Envestnet Asset Management Inc. Grows Holdings in Healthcare Services Group, Inc. (NASDAQ:HCSG)

Envestnet Asset Management Inc. grew its holdings in shares of Healthcare Services Group, Inc. (NASDAQ:HCSGGet Rating) by 5.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 167,141 shares of the business services provider’s stock after buying an additional 9,061 shares during the quarter. Envestnet Asset Management Inc. owned 0.23% of Healthcare Services Group worth $2,910,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. BlackRock Inc. boosted its stake in shares of Healthcare Services Group by 0.5% during the 1st quarter. BlackRock Inc. now owns 11,772,443 shares of the business services provider’s stock valued at $218,614,000 after buying an additional 61,478 shares during the last quarter. State Street Corp boosted its stake in shares of Healthcare Services Group by 54.1% during the 1st quarter. State Street Corp now owns 4,065,246 shares of the business services provider’s stock valued at $75,492,000 after buying an additional 1,427,064 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Healthcare Services Group by 604.0% during the 1st quarter. Invesco Ltd. now owns 2,278,042 shares of the business services provider’s stock valued at $42,303,000 after buying an additional 1,954,436 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Healthcare Services Group by 17.0% during the 1st quarter. American Century Companies Inc. now owns 2,079,771 shares of the business services provider’s stock valued at $38,621,000 after buying an additional 302,487 shares during the last quarter. Finally, Royce & Associates LP boosted its stake in shares of Healthcare Services Group by 129.3% during the 1st quarter. Royce & Associates LP now owns 1,594,251 shares of the business services provider’s stock valued at $29,605,000 after buying an additional 899,037 shares during the last quarter.

Healthcare Services Group Price Performance

Shares of NASDAQ HCSG opened at $14.38 on Wednesday. Healthcare Services Group, Inc. has a 1-year low of $11.97 and a 1-year high of $20.54. The business’s fifty day moving average price is $13.34 and its two-hundred day moving average price is $15.11. The firm has a market capitalization of $1.07 billion, a PE ratio of 53.26 and a beta of 0.34.

Healthcare Services Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 22nd. Shareholders of record on Friday, November 18th will be given a $0.215 dividend. The ex-dividend date of this dividend is Thursday, November 17th. This is a positive change from Healthcare Services Group’s previous quarterly dividend of $0.21. This represents a $0.86 annualized dividend and a yield of 5.98%. Healthcare Services Group’s dividend payout ratio (DPR) is currently 318.52%.

Wall Street Analyst Weigh In

HCSG has been the topic of several research analyst reports. StockNews.com cut Healthcare Services Group from a “hold” rating to a “sell” rating in a research note on Monday, October 24th. Credit Suisse Group reduced their price objective on Healthcare Services Group from $15.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, October 20th. Benchmark upgraded Healthcare Services Group from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Thursday, October 20th. Royal Bank of Canada reduced their price objective on Healthcare Services Group from $17.00 to $14.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 20th. Finally, Robert W. Baird reduced their price objective on Healthcare Services Group from $23.00 to $15.00 in a research note on Thursday, July 21st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $14.50.

Healthcare Services Group Profile

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Healthcare Services Group, Inc provides management, administrative, and operating services to the housekeeping, laundry, linen, facility maintenance, and dietary service departments of 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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