National HealthCare Co. (NYSE:NHC) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in National HealthCare Co. (NYSE:NHC - Free Report) by 5.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 117,870 shares of the company's stock after selling 6,811 shares during the period. Bank of New York Mellon Corp owned approximately 0.76% of National HealthCare worth $10,938,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Summit Global Investments grew its position in shares of National HealthCare by 1.1% in the first quarter. Summit Global Investments now owns 10,745 shares of the company's stock valued at $997,000 after purchasing an additional 114 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of National HealthCare by 2.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,966 shares of the company's stock valued at $964,000 after purchasing an additional 202 shares during the last quarter. Bessemer Group Inc. grew its position in shares of 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 purchasing an additional 214 shares during the last quarter. RWA Wealth Partners LLC grew its position in shares of 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 purchasing an additional 300 shares during the last quarter. Finally, Sei Investments Co. grew its position in shares of National HealthCare by 3.7% in the fourth quarter. Sei Investments Co. now owns 9,618 shares of the company's stock valued at $1,035,000 after purchasing an additional 340 shares during the last quarter. 56.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

National HealthCare Trading Down 1.2%

NYSE NHC traded down $1.12 during mid-day trading on Thursday, reaching $94.48. 52,195 shares of the stock were exchanged, compared to its average volume of 60,625. National HealthCare Co. has a 1-year low of $89.14 and a 1-year high of $138.49. The business's fifty day simple moving average is $103.81 and its 200 day simple moving average is $98.68. The stock has a market capitalization of $1.46 billion, a PE ratio of 11.84 and a beta of 0.55. 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 company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Monday, June 30th will be given a dividend of $0.64 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.56 dividend on an annualized basis and a yield of 2.71%. This is a positive change from National HealthCare's previous quarterly dividend of $0.61. National HealthCare's dividend payout ratio (DPR) is 36.99%.

National HealthCare Company 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.