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

Principal Financial Group Inc. reduced its stake in Healthcare Services Group, Inc. (NASDAQ:HCSG) by 4.8% in the third quarter, HoldingsChannel reports. 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.’s holdings in Healthcare Services Group were worth $3,864,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Cerity Partners LLC bought a new position in shares of Healthcare Services Group during the third quarter valued at about $9,166,000. Foundry Partners LLC increased its stake in Healthcare Services Group by 86.5% in the 3rd quarter. Foundry Partners LLC now owns 807,031 shares of the business services provider’s stock valued at $9,015,000 after buying an additional 374,301 shares during the last quarter. Royce & Associates LP grew its holdings in shares of Healthcare Services Group by 7.0% in the third quarter. Royce & Associates LP now owns 4,449,496 shares of the business services provider’s stock valued at $49,701,000 after acquiring an additional 290,621 shares in the last quarter. Invenomic Capital Management LP purchased a new stake in shares of Healthcare Services Group during the third quarter valued at approximately $3,217,000. Finally, State Street Corp increased its position in shares of Healthcare Services Group by 8.3% during the third quarter. State Street Corp now owns 2,964,325 shares of the business services provider’s stock valued at $33,112,000 after acquiring an additional 226,818 shares during the last quarter. 97.97% of the stock is owned by hedge funds and other institutional investors.

Healthcare Services Group Stock Performance

NASDAQ:HCSG opened at $11.46 on Friday. The firm has a market cap of $839.91 million, a price-to-earnings ratio of 16.61 and a beta of 0.55. Healthcare Services Group, Inc. has a 52-week low of $8.98 and a 52-week high of $13.00. The business’s fifty day moving average is $11.81 and its 200 day moving average is $11.14.

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on HCSG. Robert W. Baird decreased their target price on Healthcare Services Group from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, October 24th. Benchmark restated a “buy” rating and set a $17.00 price objective on shares of Healthcare Services Group in a report on Thursday, December 19th. StockNews.com downgraded shares of Healthcare Services Group from a “buy” rating to a “hold” rating in a research report on Saturday, December 14th. Finally, Macquarie assumed coverage on shares of Healthcare Services Group in a report on Monday, December 16th. They issued a “neutral” rating and a $13.00 price target on the stock. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Healthcare Services Group currently has a consensus rating of “Hold” and a consensus price target of $13.80.

Healthcare Services Group Company Profile

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.