Legal & General Group Plc Takes Position in National HealthCare Corporation $NHC

Key Points

• Legal & General Group Plc acquired 31,155 shares of National HealthCare, worth approximately $6.6 million, giving it a 0.20% stake. Institutional investors collectively own 56.44% of NHC.
• National HealthCare reported quarterly revenue of $408.03 million and earnings of $1.74 per share. The company also declared a quarterly dividend of $0.67 per share, representing a 1.2% yield.
• NHC shares opened at $217.34, down 0.7%, while analysts maintain a consensus “Buy” rating. Recent insider activity included stock sales by the CEO and a director.

Legal & General Group Plc bought a new stake in National HealthCare Corporation (NYSEAMERICAN:NHC - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 31,155 shares of the company's stock, valued at approximately $6,585,000. Legal & General Group Plc owned about 0.20% of National HealthCare at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of National HealthCare in the 3rd quarter valued at about $25,000. Allworth Financial LP acquired a new position in National HealthCare during the second quarter worth approximately $27,000. Quarry LP lifted its stake in National HealthCare by 171.9% in the third quarter. Quarry LP now owns 261 shares of the company's stock valued at $32,000 after buying an additional 165 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in National HealthCare in the second quarter valued at approximately $37,000. Finally, Kestra Advisory Services LLC acquired a new stake in shares of National HealthCare in the fourth quarter valued at approximately $42,000. Institutional investors and hedge funds own 56.44% of the company's stock.

National HealthCare Trading Down 0.7%

Shares of NHC stock opened at $217.34 on Thursday. The company has a market capitalization of $3.40 billion, a P/E ratio of 24.45 and a beta of 0.62. The business's 50 day moving average is $220.34 and its two-hundred day moving average is $191.16. National HealthCare Corporation has a twelve month low of $111.24 and a twelve month high of $239.29.

National HealthCare (NYSEAMERICAN:NHC - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $1.74 EPS for the quarter. National HealthCare had a return on equity of 10.03% and a net margin of 9.00%.The business had revenue of $408.03 million during the quarter.

National HealthCare Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.67 per share. The ex-dividend date is Wednesday, September 30th. This represents a $2.68 dividend on an annualized basis and a yield of 1.2%. National HealthCare's dividend payout ratio is presently 61.89%.

Insiders Place Their Bets

In other news, CEO Stephen Fowler Flatt sold 1,500 shares of the firm's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $237.08, for a total value of $355,620.00. Following the completion of the sale, the chief executive officer owned 65,487 shares in the company, valued at approximately $15,525,657.96. This trade represents a 2.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David R. Gifford sold 1,779 shares of National HealthCare stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $225.42, for a total transaction of $401,022.18. Following the completion of the sale, the director directly owned 1,030 shares in the company, valued at approximately $232,182.60. The trade was a 63.33% decrease in their position. The SEC filing for this sale provides additional information. 13.92% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on NHC shares. Robert W. Baird upgraded shares of National HealthCare to a "strong-buy" rating in a research report on Monday, May 18th. The Goldman Sachs Group upgraded shares of National HealthCare to a "strong-buy" rating in a research report on Monday, May 18th. Royal Bank Of Canada raised shares of National HealthCare to a "hold" rating in a research report on Monday, May 18th. Finally, BMO Capital Markets upgraded shares of National HealthCare to a "hold" rating in a research note on Monday, May 18th. Two research analysts have rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy".

National HealthCare Profile

National HealthCare Corporation (NYSE American: NHC) is a healthcare services company specializing in long-term care and post-acute rehabilitation. The company operates skilled nursing facilities, assisted living communities and outpatient therapy clinics. Through its subsidiary, National HealthCare Partners, NHC provides contract rehabilitation services, pharmacy management and clinical consulting to a broad network of senior living and healthcare providers.

Headquartered in Murfreesboro, Tennessee, National HealthCare Corporation has built a regional footprint across the southeastern and south-central United States.

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