Millennium Management LLC Cuts Stock Holdings in The Ensign Group, Inc. $ENSG

Key Points

• Millennium Management LLC decreased its stake in The Ensign Group by 33.7%, now holding 237,481 shares worth approximately $30.7 million after selling 120,678 shares in the first quarter.
• Director Barry M. Smith and CFO Suzanne D. Snapper both sold shares recently, contributing to a total of 14,498 shares worth $2.2 million sold by insiders over the last three months.
• Analysts have set a new average target price of $172.67 for The Ensign Group, with ratings including five "Buy" and one "Hold" as per recent research reports.

Millennium Management LLC reduced its position in shares of The Ensign Group, Inc. (NASDAQ:ENSG - Free Report) by 33.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 237,481 shares of the company's stock after selling 120,678 shares during the period. Millennium Management LLC owned 0.41% of The Ensign Group worth $30,730,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Forum Financial Management LP increased its stake in The Ensign Group by 5.8% during the 4th quarter. Forum Financial Management LP now owns 1,524 shares of the company's stock worth $202,000 after buying an additional 84 shares in the last quarter. State of Wyoming increased its stake in The Ensign Group by 4.5% during the 1st quarter. State of Wyoming now owns 1,967 shares of the company's stock worth $255,000 after buying an additional 85 shares in the last quarter. Wealth Alliance LLC increased its stake in The Ensign Group by 4.6% during the 1st quarter. Wealth Alliance LLC now owns 1,971 shares of the company's stock worth $255,000 after buying an additional 86 shares in the last quarter. CWM LLC increased its stake in The Ensign Group by 17.9% during the 1st quarter. CWM LLC now owns 585 shares of the company's stock worth $76,000 after buying an additional 89 shares in the last quarter. Finally, QRG Capital Management Inc. increased its stake 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 worth $754,000 after buying an additional 92 shares in the last quarter. 96.12% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at The Ensign Group

In related news, Director Barry M. Smith sold 700 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $172.06, for a total value of $120,442.00. Following the transaction, the director directly owned 27,052 shares in the company, valued at approximately $4,654,567.12. This represents a 2.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Suzanne D. Snapper sold 8,379 shares of the company's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $148.21, for a total value of $1,241,851.59. Following the completion of the transaction, the chief financial officer owned 269,692 shares in the company, valued at $39,971,051.32. This represents a 3.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,498 shares of company stock worth $2,201,175. Insiders own 3.90% of the company's stock.

Analysts Set New Price Targets

ENSG has been the topic of several recent research reports. 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. UBS Group boosted their target price on The Ensign Group from $195.00 to $205.00 and gave the stock a "buy" rating in a report on Tuesday, September 2nd. Finally, Stephens boosted their target price on The Ensign Group from $165.00 to $170.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $172.67.

The Ensign Group Trading Down 2.0%

Shares of The Ensign Group stock opened at $166.15 on Thursday. The stock has a market cap of $9.59 billion, a P/E ratio of 30.15, a P/E/G ratio of 1.95 and a beta of 0.93. The stock's 50 day simple moving average is $157.41 and its 200-day simple moving average is $144.28. The Ensign Group, Inc. has a 1-year low of $118.73 and a 1-year high of $174.98. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.41 and a quick ratio of 1.41.

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 analysts' consensus estimates 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 firm had revenue of $1.23 billion for the quarter, compared to analysts' expectations of $1.22 billion. During the same period in the prior year, the firm posted $1.32 earnings per share. The firm's quarterly revenue was up 18.5% on a year-over-year basis. The Ensign Group has set its FY 2025 guidance at 6.340-6.460 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 disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were issued a $0.0625 dividend. The ex-dividend date was Monday, June 30th. This represents a $0.25 dividend on an annualized basis and a yield of 0.2%. The Ensign Group's dividend 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.

Want to see what other hedge funds are holding ENSG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Ensign Group, Inc. (NASDAQ:ENSG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.