Baird Financial Group Inc. Purchases 842 Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG)

Baird Financial Group Inc. lifted its stake in Healthcare Services Group, Inc. (NASDAQ:HCSGGet Rating) by 1.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 49,871 shares of the business services provider’s stock after buying an additional 842 shares during the period. Baird Financial Group Inc.’s holdings in Healthcare Services Group were worth $868,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in HCSG. Invesco Ltd. lifted its stake in shares of Healthcare Services Group by 604.0% in the first 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 period. State Street Corp lifted its stake in shares of Healthcare Services Group by 54.1% in the first 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 period. Royce & Associates LP lifted its stake in Healthcare Services Group by 129.3% during the first quarter. Royce & Associates LP now owns 1,594,251 shares of the business services provider’s stock worth $29,605,000 after purchasing an additional 899,037 shares during the period. Russell Investments Group Ltd. lifted its stake in Healthcare Services Group by 61,014.0% during the first quarter. Russell Investments Group Ltd. now owns 865,985 shares of the business services provider’s stock worth $16,079,000 after purchasing an additional 864,568 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in Healthcare Services Group by 327.4% during the first quarter. Victory Capital Management Inc. now owns 1,016,373 shares of the business services provider’s stock worth $17,370,000 after purchasing an additional 778,559 shares during the period.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. StockNews.com cut shares of Healthcare Services Group from a “hold” rating to a “sell” rating in a research note on Monday, October 24th. Credit Suisse Group dropped their price objective on shares of Healthcare Services Group from $15.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, October 20th. Royal Bank of Canada dropped their price objective on shares of Healthcare Services Group from $17.00 to $14.00 and set a “sector perform” rating for the company in a report on Thursday, October 20th. Finally, Benchmark raised shares of Healthcare Services Group from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Thursday, October 20th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Healthcare Services Group presently has a consensus rating of “Hold” and an average price target of $14.50.

Healthcare Services Group Price Performance

Shares of Healthcare Services Group stock opened at $13.81 on Friday. The firm has a market cap of $1.02 billion, a P/E ratio of 51.15 and a beta of 0.34. The firm has a 50 day simple moving average of $13.34 and a 200 day simple moving average of $15.05. Healthcare Services Group, Inc. has a fifty-two week low of $11.97 and a fifty-two week high of $20.54.

Healthcare Services Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 22nd. Investors of record on Friday, November 18th will be issued a $0.215 dividend. The ex-dividend date of this dividend is Thursday, November 17th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 6.23%. This is a positive change from Healthcare Services Group’s previous quarterly dividend of $0.21. Healthcare Services Group’s dividend payout ratio (DPR) is currently 318.52%.

About Healthcare Services Group

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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.

See Also

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

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