National HealthCare Co. (NYSE:NHC) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its stake in shares of National HealthCare Co. (NYSE:NHC - Free Report) by 50.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,183 shares of the company's stock after selling 32,257 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.21% of National HealthCare worth $3,011,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NHC. Bessemer Group Inc. raised its stake in National HealthCare by 396.3% in the fourth quarter. Bessemer Group Inc. now owns 268 shares of the company's stock valued at $29,000 after buying an additional 214 shares during the last quarter. Sterling Capital Management LLC raised its stake in National HealthCare by 809.1% in the fourth quarter. Sterling Capital Management LLC now owns 400 shares of the company's stock valued at $43,000 after buying an additional 356 shares during the last quarter. State of Wyoming purchased a new stake in National HealthCare in the fourth quarter valued at about $93,000. RWA Wealth Partners LLC raised its stake in National HealthCare by 16.7% in the fourth quarter. RWA Wealth Partners LLC now owns 2,100 shares of the company's stock valued at $226,000 after buying an additional 300 shares during the last quarter. Finally, ClearAlpha Technologies LP purchased a new stake in National HealthCare in the fourth quarter valued at about $236,000. 56.44% of the stock is currently owned by hedge funds and other institutional investors.

National HealthCare Stock Performance

National HealthCare stock traded up $0.29 during midday trading on Thursday, hitting $104.03. 66,526 shares of the company were exchanged, compared to its average volume of 59,639. The firm has a market capitalization of $1.61 billion, a PE ratio of 13.04 and a beta of 0.55. National HealthCare Co. has a fifty-two week low of $89.14 and a fifty-two week high of $138.49. The business has a fifty day simple moving average of $103.95 and a two-hundred day simple moving average of $99.42. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.77 and a current ratio of 1.80.

National HealthCare Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Monday, June 30th will be issued a $0.64 dividend. This is a positive change from National HealthCare's previous quarterly dividend of $0.61. This represents a $2.56 annualized dividend and a yield of 2.46%. The ex-dividend date is Monday, June 30th. National HealthCare's dividend payout ratio (DPR) is presently 36.99%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded National HealthCare from a "buy" rating to a "strong-buy" rating in a research note on Monday, May 12th.

National HealthCare Profile

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.