Principal Financial Group Inc. Boosts Stock Position in Healthcare Services Group, Inc. $HCSG

Principal Financial Group Inc. increased its holdings in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 26.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 457,752 shares of the business services provider’s stock after buying an additional 96,103 shares during the period. Principal Financial Group Inc. owned about 0.65% of Healthcare Services Group worth $7,704,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Trail Ridge Investment Advisors LLC lifted its holdings in Healthcare Services Group by 2.6% during the third quarter. Trail Ridge Investment Advisors LLC now owns 24,309 shares of the business services provider’s stock valued at $409,000 after purchasing an additional 609 shares in the last quarter. Amalgamated Bank raised its position in shares of Healthcare Services Group by 3.4% during the 3rd quarter. Amalgamated Bank now owns 21,563 shares of the business services provider’s stock worth $363,000 after purchasing an additional 719 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Healthcare Services Group by 6.5% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,721 shares of the business services provider’s stock valued at $281,000 after buying an additional 1,135 shares in the last quarter. Police & Firemen s Retirement System of New Jersey boosted its holdings in Healthcare Services Group by 8.3% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 15,925 shares of the business services provider’s stock worth $239,000 after buying an additional 1,224 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Healthcare Services Group by 163.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,186 shares of the business services provider’s stock worth $33,000 after buying an additional 1,356 shares in the last quarter. Hedge funds and other institutional investors own 97.97% of the company’s stock.

Healthcare Services Group Stock Up 1.2%

NASDAQ HCSG opened at $21.59 on Friday. The business’s fifty day simple moving average is $19.26 and its 200-day simple moving average is $17.43. The firm has a market cap of $1.52 billion, a PE ratio of 26.33 and a beta of 0.74. Healthcare Services Group, Inc. has a 52 week low of $9.13 and a 52 week high of $22.98.

Healthcare Services Group (NASDAQ:HCSG) last released its quarterly earnings data on Wednesday, February 11th. The business services provider reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.21. The firm had revenue of $466.68 million during the quarter, compared to analysts’ expectations of $467.24 million. Healthcare Services Group had a net margin of 3.21% and a return on equity of 16.04%. Healthcare Services Group’s revenue was up 6.6% compared to the same quarter last year. During the same period last year, the business earned $0.16 earnings per share. Research analysts expect that Healthcare Services Group, Inc. will post 0.74 EPS for the current year.

Wall Street Analyst Weigh In

HCSG has been the topic of several research reports. UBS Group set a $25.00 target price on Healthcare Services Group and gave the company a “buy” rating in a research report on Thursday. Robert W. Baird set a $23.00 price objective on Healthcare Services Group in a report on Thursday. Macquarie Infrastructure reaffirmed a “buy” rating on shares of Healthcare Services Group in a report on Wednesday, November 26th. BMO Capital Markets reissued a “market perform” rating and issued a $22.00 price target on shares of Healthcare Services Group in a research note on Thursday. Finally, Benchmark restated a “buy” rating on shares of Healthcare Services Group in a research report on Thursday. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Healthcare Services Group presently has a consensus rating of “Hold” and a consensus target price of $22.00.

Healthcare Services Group Profile

Healthcare Services Group, Inc (NASDAQ: HCSG) is a leading provider of support services to healthcare facilities across the United States. The company specializes in environmental services, including housekeeping and sanitation, as well as linen and laundry management. In addition, Healthcare Services Group offers dietary and nutrition services, catering to hospitals, skilled nursing facilities, assisted living communities and other long-term care providers.

Founded as a family-owned business in the late 1970s, the company completed its initial public offering in 1997.