Fred Alger Management LLC Sells 1,614 Shares of 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 reduced its stake in shares of The Ensign Group, Inc. (NASDAQ:ENSG - Free Report) by 40.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and 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 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. boosted its stake in shares of The Ensign Group by 23.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 8,298 shares of the company's stock valued at $1,074,000 after purchasing an additional 1,564 shares in the last quarter. QRG Capital Management Inc. boosted its position in The Ensign Group by 1.6% during the 1st quarter. QRG Capital Management Inc. now owns 5,825 shares of the company's stock valued at $754,000 after acquiring an additional 92 shares in the last quarter. KBC Group NV raised its position in shares of The Ensign Group by 10.7% in the 1st quarter. KBC Group NV now owns 2,506 shares of the company's stock worth $324,000 after acquiring an additional 243 shares in the last quarter. New York State Teachers Retirement System lifted its stake in shares of The Ensign Group by 0.8% in the 1st quarter. New York State Teachers Retirement System now owns 36,529 shares of the company's stock valued at $4,727,000 after purchasing an additional 300 shares during the period. Finally, SG Americas Securities LLC purchased a new position in The Ensign Group during the first quarter valued at $343,000. 96.12% of the stock is currently owned by institutional investors.

The Ensign Group Stock Down 1.1%

Shares of ENSG stock traded down $1.88 during mid-day trading on Tuesday, hitting $164.34. The company's stock had a trading volume of 300,915 shares, compared to its average volume of 320,067. The stock has a market cap of $9.48 billion, a price-to-earnings ratio of 29.83, a PEG ratio of 1.91 and a beta of 0.93. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.41 and a current ratio of 1.41. The Ensign Group, Inc. has a 52-week low of $118.73 and a 52-week high of $174.98. The business has a 50-day moving average price of $158.89 and a 200 day moving average price of $145.34.

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

The Ensign Group Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 30th were issued a dividend of $0.0625 per share. This represents a $0.25 annualized dividend 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 presently 4.54%.

Insider Activity

In related news, VP Beverly B. Wittekind sold 4,719 shares of the stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $155.00, for a total transaction of $731,445.00. Following the transaction, the vice president owned 38,679 shares in the company, valued at $5,995,245. This represents a 10.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Barry M. Smith sold 700 shares of The Ensign Group stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $172.06, for a total transaction of $120,442.00. Following the completion of the sale, the director directly owned 27,052 shares of the company's stock, valued at approximately $4,654,567.12. This trade represents a 2.52% decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,498 shares of company stock valued at $2,201,175 over the last three months. Insiders own 3.90% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ENSG. Stephens boosted their price target on The Ensign Group from $165.00 to $170.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. UBS Group lifted their price objective on The Ensign Group from $195.00 to $205.00 and gave the company a "buy" rating in a research note on Tuesday, September 2nd. Finally, Truist Financial boosted their target price on The Ensign Group from $155.00 to $165.00 and gave the stock a "hold" rating in a report on Monday, July 28th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $172.67.

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.