Principal Financial Group Inc. Sells 17,349 Shares of Healthcare Services Group, Inc. (NASDAQ:HCSG)

Principal Financial Group Inc. lessened its stake in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG) by 4.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 345,927 shares of the business services provider’s stock after selling 17,349 shares during the quarter. Principal Financial Group Inc. owned about 0.47% of Healthcare Services Group worth $3,864,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its stake in shares of Healthcare Services Group by 804.0% in the third quarter. Farther Finance Advisors LLC now owns 2,730 shares of the business services provider’s stock worth $30,000 after purchasing an additional 2,428 shares during the last quarter. Headlands Technologies LLC grew its stake in Healthcare Services Group by 44.4% in the 2nd quarter. Headlands Technologies LLC now owns 3,107 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 955 shares during the period. Financial Management Professionals Inc. raised its stake in shares of Healthcare Services Group by 85.7% during the 3rd quarter. Financial Management Professionals Inc. now owns 8,180 shares of the business services provider’s stock worth $91,000 after purchasing an additional 3,774 shares during the period. International Assets Investment Management LLC grew its position in Healthcare Services Group by 1,017.5% during the third quarter. International Assets Investment Management LLC now owns 10,292 shares of the business services provider’s stock valued at $1,150,000 after buying an additional 9,371 shares during the period. Finally, Bleakley Financial Group LLC purchased a new position in Healthcare Services Group in the third quarter valued at approximately $116,000. 97.97% of the stock is owned by institutional investors.

Healthcare Services Group Stock Up 1.1 %

Shares of NASDAQ HCSG opened at $11.52 on Friday. The firm’s fifty day moving average is $11.00 and its 200 day moving average is $10.89. Healthcare Services Group, Inc. has a 52 week low of $8.98 and a 52 week high of $13.00. The company has a market cap of $844.30 million, a price-to-earnings ratio of 16.78 and a beta of 0.52.

Healthcare Services Group (NASDAQ:HCSG) last announced its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. The company had revenue of $428.10 million for the quarter, compared to the consensus estimate of $429.95 million. Healthcare Services Group had a return on equity of 12.59% and a net margin of 2.95%. Healthcare Services Group’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.17 EPS. Equities research analysts anticipate that Healthcare Services Group, Inc. will post 0.81 earnings per share for the current year.

Wall Street Analyst Weigh In

HCSG has been the subject of several analyst reports. Benchmark reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Healthcare Services Group in a report on Thursday, October 24th. Royal Bank of Canada reduced their price objective on Healthcare Services Group from $15.00 to $14.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Finally, Robert W. Baird cut their price objective on shares of Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Healthcare Services Group presently has an average rating of “Hold” and a consensus price target of $14.00.

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.