaction, the chief accounting officer directly owned 15,735 shares in the company, valued at $342,236.25. This trade represents a 13.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 146,962 shares of company stock valued at $3,014,100. 2.60% of the stock is currently owned by corporate insiders.

Healthcare Services Group Trading Down 1.6%

Shares of NASDAQ HCSG opened at $20.65 on Friday. The stock has a 50 day simple moving average of $19.84 and a 200-day simple moving average of $18.16. The company has a market cap of $1.45 billion, a PE ratio of 25.18 and a beta of 0.73. Healthcare Services Group, Inc. has a 12-month low of $9.13 and a 12-month high of $22.98.

Healthcare Services Group (NASDAQ:HCSG) last issued its quarterly earnings data on Wednesday, February 11th. The business services provider reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.21. The business had revenue of $466.68 million during the quarter, compared to analyst estimates of $467.24 million. Healthcare Services Group had a return on equity of 16.04% and a net margin of 3.21%.The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.16 EPS. Sell-side analysts forecast that Healthcare Services Group, Inc. will post 0.74 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on HCSG. Benchmark reissued a “buy” rating on shares of Healthcare Services Group in a report on Thursday, February 12th. Macquarie Infrastructure reaffirmed a “buy” rating on shares of Healthcare Services Group in a research report on Wednesday, November 26th. UBS Group set a $25.00 target price on Healthcare Services Group and gave the stock a “buy” rating in a research report on Thursday, February 12th. Royal Bank Of Canada assumed coverage on Healthcare Services Group in a research note on Tuesday. They issued a “sector perform” rating and a $22.00 target price on the stock. Finally, William Blair upgraded shares of Healthcare Services Group from a “market perform” rating to an “outperform” rating in a research report on Friday, February 20th. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $22.00.

About Healthcare Services Group

Healthcare Services Group, Inc (NASDAQ: HCSG) is a leading provider of support services to healthcare facilities across the United States. The company specializes in environmental services, including housekeeping and sanitation, as well as linen and laundry management. In addition, Healthcare Services Group offers dietary and nutrition services, catering to hospitals, skilled nursing facilities, assisted living communities and other long-term care providers.

Founded as a family-owned business in the late 1970s, the company completed its initial public offering in 1997.