Municipal Employees Retirement System of Michigan grew its holdings in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 44.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,310 shares of the business services provider’s stock after purchasing an additional 10,290 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Healthcare Services Group were worth $1,797,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Healthcare Services Group by 9.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,700 shares of the business services provider’s stock worth $126,000 after purchasing an additional 242 shares during the period. LS Investment Advisors LLC increased its position in Healthcare Services Group by 4.0% during the 2nd quarter. LS Investment Advisors LLC now owns 2,834 shares of the business services provider’s stock worth $133,000 after purchasing an additional 108 shares during the period. Public Employees Retirement System of Ohio increased its position in Healthcare Services Group by 4.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 3,005 shares of the business services provider’s stock worth $141,000 after purchasing an additional 135 shares during the period. Bruderman Asset Management LLC acquired a new position in Healthcare Services Group during the 2nd quarter worth approximately $170,000. Finally, Riverhead Capital Management LLC increased its position in Healthcare Services Group by 69.1% during the 2nd quarter. Riverhead Capital Management LLC now owns 4,059 shares of the business services provider’s stock worth $190,000 after purchasing an additional 1,659 shares during the period. Institutional investors own 91.03% of the company’s stock.

HCSG has been the topic of several recent analyst reports. Zacks Investment Research cut Healthcare Services Group from a “buy” rating to a “hold” rating in a research report on Tuesday, September 12th. BidaskClub raised Healthcare Services Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 19th. Stifel Nicolaus reissued a “buy” rating on shares of Healthcare Services Group in a research note on Thursday, October 19th. Robert W. Baird reissued a “buy” rating and set a $52.00 price target on shares of Healthcare Services Group in a research note on Wednesday, October 4th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $49.00 price target on shares of Healthcare Services Group in a research note on Tuesday, August 22nd. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $54.80.

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In other news, insider Michael E. Mcbryan sold 22,500 shares of the company’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $53.03, for a total transaction of $1,193,175.00. Following the completion of the sale, the insider now directly owns 14,413 shares in the company, valued at approximately $764,321.39. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michael E. Mcbryan sold 800 shares of the company’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $53.00, for a total value of $42,400.00. Following the sale, the executive vice president now owns 14,413 shares of the company’s stock, valued at $763,889. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,800 shares of company stock valued at $1,362,450. Insiders own 4.30% of the company’s stock.

Shares of Healthcare Services Group, Inc. (NASDAQ HCSG) opened at $49.77 on Thursday. The company has a market capitalization of $3,682.70, a price-to-earnings ratio of 42.24, a PEG ratio of 3.68 and a beta of 0.64. Healthcare Services Group, Inc. has a twelve month low of $37.34 and a twelve month high of $55.68.

Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings data on Tuesday, October 17th. The business services provider reported $0.31 EPS for the quarter, hitting analysts’ consensus estimates of $0.31. The business had revenue of $491.40 million during the quarter, compared to the consensus estimate of $485.53 million. Healthcare Services Group had a return on equity of 24.17% and a net margin of 5.00%. The business’s revenue for the quarter was up 25.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.27 EPS. research analysts forecast that Healthcare Services Group, Inc. will post 1.24 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Stockholders of record on Friday, November 17th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.53%. This is an increase from Healthcare Services Group’s previous quarterly dividend of $0.19. The ex-dividend date is Thursday, November 16th. Healthcare Services Group’s dividend payout ratio is presently 63.03%.

Healthcare Services Group 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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