Fred Alger Management LLC Decreases Stock Holdings in The Ensign Group, Inc. $ENSG

Key Points

• Fred Alger Management LLC reduced its stake in The Ensign Group by 40.6%, ending the quarter with 2,360 shares valued at approximately $306,000.
• Multiple hedge funds increased their positions in The Ensign Group, with Rise Advisors LLC boosting its stake by 114.0%.
• Analysts have provided a positive outlook for The Ensign Group, with a consensus price target of $172.67 and five analysts rating the stock as a "Buy."

Fred Alger Management LLC trimmed its position in The Ensign Group, Inc. (NASDAQ:ENSG - Free Report) by 40.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,360 shares of the company's stock after selling 1,614 shares during the quarter. Fred Alger Management LLC's holdings in The Ensign Group were worth $306,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Rise Advisors LLC increased its stake in shares of The Ensign Group by 114.0% in the first quarter. Rise Advisors LLC now owns 199 shares of the company's stock worth $26,000 after buying an additional 106 shares during the period. WPG Advisers LLC purchased a new position in shares of The Ensign Group in the first quarter worth $27,000. TCTC Holdings LLC increased its stake in shares of The Ensign Group by 116.7% in the first quarter. TCTC Holdings LLC now owns 208 shares of the company's stock worth $27,000 after buying an additional 112 shares during the period. Opal Wealth Advisors LLC purchased a new position in shares of The Ensign Group in the first quarter worth $36,000. Finally, AdvisorNet Financial Inc purchased a new position in shares of The Ensign Group in the first quarter worth $38,000. 96.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ENSG has been the topic of several analyst reports. Stephens lifted their target price on shares of The Ensign Group from $165.00 to $170.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. UBS Group boosted their price objective on shares of The Ensign Group from $195.00 to $205.00 and gave the company a "buy" rating in a research report on Tuesday, September 2nd. Finally, Truist Financial boosted their price objective on shares of The Ensign Group from $155.00 to $165.00 and gave the company a "hold" rating in a research report on Monday, July 28th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $172.67.

Insider Transactions at The Ensign Group

In other news, CFO Suzanne D. Snapper sold 8,379 shares of the business's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $148.21, for a total value of $1,241,851.59. Following the sale, the chief financial officer directly owned 269,692 shares of the company's stock, valued at $39,971,051.32. The trade was a 3.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Beverly B. Wittekind sold 4,719 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $155.00, for a total value of $731,445.00. Following the completion of the sale, the vice president directly owned 38,679 shares in the company, valued at approximately $5,995,245. This represents a 10.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,498 shares of company stock valued at $2,201,175 in the last ninety days. 3.90% of the stock is currently owned by corporate insiders.

The Ensign Group Stock Down 2.0%

Shares of The Ensign Group stock opened at $166.15 on Thursday. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.07. The company's fifty day simple moving average is $157.41 and its two-hundred day simple moving average is $144.28. The company has a market cap of $9.59 billion, a P/E ratio of 30.15, a PEG ratio of 1.95 and a beta of 0.93. The Ensign Group, Inc. has a 12-month low of $118.73 and a 12-month high of $174.98.

The Ensign Group (NASDAQ:ENSG - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The company reported $1.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.54 by $0.05. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.22 billion. The Ensign Group had a net margin of 6.99% and a return on equity of 16.92%. The company's quarterly revenue was up 18.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.32 EPS. The Ensign Group has set its FY 2025 guidance at 6.340-6.460 EPS. Research analysts anticipate that The Ensign Group, Inc. will post 5.59 EPS for the current year.

The Ensign Group Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 30th were given a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Monday, June 30th. The Ensign Group's payout ratio is currently 4.54%.

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.

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