The Ensign Group, Inc. (NASDAQ:ENSG) Stake Raised by Fred Alger Management LLC

Fred Alger Management LLC raised its holdings in The Ensign Group, Inc. (NASDAQ:ENSG) by 77.6% in the third quarter, Holdings Channel.com reports. The fund owned 13,038 shares of the company’s stock after acquiring an additional 5,696 shares during the period. Fred Alger Management LLC’s holdings in The Ensign Group were worth $1,875,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in ENSG. Opal Wealth Advisors LLC bought a new stake in The Ensign Group during the second quarter worth approximately $31,000. Signaturefd LLC boosted its stake in shares of The Ensign Group by 115.2% during the 3rd quarter. Signaturefd LLC now owns 284 shares of the company’s stock worth $41,000 after acquiring an additional 152 shares in the last quarter. USA Financial Formulas acquired a new position in shares of The Ensign Group in the 3rd quarter worth $54,000. UMB Bank n.a. raised its position in shares of The Ensign Group by 30.1% during the third quarter. UMB Bank n.a. now owns 385 shares of the company’s stock worth $55,000 after purchasing an additional 89 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of The Ensign Group during the second quarter worth $49,000. Institutional investors own 96.12% of the company’s stock.

The Ensign Group Trading Up 0.2 %

NASDAQ ENSG opened at $146.21 on Monday. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.08. The Ensign Group, Inc. has a 1-year low of $104.18 and a 1-year high of $158.45. The firm’s fifty day simple moving average is $148.16 and its 200-day simple moving average is $138.98. The company has a market capitalization of $8.38 billion, a PE ratio of 35.40, a price-to-earnings-growth ratio of 1.94 and a beta of 0.95.

The Ensign Group (NASDAQ:ENSG) last posted its quarterly earnings results on Thursday, October 24th. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.07 billion. The Ensign Group had a return on equity of 17.21% and a net margin of 5.84%. The business’s quarterly revenue was up 15.0% on a year-over-year basis. During the same period last year, the business earned $1.10 EPS. As a group, sell-side analysts anticipate that The Ensign Group, Inc. will post 5.02 earnings per share for the current fiscal year.

The Ensign Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.24 annualized dividend and a dividend yield of 0.16%. The Ensign Group’s dividend payout ratio (DPR) is 5.81%.

Insider Activity

In related news, CEO Barry Port sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $155.00, for a total value of $310,000.00. Following the transaction, the chief executive officer now directly owns 53,716 shares of the company’s stock, valued at approximately $8,325,980. This trade represents a 3.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 3.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ENSG. Stephens lifted their price target on The Ensign Group from $163.00 to $167.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Oppenheimer lifted their target price on shares of The Ensign Group from $165.00 to $168.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. UBS Group began coverage on shares of The Ensign Group in a research report on Thursday, November 21st. They issued a “buy” rating and a $175.00 price target for the company. Truist Financial lifted their price objective on shares of The Ensign Group from $160.00 to $170.00 and gave the stock a “hold” rating in a research report on Monday, October 28th. Finally, Royal Bank of Canada increased their target price on The Ensign Group from $167.00 to $172.00 and gave the company an “outperform” rating in a report on Monday, October 28th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $164.33.

The Ensign Group Profile

The Ensign Group, Inc provides skilled nursing, senior living, and rehabilitative services. It operates through two segments: Skilled Services and Standard Bearer. The company's Skilled Services segment engages in the operation of skilled nursing facilities and rehabilitation therapy services for patients with chronic conditions, prolonged illness, and the elderly; and offers nursing facilities including specialty care, such as on-site dialysis, ventilator care, cardiac, and pulmonary management, as well as standard services comprising room and board, special nutritional programs, social services, recreational activities, entertainment, and other services.