Allspring Global Investments Holdings LLC Sells 32,257 Shares of National HealthCare Co. (NYSE:NHC)

Allspring Global Investments Holdings LLC cut its stake in National HealthCare Co. (NYSE:NHC) by 50.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,183 shares of the company’s stock after selling 32,257 shares during the period. Allspring Global Investments Holdings LLC owned 0.21% of National HealthCare worth $3,011,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Bessemer Group Inc. boosted its holdings in shares of National HealthCare by 396.3% during the 4th quarter. Bessemer Group Inc. now owns 268 shares of the company’s stock worth $29,000 after buying an additional 214 shares in the last quarter. Sterling Capital Management LLC boosted its holdings in shares of National HealthCare by 809.1% during the 4th quarter. Sterling Capital Management LLC now owns 400 shares of the company’s stock worth $43,000 after buying an additional 356 shares in the last quarter. State of Wyoming bought a new position in shares of National HealthCare during the 4th quarter worth approximately $93,000. RWA Wealth Partners LLC boosted its holdings in shares of National HealthCare by 16.7% during the 4th quarter. RWA Wealth Partners LLC now owns 2,100 shares of the company’s stock worth $226,000 after buying an additional 300 shares in the last quarter. Finally, ClearAlpha Technologies LP bought a new position in shares of National HealthCare during the 4th quarter worth approximately $236,000. 56.44% of the stock is currently owned by institutional investors.

National HealthCare Price Performance

Shares of NYSE:NHC opened at $108.44 on Monday. The company has a quick ratio of 1.77, a current ratio of 1.80 and a debt-to-equity ratio of 0.14. National HealthCare Co. has a twelve month low of $89.14 and a twelve month high of $138.49. The stock’s 50 day moving average is $103.46 and its 200-day moving average is $99.42. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 13.59 and a beta of 0.55.

National HealthCare Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Monday, June 30th will be given a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.36%. This is a positive change from National HealthCare’s previous quarterly dividend of $0.61. The ex-dividend date is Monday, June 30th. National HealthCare’s dividend payout ratio is presently 36.99%.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded National HealthCare from a “buy” rating to a “strong-buy” rating in a report on Monday, May 12th.

National HealthCare Profile

National HealthCare Corporation engages in the operation of services to skilled nursing facilities, assisted and independent living facilities, homecare and hospice agencies, and health hospitals. Its skilled nursing facilities offer licensed therapy services, nutrition services, social services, activities, and housekeeping and laundry services, as well as medical services prescribed by physicians; and rehabilitative services, such as physical, speech, respiratory, and occupational therapy for patients recovering from strokes, heart attacks, orthopedic conditions, neurological illnesses, or other illnesses, injuries, or disabilities.