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

Fred Alger Management LLC grew its stake in shares of The Ensign Group, Inc. (NASDAQ:ENSG) by 77.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,038 shares of the company’s stock after purchasing an additional 5,696 shares during the quarter. Fred Alger Management LLC’s holdings in The Ensign Group were worth $1,875,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Verition Fund Management LLC acquired a new position in shares of The Ensign Group during the third quarter worth $3,662,000. Walleye Capital LLC acquired a new stake in The Ensign Group during the 3rd quarter valued at $586,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in The Ensign Group by 2.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,427 shares of the company’s stock worth $1,931,000 after buying an additional 331 shares during the period. De Lisle Partners LLP lifted its holdings in The Ensign Group by 120.1% in the 3rd quarter. De Lisle Partners LLP now owns 22,010 shares of the company’s stock worth $3,168,000 after buying an additional 12,010 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its position in The Ensign Group by 23.1% in the 3rd quarter. MetLife Investment Management LLC now owns 39,419 shares of the company’s stock valued at $5,669,000 after buying an additional 7,400 shares during the last quarter. Hedge funds and other institutional investors own 96.12% of the company’s stock.

The Ensign Group Price Performance

Shares of 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 company has a market capitalization of $8.38 billion, a price-to-earnings ratio of 35.40, a price-to-earnings-growth ratio of 1.94 and a beta of 0.95. The Ensign Group, Inc. has a twelve month low of $104.18 and a twelve month high of $158.45. The business has a 50 day simple moving average of $148.16 and a 200-day simple moving average of $138.98.

The Ensign Group (NASDAQ:ENSG) last issued its 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 Ensign Group had a net margin of 5.84% and a return on equity of 17.21%. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the company earned $1.10 earnings per share. The firm’s revenue was up 15.0% compared to the same quarter last year. As a group, equities research analysts expect that The Ensign Group, Inc. will post 5.02 earnings per share for the current year.

The Ensign Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were paid a $0.06 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.24 dividend on an annualized basis and a yield of 0.16%. The Ensign Group’s payout ratio is currently 5.81%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Truist Financial lifted 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. Stephens lifted their price objective on The Ensign Group from $163.00 to $167.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. UBS Group assumed coverage on The Ensign Group in a research note on Thursday, November 21st. They set a “buy” rating and a $175.00 target price for the company. Royal Bank of Canada raised their price target on shares of 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, Oppenheimer upped their price target on shares of The Ensign Group from $165.00 to $168.00 and gave the company an “outperform” rating in a report on Friday, October 25th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.33.

Insider Activity

In other news, CEO Barry Port sold 2,000 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $155.00, for a total transaction of $310,000.00. Following the completion of the transaction, the chief executive officer now owns 53,716 shares of the company’s stock, valued at approximately $8,325,980. The trade was a 3.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.90% of the company’s stock.

The Ensign Group Company 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.