National HealthCare Co. (NYSE:NHC) Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC lowered its position in shares of National HealthCare Co. (NYSE:NHC - Free Report) by 38.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,863 shares of the company's stock after selling 13,645 shares during the period. Lazard Asset Management LLC owned about 0.14% of National HealthCare worth $2,351,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Pinnacle Financial Partners Inc increased its position in National HealthCare by 0.9% in the 4th quarter. Pinnacle Financial Partners Inc now owns 15,597 shares of the company's stock valued at $1,678,000 after acquiring an additional 145 shares during the period. Exchange Traded Concepts LLC increased its position in National HealthCare by 2.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 5,798 shares of the company's stock valued at $624,000 after acquiring an additional 145 shares during the period. Bessemer Group Inc. increased its position in National HealthCare by 396.3% in the 4th quarter. Bessemer Group Inc. now owns 268 shares of the company's stock valued at $29,000 after acquiring an additional 214 shares during the period. RWA Wealth Partners LLC increased its position in National HealthCare by 16.7% in the 4th quarter. RWA Wealth Partners LLC now owns 2,100 shares of the company's stock valued at $226,000 after acquiring an additional 300 shares during the period. Finally, Sei Investments Co. increased its position in National HealthCare by 3.7% in the 4th quarter. Sei Investments Co. now owns 9,618 shares of the company's stock valued at $1,035,000 after acquiring an additional 340 shares during the period. Institutional investors and hedge funds own 56.44% of the company's stock.

National HealthCare Stock Performance

NHC stock traded up $0.74 during trading on Friday, hitting $102.33. The company had a trading volume of 26,012 shares, compared to its average volume of 56,514. The firm has a market cap of $1.58 billion, a PE ratio of 12.82 and a beta of 0.51. National HealthCare Co. has a 1-year low of $89.14 and a 1-year high of $138.49. The firm has a 50-day moving average price of $95.53 and a 200-day moving average price of $103.84. 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 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Monday, June 30th will be given a dividend of $0.64 per share. This is a boost from National HealthCare's previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.56 annualized dividend and a yield of 2.50%. National HealthCare's payout ratio is presently 36.99%.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded 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.