Municipal Employees Retirement System of Michigan boosted its position in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 38.8% during the second quarter, Holdings Channel reports. The fund owned 23,020 shares of the business services provider’s stock after buying an additional 6,440 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Healthcare Services Group were worth $1,078,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. LS Investment Advisors LLC boosted its position in shares of Healthcare Services Group by 4.0% in the second quarter. LS Investment Advisors LLC now owns 2,834 shares of the business services provider’s stock worth $133,000 after buying an additional 108 shares during the last quarter. HighTower Advisors LLC purchased a new position in shares of Healthcare Services Group during the first quarter worth approximately $202,000. Emerald Advisers Inc. PA purchased a new position in shares of Healthcare Services Group during the first quarter worth approximately $204,000. Harfst & Associates Inc. purchased a new position in shares of Healthcare Services Group during the first quarter worth approximately $206,000. Finally, Everence Capital Management Inc. purchased a new position in shares of Healthcare Services Group during the first quarter worth approximately $213,000. 93.40% of the stock is owned by institutional investors and hedge funds.

Healthcare Services Group, Inc. (HCSG) opened at 51.04 on Friday. The firm has a market cap of $3.74 billion, a PE ratio of 44.77 and a beta of 0.61. The firm’s 50 day moving average price is $50.34 and its 200-day moving average price is $45.57. Healthcare Services Group, Inc. has a one year low of $34.83 and a one year high of $54.28.

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

The company also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, August 18th will be paid a dividend of $0.1888 per share. This is a positive change from Healthcare Services Group’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $0.76 annualized dividend and a dividend yield of 1.48%. Healthcare Services Group’s payout ratio is 65.22%.

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HCSG has been the subject of a number of research analyst reports. Stifel Nicolaus increased their target price on Healthcare Services Group from $46.00 to $48.00 and gave the company a “buy” rating in a report on Monday, May 1st. BidaskClub cut Healthcare Services Group from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 3rd. Zacks Investment Research raised Healthcare Services Group from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a report on Friday, July 14th. Jefferies Group LLC reissued a “hold” rating and set a $49.00 target price on shares of Healthcare Services Group in a report on Friday, July 7th. Finally, Robert W. Baird increased their target price on Healthcare Services Group from $47.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, July 12th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $53.00.

In related news, Director Robert L. Frome sold 7,485 shares of Healthcare Services Group stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $47.00, for a total transaction of $351,795.00. Following the completion of the transaction, the director now directly owns 37,986 shares in the company, valued at approximately $1,785,342. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Briggs sold 2,500 shares of Healthcare Services Group stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $47.52, for a total value of $118,800.00. Following the transaction, the director now owns 22,017 shares of the company’s stock, valued at $1,046,247.84. The disclosure for this sale can be found here. Insiders have sold a total of 49,235 shares of company stock worth $2,494,065 in the last three months. Corporate insiders own 4.30% of the company’s stock.

Healthcare Services Group Company Profile

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.

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

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