23,008 Shares of National HealthCare Corporation $NHC Acquired by Bank of America Corp DE

Key Points

• Bank of America acquired 23,008 shares of National HealthCare during the second quarter, worth approximately $4.86 million and representing about 0.15% of the company. Institutional investors collectively own 56.44% of NHC.
• National HealthCare reported quarterly revenue of $408.03 million and earnings of $1.74 per share, while its stock recently traded near $225.97, close to its 52-week high.
• The company declared a quarterly dividend of $0.67 per share, or $2.68 annualized, yielding approximately 1.2%. Meanwhile, company insiders sold 17,645 shares worth nearly $4.0 million over the past 90 days.

Bank of America Corp DE purchased a new stake in shares of National HealthCare Corporation (NYSEAMERICAN:NHC - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 23,008 shares of the company's stock, valued at approximately $4,863,000. Bank of America Corp DE owned approximately 0.15% of National HealthCare at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in National HealthCare during the second quarter worth about $417,602,000. Morgan Stanley Institutional Investment Advisors LLC lifted its stake in National HealthCare by 38.6% in the fourth quarter. Morgan Stanley Institutional Investment Advisors LLC now owns 1,038,787 shares of the company's stock worth $142,407,000 after purchasing an additional 289,566 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of National HealthCare by 45.4% in the 1st quarter. First Trust Advisors LP now owns 530,302 shares of the company's stock valued at $84,689,000 after acquiring an additional 165,615 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in National HealthCare in the second quarter valued at approximately $25,854,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in National HealthCare by 407.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 75,257 shares of the company's stock valued at $12,019,000 after buying an additional 60,420 shares during the period. Institutional investors own 56.44% of the company's stock.

Insider Buying and Selling

In related news, CEO Stephen Fowler Flatt sold 1,500 shares of the firm's stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $237.08, for a total transaction of $355,620.00. Following the completion of the transaction, the chief executive officer owned 65,487 shares of the company's stock, valued at $15,525,657.96. This trade represents a 2.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Josh A. Mccreary sold 2,719 shares of National HealthCare stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $224.23, for a total value of $609,681.37. Following the completion of the transaction, the vice president directly owned 9,979 shares of the company's stock, valued at approximately $2,237,591.17. This represents a 21.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 17,645 shares of company stock valued at $3,991,668 over the last 90 days. 13.92% of the stock is currently owned by company insiders.

National HealthCare Trading Down 0.6%

National HealthCare stock opened at $225.97 on Tuesday. The firm has a market cap of $3.54 billion, a P/E ratio of 25.42 and a beta of 0.62. National HealthCare Corporation has a 1-year low of $116.42 and a 1-year high of $239.29. The firm has a 50-day moving average of $223.86 and a 200-day moving average of $198.76.

National HealthCare (NYSEAMERICAN:NHC - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $1.74 earnings per share (EPS) for the quarter. National HealthCare had a return on equity of 10.03% and a net margin of 9.00%.The firm had revenue of $408.03 million for the quarter.

National HealthCare Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $0.67 per share. The ex-dividend date is Wednesday, September 30th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 1.2%. National HealthCare's dividend payout ratio is 61.89%.

About National HealthCare

National HealthCare Corporation (NHC) is a provider of post-acute health care and senior living services headquartered in Murfreesboro, Tennessee. The company operates skilled nursing and rehabilitation centers, assisted living and retirement communities, and other services designed to support patients and residents who need short-term recovery, long-term care or assistance with daily living.

NHC also provides home health, hospice and palliative care, behavioral health services, and pharmacy services.

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