Allspring Global Investments Holdings LLC Sells 32,257 Shares of National HealthCare Co. (NYSE:NHC)

Allspring Global Investments Holdings LLC lowered its holdings in shares of National HealthCare Co. (NYSE:NHC - Free Report) by 50.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,183 shares of the company's stock after selling 32,257 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.21% of National HealthCare worth $3,011,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Northern Trust Corp grew its stake in 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 during the period. Invesco Ltd. grew its stake in National HealthCare by 2.8% during the fourth quarter. Invesco Ltd. now owns 164,911 shares of the company's stock worth $17,738,000 after purchasing an additional 4,435 shares during the period. Systematic Financial Management LP grew its stake in National HealthCare by 3.5% during the fourth quarter. Systematic Financial Management LP now owns 117,884 shares of the company's stock worth $12,680,000 after purchasing an additional 3,962 shares during the period. JPMorgan Chase & Co. grew its stake in National HealthCare by 46.6% during the fourth quarter. JPMorgan Chase & Co. now owns 63,145 shares of the company's stock worth $6,792,000 after purchasing an additional 20,072 shares during the period. Finally, First Trust Advisors LP grew its stake in National HealthCare by 75.6% during the fourth quarter. First Trust Advisors LP now owns 47,062 shares of the company's stock worth $5,062,000 after purchasing an additional 20,268 shares during the period. Institutional investors and hedge funds own 56.44% of the company's stock.

Analyst Upgrades and Downgrades

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

National HealthCare Stock Down 0.7%

NYSE:NHC traded down $0.76 on Tuesday, hitting $103.47. The stock had a trading volume of 63,054 shares, compared to its average volume of 59,927. The business's fifty day moving average is $103.63 and its 200 day moving average is $99.37. The company has a market cap of $1.60 billion, a PE ratio of 12.97 and a beta of 0.55. The company has a quick ratio of 1.77, a current ratio of 1.80 and a debt-to-equity ratio of 0.14. National HealthCare Co. has a 52 week low of $89.14 and a 52 week high of $138.49.

National HealthCare Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.56 annualized dividend and a yield of 2.47%. This is a positive change from National HealthCare's previous quarterly dividend of $0.61. National HealthCare's dividend payout ratio is presently 36.99%.

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.