National HealthCare Co. $NHC Holdings Trimmed by Invesco Ltd.

Key Points

• Invesco Ltd. has reduced its stake in National HealthCare Co. by 47.6%, selling 78,457 shares and retaining 86,454 shares valued at approximately $8 million.
• Several institutional investors, including Northern Trust Corp and First Trust Advisors LP, have increased their holdings in National HealthCare, indicating growing confidence in the company's prospects.
• The company has announced a quarterly dividend of $0.64 per share, scheduled for payment on October 31st, which corresponds to an annualized yield of 2.3%.

Invesco Ltd. trimmed its holdings in shares of National HealthCare Co. (NYSE:NHC - Free Report) by 47.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 86,454 shares of the company's stock after selling 78,457 shares during the period. Invesco Ltd. owned 0.56% of National HealthCare worth $8,023,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in NHC. State of Wyoming acquired a new position in National HealthCare in the 4th quarter worth $93,000. Hohimer Wealth Management LLC lifted its holdings in National HealthCare by 6.9% in the 1st quarter. Hohimer Wealth Management LLC now owns 2,479 shares of the company's stock worth $230,000 after buying an additional 160 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in National HealthCare by 13.9% in the 4th quarter. NewEdge Advisors LLC now owns 3,370 shares of the company's stock worth $362,000 after buying an additional 411 shares in the last quarter. XTX Topco Ltd lifted its holdings in National HealthCare by 51.3% in the 1st quarter. XTX Topco Ltd now owns 4,030 shares of the company's stock worth $374,000 after buying an additional 1,367 shares in the last quarter. Finally, ProShare Advisors LLC lifted its holdings in National HealthCare by 45.2% in the 4th quarter. ProShare Advisors LLC now owns 3,761 shares of the company's stock worth $405,000 after buying an additional 1,170 shares in the last quarter. 56.44% of the stock is owned by hedge funds and other institutional investors.

National HealthCare Stock Performance

NHC traded up $1.20 on Thursday, hitting $113.17. 42,878 shares of the company's stock were exchanged, compared to its average volume of 58,279. The firm has a market cap of $1.75 billion, a PE ratio of 14.18 and a beta of 0.58. National HealthCare Co. has a twelve month low of $89.14 and a twelve month high of $137.53. The stock has a fifty day moving average of $103.51 and a two-hundred day moving average of $99.46. The company has a current ratio of 1.80, a quick ratio of 1.77 and a debt-to-equity ratio of 0.14.

National HealthCare Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be paid a $0.64 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $2.56 annualized dividend and a dividend yield of 2.3%. National HealthCare's dividend payout ratio (DPR) is presently 38.15%.

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 report on Monday, May 12th.

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.