Connable Office Inc. Lowers Holdings in The Ensign Group, Inc. (NASDAQ:ENSG)

Connable Office Inc. lowered its stake in shares of The Ensign Group, Inc. (NASDAQ:ENSG) by 19.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,001 shares of the company’s stock after selling 741 shares during the period. Connable Office Inc.’s holdings in The Ensign Group were worth $371,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of ENSG. Miller Howard Investments Inc. NY boosted its holdings in shares of The Ensign Group by 2.4% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 3,018 shares of the company’s stock valued at $373,000 after purchasing an additional 72 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of The Ensign Group by 0.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 7,908 shares of the company’s stock worth $982,000 after buying an additional 72 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of The Ensign Group by 21.2% in the 2nd quarter. Blue Trust Inc. now owns 429 shares of the company’s stock worth $53,000 after buying an additional 75 shares during the last quarter. Pitcairn Co. lifted its holdings in shares of The Ensign Group by 1.6% in the 1st quarter. Pitcairn Co. now owns 5,684 shares of the company’s stock valued at $707,000 after acquiring an additional 87 shares during the last quarter. Finally, Harfst & Associates Inc. grew its position in The Ensign Group by 0.7% in the second quarter. Harfst & Associates Inc. now owns 12,221 shares of the company’s stock worth $1,512,000 after acquiring an additional 89 shares in the last quarter. Hedge funds and other institutional investors own 96.12% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Barry Port sold 3,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $140.00, for a total value of $420,000.00. Following the transaction, the chief executive officer now owns 53,716 shares in the company, valued at approximately $7,520,240. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Barry Port sold 3,000 shares of The Ensign Group stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $140.00, for a total value of $420,000.00. Following the completion of the transaction, the chief executive officer now owns 53,716 shares in the company, valued at approximately $7,520,240. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Spencer Burton sold 7,519 shares of the stock in a transaction on Friday, July 12th. The shares were sold at an average price of $135.04, for a total transaction of $1,015,365.76. Following the transaction, the chief operating officer now directly owns 42,629 shares in the company, valued at $5,756,620.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,736 shares of company stock valued at $3,491,039. 3.90% of the stock is currently owned by corporate insiders.

The Ensign Group Stock Down 1.7 %

Shares of NASDAQ ENSG opened at $149.05 on Monday. The stock has a market capitalization of $8.51 billion, a PE ratio of 39.22, a price-to-earnings-growth ratio of 1.99 and a beta of 0.96. The stock’s fifty day simple moving average is $139.73 and its two-hundred day simple moving average is $127.36. The Ensign Group, Inc. has a 12-month low of $90.00 and a 12-month high of $152.63. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.09.

The Ensign Group (NASDAQ:ENSG) last posted its quarterly earnings data on Thursday, July 25th. The company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.30 by $0.02. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion. The Ensign Group had a net margin of 5.68% and a return on equity of 17.32%. The Ensign Group’s revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.08 EPS. As a group, analysts expect that The Ensign Group, Inc. will post 4.99 EPS for the current fiscal year.

The Ensign Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Sunday, June 30th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date was Friday, June 28th. The Ensign Group’s dividend payout ratio (DPR) is presently 6.32%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ENSG. Macquarie initiated coverage on The Ensign Group in a research note on Friday, June 28th. They issued an “outperform” rating and a $134.00 price objective for the company. Truist Financial raised their price target on The Ensign Group from $150.00 to $160.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $134.50.

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.