Millennium Management LLC Sells 120,678 Shares of 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 decreased its position in The Ensign Group, Inc. (NASDAQ:ENSG - Free Report) by 33.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 237,481 shares of the company's stock after selling 120,678 shares during the quarter. Millennium Management LLC owned approximately 0.41% of The Ensign Group worth $30,730,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of ENSG. Crow s Nest Holdings LP purchased a new position in shares of The Ensign Group in the first quarter valued at about $56,936,000. American Century Companies Inc. boosted its stake in shares of The Ensign Group by 1,235.5% during the 1st quarter. American Century Companies Inc. now owns 468,575 shares of the company's stock valued at $60,634,000 after purchasing an additional 433,489 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of The Ensign Group by 14,683.7% during the 1st quarter. GAMMA Investing LLC now owns 338,252 shares of the company's stock valued at $43,770,000 after purchasing an additional 335,964 shares in the last quarter. Nuveen LLC bought a new stake in shares of The Ensign Group during the 1st quarter valued at about $32,429,000. Finally, Wellington Management Group LLP boosted its stake in shares of The Ensign Group by 17.6% during the 1st quarter. Wellington Management Group LLP now owns 683,650 shares of the company's stock valued at $88,464,000 after purchasing an additional 102,089 shares in the last quarter. Hedge funds and other institutional investors own 96.12% of the company's stock.

Analyst Ratings Changes

ENSG has been the topic of a number of research reports. Stephens lifted their target price on shares of The Ensign Group from $165.00 to $170.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. UBS Group lifted their target price on shares of 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 price objective on shares of The Ensign Group from $155.00 to $165.00 and gave the stock a "hold" rating in a research note on Monday, July 28th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, The Ensign Group has an average rating of "Moderate Buy" and a consensus price target of $172.67.

Insider Activity at The Ensign Group

In related news, CFO Suzanne D. Snapper sold 8,379 shares of the stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $148.21, for a total transaction of $1,241,851.59. Following 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 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 stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $172.06, for a total transaction of $120,442.00. Following the transaction, the director owned 27,052 shares in the company, 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 have sold a total of 14,498 shares of company stock worth $2,201,175 over the last quarter. Company insiders own 3.90% of the company's stock.

The Ensign Group Stock Down 1.1%

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

The Ensign Group (NASDAQ:ENSG - Get Free Report) last issued its earnings results on Thursday, July 24th. The company reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.05. The firm 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 business's revenue was up 18.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.32 earnings per share. The Ensign Group has set its FY 2025 guidance at 6.340-6.460 EPS. As a group, analysts predict that The Ensign Group, Inc. will post 5.59 EPS for the current year.

The Ensign Group Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were given a dividend of $0.0625 per share. 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 4.54%.

About The Ensign Group

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.