PNC Financial Services Group Inc. Sells 4,455 Shares of Healthcare Services Group, Inc. (HCSG)

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PNC Financial Services Group Inc. trimmed its stake in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 5.2% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 81,491 shares of the business services provider’s stock after selling 4,455 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.11% of Healthcare Services Group worth $3,543,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. TimesSquare Capital Management LLC increased its holdings in shares of Healthcare Services Group by 2.0% during the fourth quarter. TimesSquare Capital Management LLC now owns 779,780 shares of the business services provider’s stock valued at $41,110,000 after purchasing an additional 15,500 shares during the period. Swiss National Bank increased its holdings in shares of Healthcare Services Group by 2.4% during the fourth quarter. Swiss National Bank now owns 124,663 shares of the business services provider’s stock valued at $6,572,000 after purchasing an additional 2,900 shares during the period. Pinebridge Investments L.P. increased its holdings in shares of Healthcare Services Group by 165.9% during the fourth quarter. Pinebridge Investments L.P. now owns 24,145 shares of the business services provider’s stock valued at $1,273,000 after purchasing an additional 15,063 shares during the period. Deutsche Bank AG increased its holdings in shares of Healthcare Services Group by 39.7% during the fourth quarter. Deutsche Bank AG now owns 188,702 shares of the business services provider’s stock valued at $9,945,000 after purchasing an additional 53,647 shares during the period. Finally, Ramsey Quantitative Systems acquired a new position in shares of Healthcare Services Group during the fourth quarter valued at $242,000. Institutional investors own 97.92% of the company’s stock.

Healthcare Services Group opened at $41.70 on Wednesday, MarketBeat.com reports. The stock has a market cap of $2.88 billion, a P/E ratio of 35.04, a PEG ratio of 2.31 and a beta of 0.81. Healthcare Services Group, Inc. has a 52-week low of $35.04 and a 52-week high of $56.20.

Healthcare Services Group (NASDAQ:HCSG) last released its earnings results on Tuesday, April 17th. The business services provider reported $0.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.38). Healthcare Services Group had a return on equity of 16.99% and a net margin of 3.38%. The firm had revenue of $501.81 million for the quarter, compared to analyst estimates of $505.44 million. During the same period in the previous year, the firm earned $0.30 earnings per share. Healthcare Services Group’s revenue was up 24.1% on a year-over-year basis. analysts anticipate that Healthcare Services Group, Inc. will post 1.54 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, May 25th will be given a $0.1925 dividend. This is a positive change from Healthcare Services Group’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Thursday, May 24th. This represents a $0.77 dividend on an annualized basis and a dividend yield of 1.85%. Healthcare Services Group’s dividend payout ratio (DPR) is 64.71%.

In related news, Director Dino D. Ottaviano sold 1,500 shares of the stock in a transaction on Friday, March 16th. The stock was sold at an average price of $45.15, for a total value of $67,725.00. Following the completion of the transaction, the director now owns 2,044 shares in the company, valued at approximately $92,286.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert J. Moss sold 2,000 shares of the stock in a transaction on Monday, March 19th. The shares were sold at an average price of $44.50, for a total value of $89,000.00. Following the completion of the transaction, the director now owns 2,000 shares of the company’s stock, valued at approximately $89,000. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

HCSG has been the topic of a number of research analyst reports. Credit Suisse Group lowered their price target on Healthcare Services Group from $62.00 to $48.00 and set an “outperform” rating on the stock in a report on Wednesday, April 18th. Jefferies Financial Group set a $40.00 target price on Healthcare Services Group and gave the stock a “hold” rating in a report on Tuesday, April 17th. ValuEngine lowered Healthcare Services Group from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 2nd. Zacks Investment Research lowered Healthcare Services Group from a “hold” rating to a “sell” rating in a report on Wednesday, April 25th. Finally, BidaskClub lowered Healthcare Services Group from a “sell” rating to a “strong sell” rating in a report on Tuesday, February 27th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $46.33.

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 to nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States. It operates through two segments, Housekeeping and Dietary.

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Institutional Ownership by Quarter for Healthcare Services Group (NASDAQ:HCSG)

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