Invesco Ltd. Reduces Stake in National HealthCare Co. $NHC

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 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 86,454 shares of the company's stock after selling 78,457 shares during the quarter. Invesco Ltd. owned approximately 0.56% of National HealthCare worth $8,023,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Northern Trust Corp raised its stake in shares of National HealthCare by 4.8% during the 4th quarter. Northern Trust Corp now owns 193,792 shares of the company's stock worth $20,844,000 after buying an additional 8,795 shares during the period. Alps Advisors Inc. raised its stake in shares of National HealthCare by 7.7% during the 1st quarter. Alps Advisors Inc. now owns 147,800 shares of the company's stock worth $13,716,000 after buying an additional 10,614 shares during the period. Systematic Financial Management LP raised its stake in shares of National HealthCare by 3.5% during the 4th quarter. Systematic Financial Management LP now owns 117,884 shares of the company's stock worth $12,680,000 after buying an additional 3,962 shares during the period. Principal Financial Group Inc. raised its stake in shares of National HealthCare by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 65,410 shares of the company's stock worth $6,070,000 after buying an additional 1,671 shares during the period. Finally, First Trust Advisors LP raised its stake in shares of National HealthCare by 75.6% during the 4th quarter. First Trust Advisors LP now owns 47,062 shares of the company's stock worth $5,062,000 after buying an additional 20,268 shares during the period. 56.44% of the stock is owned by institutional investors and hedge funds.

National HealthCare Price Performance

Shares of NHC traded up $0.31 during trading hours on Friday, hitting $113.48. 33,723 shares of the stock were exchanged, compared to its average volume of 58,129. 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 Co. has a 12-month low of $89.14 and a 12-month high of $137.53. The company has a market cap of $1.76 billion, a price-to-earnings ratio of 14.22 and a beta of 0.58. The stock's 50-day moving average price is $103.69 and its two-hundred day moving average price is $99.50.

National HealthCare Announces Dividend

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

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.

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.