Synovus Financial Corp Buys 2,184 Shares of The Ensign Group, Inc. $ENSG

Key Points

• Synovus Financial Corp increased its stake in The Ensign Group, Inc. by 25.0% during the first quarter, reaching a total of 10,932 shares valued at approximately $1.415 million.
• Investment analysts have set varying price targets for The Ensign Group, with UBS Group raising its target to $195.00, while the average price target now stands at $171.00.
• The company reported a strong quarterly earnings performance with a net margin of 6.99% and demonstrated year-over-year revenue growth of 18.5%.

Synovus Financial Corp increased its stake in shares of The Ensign Group, Inc. (NASDAQ:ENSG - Free Report) by 25.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,932 shares of the company's stock after acquiring an additional 2,184 shares during the period. Synovus Financial Corp's holdings in The Ensign Group were worth $1,415,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Forum Financial Management LP raised its holdings in shares of The Ensign Group by 5.8% during the fourth quarter. Forum Financial Management LP now owns 1,524 shares of the company's stock worth $202,000 after acquiring an additional 84 shares during the period. Wealth Alliance LLC raised its holdings in shares of The Ensign Group by 4.6% during the first quarter. Wealth Alliance LLC now owns 1,971 shares of the company's stock worth $255,000 after acquiring an additional 86 shares during the period. CWM LLC raised its holdings in shares of The Ensign Group by 17.9% during the first quarter. CWM LLC now owns 585 shares of the company's stock worth $76,000 after acquiring an additional 89 shares during the period. QRG Capital Management Inc. raised its holdings in shares of The Ensign Group by 1.6% during the first quarter. QRG Capital Management Inc. now owns 5,825 shares of the company's stock worth $754,000 after acquiring an additional 92 shares during the period. Finally, Baird Financial Group Inc. increased its stake in The Ensign Group by 1.9% in the 4th quarter. Baird Financial Group Inc. now owns 5,384 shares of the company's stock valued at $715,000 after buying an additional 99 shares during the last quarter. 96.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ENSG shares. Truist Financial lifted their price target on shares of The Ensign Group from $155.00 to $165.00 and gave the company a "hold" rating in a research note on Monday, July 28th. Stephens lifted their price target 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. Finally, UBS Group reiterated a "buy" rating and issued a $195.00 price target (up from $185.00) on shares of The Ensign Group in a research note on Thursday, August 14th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $171.00.

The Ensign Group Stock Performance

Shares of ENSG traded down $0.82 during midday trading on Monday, reaching $171.78. The stock had a trading volume of 407,261 shares, compared to its average volume of 384,783. The firm has a 50 day simple moving average of $154.74 and a 200-day simple moving average of $142.35. The Ensign Group, Inc. has a one year low of $118.73 and a one year high of $173.62. The firm has a market cap of $9.91 billion, a PE ratio of 31.18, a P/E/G ratio of 1.97 and a beta of 0.93. 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 Ensign Group (NASDAQ:ENSG - Get Free Report) last announced 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 net margin of 6.99% and a return on equity of 16.92%. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter last year, the firm posted $1.32 EPS. The company'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. As a group, sell-side analysts anticipate that The Ensign Group, Inc. will post 5.59 EPS for the current year.

The Ensign Group Cuts Dividend

The company also recently disclosed 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 0.1%. The ex-dividend date of this dividend was Monday, June 30th. The Ensign Group's dividend payout ratio (DPR) is 4.54%.

Insider Buying and Selling

In related news, VP Beverly B. Wittekind sold 4,719 shares of The Ensign Group stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $155.00, for a total transaction of $731,445.00. Following the completion of the sale, the vice president owned 38,679 shares of the company's stock, valued at approximately $5,995,245. The trade was a 10.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Barry M. Smith sold 700 shares of The Ensign Group stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $153.48, for a total transaction of $107,436.00. Following the sale, the director directly owned 27,852 shares of the company's stock, valued at $4,274,724.96. The trade was a 2.45% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,798 shares of company stock valued at $2,080,733. Company insiders own 3.90% of the company's stock.

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.