Principal Financial Group Inc. Has $3.86 Million Stake in Healthcare Services Group, Inc. (NASDAQ:HCSG)

Principal Financial Group Inc. cut its position in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 4.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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.

Other large investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its position 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 valued at $30,000 after acquiring an additional 2,428 shares during the period. Headlands Technologies LLC grew its position in Healthcare Services Group by 44.4% during the second quarter. Headlands Technologies LLC now owns 3,107 shares of the business services provider’s stock worth $33,000 after buying an additional 955 shares in the last quarter. Financial Management Professionals Inc. increased its position in shares of Healthcare Services Group by 85.7% in the third 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 increased its holdings in Healthcare Services Group by 1,017.5% in the 3rd 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 acquired a new stake in shares of Healthcare Services Group during the 3rd quarter worth approximately $116,000. Institutional investors own 97.97% of the company’s stock.

Healthcare Services Group Stock Performance

NASDAQ:HCSG opened at $11.46 on Friday. Healthcare Services Group, Inc. has a fifty-two week low of $8.98 and a fifty-two week high of $13.00. The company has a 50 day simple moving average of $11.81 and a two-hundred day simple moving average of $11.14. The company has a market capitalization of $839.91 million, a PE ratio of 16.61 and a beta of 0.55.

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Benchmark restated a “buy” rating and set a $17.00 target price on shares of Healthcare Services Group in a research note on Thursday, December 19th. Macquarie began coverage on Healthcare Services Group in a research report on Monday, December 16th. They issued a “neutral” rating and a $13.00 target price for the company. Robert W. Baird reduced their price target on Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, October 24th. Finally, StockNews.com lowered shares of Healthcare Services Group from a “buy” rating to a “hold” rating in a report on Saturday, December 14th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Healthcare Services Group currently has an average rating of “Hold” and a consensus price target of $13.80.

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.