Connable Office Inc. Reduces Position in The Ensign Group, Inc. (NASDAQ:ENSG)

Connable Office Inc. cut its holdings in shares of The Ensign Group, Inc. (NASDAQ:ENSG) by 33.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,989 shares of the company’s stock after selling 1,012 shares during the period. Connable Office Inc.’s holdings in The Ensign Group were worth $286,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. CIBC Asset Management Inc purchased a new stake in shares of The Ensign Group during the third quarter valued at $236,000. KBC Group NV boosted its position in shares of The Ensign Group by 11.8% during the third quarter. KBC Group NV now owns 1,619 shares of the company’s stock valued at $233,000 after buying an additional 171 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of The Ensign Group by 26.5% during the third quarter. Victory Capital Management Inc. now owns 245,325 shares of the company’s stock valued at $35,283,000 after buying an additional 51,367 shares during the last quarter. Aigen Investment Management LP purchased a new stake in shares of The Ensign Group during the third quarter valued at $434,000. Finally, Baillie Gifford & Co. purchased a new stake in shares of The Ensign Group during the third quarter valued at $151,827,000. 96.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Oppenheimer increased their price objective on The Ensign Group from $165.00 to $168.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Truist Financial raised their target price on The Ensign Group from $160.00 to $170.00 and gave the stock a “hold” rating in a research report on Monday, October 28th. Royal Bank of Canada raised their target price on The Ensign Group from $167.00 to $172.00 and gave the stock an “outperform” rating in a research report on Monday, October 28th. Finally, Stephens raised their target price on The Ensign Group from $163.00 to $167.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $162.20.

Insider Transactions at The Ensign Group

In related news, CEO Barry Port sold 5,618 shares of The Ensign Group stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $150.00, for a total transaction of $842,700.00. Following the sale, the chief executive officer now owns 53,716 shares of the company’s stock, valued at approximately $8,057,400. This trade represents a 9.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 11,118 shares of company stock valued at $1,660,200 over the last quarter. 3.90% of the stock is currently owned by company insiders.

The Ensign Group Stock Down 1.5 %

NASDAQ ENSG opened at $143.49 on Friday. The stock’s 50-day moving average price is $149.39 and its 200-day moving average price is $136.87. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.08. The Ensign Group, Inc. has a 52 week low of $104.18 and a 52 week high of $158.45. The company has a market capitalization of $8.22 billion, a P/E ratio of 34.74, a price-to-earnings-growth ratio of 1.98 and a beta of 0.95.

The Ensign Group (NASDAQ:ENSG) last posted its quarterly earnings data on Thursday, October 24th. The company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.38 by $0.01. The Ensign Group had a return on equity of 17.21% and a net margin of 5.84%. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the company earned $1.10 earnings per share. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. On average, equities research analysts predict that The Ensign Group, Inc. will post 5 earnings per share for the current year.

The Ensign Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.17%. The ex-dividend date of this dividend was Monday, September 30th. The Ensign Group’s dividend payout ratio (DPR) is currently 5.81%.

About The Ensign Group

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.