Northern Trust Corp Cuts Holdings in National HealthCare Co. $NHC

Key Points

• Northern Trust Corp reduced its stock position in National HealthCare Co. by 3.9%, holding 186,217 shares worth approximately $17.3 million after selling 7,575 shares in the first quarter.
• Several institutional investors, including Alps Advisors Inc. and Public Sector Pension Investment Board, have increased their stakes in National HealthCare during the same period, with the latter boosting its position by 27.4%.
• Analysts upgraded National HealthCare from a "buy" rating to a "strong-buy" rating, and the company recently declared a quarterly dividend of $0.64 per share, reflecting a 2.3% yield.

Northern Trust Corp lowered its holdings in National HealthCare Co. (NYSE:NHC - Free Report) by 3.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 186,217 shares of the company's stock after selling 7,575 shares during the period. Northern Trust Corp owned approximately 1.20% of National HealthCare worth $17,281,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of NHC. State of Wyoming purchased a new position in National HealthCare during the fourth quarter valued at approximately $93,000. Hohimer Wealth Management LLC grew its stake in National HealthCare by 6.9% during the first quarter. Hohimer Wealth Management LLC now owns 2,479 shares of the company's stock valued at $230,000 after acquiring an additional 160 shares in the last quarter. Algert Global LLC purchased a new position in National HealthCare during the first quarter valued at approximately $314,000. XTX Topco Ltd grew its stake in National HealthCare by 51.3% during the first quarter. XTX Topco Ltd now owns 4,030 shares of the company's stock valued at $374,000 after acquiring an additional 1,367 shares in the last quarter. Finally, ProShare Advisors LLC grew its stake in National HealthCare by 45.2% during the fourth quarter. ProShare Advisors LLC now owns 3,761 shares of the company's stock valued at $405,000 after acquiring an additional 1,170 shares in the last quarter. Institutional investors own 56.44% of the company's stock.

National HealthCare Price Performance

NHC stock traded down $0.21 during midday trading on Friday, reaching $114.94. The company had a trading volume of 29,017 shares, compared to its average volume of 57,514. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.80 and a quick ratio of 1.77. National HealthCare Co. has a 1 year low of $89.14 and a 1 year high of $136.86. The company has a market capitalization of $1.78 billion, a P/E ratio of 14.40 and a beta of 0.58. The firm has a 50-day moving average price of $104.27 and a 200-day moving average price of $99.94.

National HealthCare Dividend Announcement

The business 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. This represents a $2.56 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 30th. National HealthCare's payout ratio is currently 38.15%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of 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.