Principal Financial Group Inc. Acquires 10,541 Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG)

Principal Financial Group Inc. raised its position in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 3.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 365,960 shares of the business services provider’s stock after acquiring an additional 10,541 shares during the period. Principal Financial Group Inc. owned approximately 0.50% of Healthcare Services Group worth $3,689,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in shares of Healthcare Services Group during the fourth quarter valued at about $5,909,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Healthcare Services Group by 47.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 117,127 shares of the business services provider’s stock valued at $1,360,000 after acquiring an additional 37,767 shares during the period. Corient Private Wealth LLC boosted its holdings in shares of Healthcare Services Group by 18.0% in the 4th quarter. Corient Private Wealth LLC now owns 268,596 shares of the business services provider’s stock valued at $3,120,000 after acquiring an additional 41,015 shares during the last quarter. Intech Investment Management LLC grew its stake in shares of Healthcare Services Group by 118.8% during the 4th quarter. Intech Investment Management LLC now owns 30,610 shares of the business services provider’s stock worth $356,000 after purchasing an additional 16,618 shares during the period. Finally, Teacher Retirement System of Texas grew its stake in shares of Healthcare Services Group by 23.2% during the 4th quarter. Teacher Retirement System of Texas now owns 455,322 shares of the business services provider’s stock worth $5,289,000 after purchasing an additional 85,790 shares during the period. Institutional investors own 97.97% of the company’s stock.

Healthcare Services Group Price Performance

Healthcare Services Group stock opened at $12.99 on Friday. The stock’s 50-day moving average is $14.42 and its 200-day moving average is $12.28. The company has a market cap of $947.23 million, a price-to-earnings ratio of 23.20 and a beta of 0.57. Healthcare Services Group, Inc. has a 12 month low of $9.13 and a 12 month high of $15.73.

Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings results on Wednesday, April 23rd. The business services provider reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.05. The business had revenue of $447.66 million for the quarter, compared to the consensus estimate of $443.82 million. Healthcare Services Group had a return on equity of 11.68% and a net margin of 2.38%. The business’s revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the business posted $0.22 EPS. Research analysts anticipate that Healthcare Services Group, Inc. will post 0.74 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on HCSG shares. Macquarie raised their price objective on Healthcare Services Group from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Monday, April 28th. Wall Street Zen raised Healthcare Services Group from a “hold” rating to a “buy” rating in a research report on Friday, April 25th. Robert W. Baird boosted their price objective on Healthcare Services Group from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Thursday, April 24th. Finally, UBS Group upgraded Healthcare Services Group from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $12.00 to $15.00 in a research note on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Healthcare Services Group presently has an average rating of “Moderate Buy” and an average target price of $14.80.

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