Balance Wealth LLC Makes New $894,000 Investment in The Ensign Group, Inc. (NASDAQ:ENSG)

Balance Wealth LLC purchased a new position in The Ensign Group, Inc. (NASDAQ:ENSG - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 6,906 shares of the company's stock, valued at approximately $894,000.

Other institutional investors also recently modified their holdings of the company. Venturi Wealth Management LLC raised its stake in The Ensign Group by 150.6% during the fourth quarter. Venturi Wealth Management LLC now owns 208 shares of the company's stock worth $28,000 after buying an additional 125 shares during the last quarter. Opal Wealth Advisors LLC acquired a new stake in The Ensign Group during the 1st quarter worth about $36,000. AdvisorNet Financial Inc bought a new position in shares of The Ensign Group in the 1st quarter worth about $38,000. CBIZ Investment Advisory Services LLC boosted its position in shares of The Ensign Group by 38.8% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 354 shares of the company's stock valued at $47,000 after purchasing an additional 99 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in shares of The Ensign Group by 39.0% during the 1st quarter. Blue Trust Inc. now owns 467 shares of the company's stock valued at $60,000 after purchasing an additional 131 shares in the last quarter. 96.12% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Macquarie lowered their target price on The Ensign Group from $159.00 to $156.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $163.50.

Insiders Place Their Bets

In other news, Director Daren Shaw sold 1,999 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $145.47, for a total value of $290,794.53. Following the transaction, the director now owns 24,926 shares in the company, valued at $3,625,985.22. This trade represents a 7.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Beverly B. Wittekind sold 3,539 shares of The Ensign Group stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $150.00, for a total value of $530,850.00. Following the transaction, the vice president now directly owns 39,209 shares in the company, valued at approximately $5,881,350. The trade was a 8.28% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,257 shares of company stock worth $1,553,090. Insiders own 3.90% of the company's stock.

The Ensign Group Trading Up 0.9%

ENSG opened at $153.57 on Wednesday. The company has a fifty day moving average price of $141.92 and a two-hundred day moving average price of $135.98. The Ensign Group, Inc. has a 1-year low of $118.73 and a 1-year high of $158.45. The company has a market cap of $8.83 billion, a P/E ratio of 29.03, a price-to-earnings-growth ratio of 1.77 and a beta of 1.03. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.07.

The Ensign Group (NASDAQ:ENSG - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $1.52 EPS for the quarter, beating analysts' consensus estimates of $1.50 by $0.02. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.17 billion. The Ensign Group had a return on equity of 16.90% and a net margin of 6.99%. The firm's revenue was up 16.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.30 EPS. Analysts predict that The Ensign Group, Inc. will post 5.59 EPS for the current fiscal year.

The Ensign Group Cuts Dividend

The firm also recently declared a dividend, which will be paid on Thursday, July 31st. Shareholders of record on Tuesday, July 1st will be paid a dividend of $0.0625 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a yield of 0.16%. The Ensign Group's dividend payout ratio (DPR) is presently 4.73%.

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.

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