Connable Office Inc. Sells 1,012 Shares of The Ensign Group, Inc. (NASDAQ:ENSG)

Connable Office Inc. lessened its holdings in shares of The Ensign Group, Inc. (NASDAQ:ENSG) by 33.7% during the 3rd quarter, Holdings Channel reports. The firm 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 and hedge funds also recently added to or reduced their stakes in ENSG. Russell Investments Group Ltd. increased its stake in The Ensign Group by 1.2% in the 1st quarter. Russell Investments Group Ltd. now owns 73,208 shares of the company’s stock worth $9,109,000 after acquiring an additional 863 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in The Ensign Group by 11.0% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 24,278 shares of the company’s stock worth $3,021,000 after acquiring an additional 2,402 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its stake in The Ensign Group by 20.4% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,331 shares of the company’s stock worth $539,000 after acquiring an additional 734 shares during the last quarter. Vanguard Group Inc. increased its stake in The Ensign Group by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 6,661,581 shares of the company’s stock worth $828,834,000 after acquiring an additional 39,695 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in The Ensign Group in the 1st quarter worth approximately $448,000. Institutional investors own 96.12% of the company’s stock.

Insider Activity at The Ensign Group

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ENSG. Oppenheimer lifted their price objective on The Ensign Group from $165.00 to $168.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Stephens lifted their target price on The Ensign Group from $163.00 to $167.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. 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 report on Monday, October 28th. Finally, Royal Bank of Canada lifted their target price on The Ensign Group from $167.00 to $172.00 and gave the stock an “outperform” rating in a report on Monday, October 28th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, The Ensign Group has an average rating of “Moderate Buy” and an average target price of $162.20.

The Ensign Group Price Performance

ENSG opened at $143.49 on Friday. The business has a fifty day moving average of $149.39 and a 200 day moving average of $136.87. The Ensign Group, Inc. has a 52-week low of $104.18 and a 52-week high of $158.45. 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 stock has a market cap of $8.22 billion, a P/E ratio of 34.74, a PEG 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the business earned $1.10 EPS. The Ensign Group’s revenue was up 15.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Ensign Group, Inc. will post 5 EPS for the current year.

The Ensign Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date of this dividend was Monday, September 30th. The Ensign Group’s payout ratio is currently 5.81%.

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.