Sovereign s Capital Management LLC Takes Position in National HealthCare Co. (NYSE:NHC)

Sovereign s Capital Management LLC purchased a new stake in shares of National HealthCare Co. (NYSE:NHC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 24,470 shares of the company's stock, valued at approximately $2,632,000. National HealthCare accounts for approximately 1.7% of Sovereign s Capital Management LLC's holdings, making the stock its 24th biggest holding. Sovereign s Capital Management LLC owned about 0.16% of National HealthCare at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Northern Trust Corp grew its stake in shares of National HealthCare by 4.8% during the fourth quarter. Northern Trust Corp now owns 193,792 shares of the company's stock worth $20,844,000 after purchasing an additional 8,795 shares in the last quarter. Invesco Ltd. lifted its position in National HealthCare by 2.8% in the fourth quarter. Invesco Ltd. now owns 164,911 shares of the company's stock valued at $17,738,000 after acquiring an additional 4,435 shares during the last quarter. Systematic Financial Management LP lifted its position in National HealthCare by 3.5% in the fourth quarter. Systematic Financial Management LP now owns 117,884 shares of the company's stock valued at $12,680,000 after acquiring an additional 3,962 shares during the last quarter. Principal Financial Group Inc. lifted its position in National HealthCare by 3.5% in the fourth quarter. Principal Financial Group Inc. now owns 63,739 shares of the company's stock valued at $6,856,000 after acquiring an additional 2,140 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in National HealthCare by 46.6% in the fourth quarter. JPMorgan Chase & Co. now owns 63,145 shares of the company's stock valued at $6,792,000 after acquiring an additional 20,072 shares during the last quarter. Hedge funds and other institutional investors own 56.44% of the company's stock.

National HealthCare Stock Performance

NHC traded down $1.69 on Thursday, reaching $101.59. The company had a trading volume of 26,393 shares, compared to its average volume of 56,830. National HealthCare Co. has a 1 year low of $89.14 and a 1 year high of $138.49. The stock has a market capitalization of $1.57 billion, a PE ratio of 12.73 and a beta of 0.51. The company has a quick ratio of 1.77, a current ratio of 1.80 and a debt-to-equity ratio of 0.14. The stock has a 50-day moving average price of $95.17 and a 200-day moving average price of $104.08.

National HealthCare Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Monday, June 30th will be given a $0.64 dividend. The ex-dividend date is Monday, June 30th. This is a boost from National HealthCare's previous quarterly dividend of $0.61. This represents a $2.56 dividend on an annualized basis and a yield of 2.52%. National HealthCare's payout ratio is 36.99%.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of National HealthCare from a "buy" rating to a "strong-buy" rating in a research report on Monday, May 12th.

About National HealthCare

National HealthCare Corporation engages in the operation of services to skilled nursing facilities, assisted and independent living facilities, homecare and hospice agencies, and health hospitals. Its skilled nursing facilities offer licensed therapy services, nutrition services, social services, activities, and housekeeping and laundry services, as well as medical services prescribed by physicians; and rehabilitative services, such as physical, speech, respiratory, and occupational therapy for patients recovering from strokes, heart attacks, orthopedic conditions, neurological illnesses, or other illnesses, injuries, or disabilities.