Vestcor Inc Sells 11,234 Shares of The Ensign Group, Inc. (NASDAQ:ENSG)

Key Points

• Vestcor Inc significantly reduced its stake in The Ensign Group, cutting its holdings by 66.5% during the 1st quarter, leaving it with 5,659 shares valued at $732,000.
• Several other institutional investors adjusted their positions, with XTX Topco Ltd increasing its holdings by 243.1% during the same period, showing a diversity in institutional interest.
• Analysts maintain a consensus rating of "Moderate Buy" for The Ensign Group, with price targets ranging from $156.00 to $170.00 as the company reported a quarterly EPS of $1.59, surpassing estimates.

Vestcor Inc decreased its position in shares of The Ensign Group, Inc. (NASDAQ:ENSG - Free Report) by 66.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,659 shares of the company's stock after selling 11,234 shares during the quarter. Vestcor Inc's holdings in The Ensign Group were worth $732,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in ENSG. TCTC Holdings LLC boosted 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 valued at $27,000 after buying an additional 112 shares in the last quarter. Opal Wealth Advisors LLC purchased a new position in shares of The Ensign Group during the 1st quarter worth approximately $36,000. AdvisorNet Financial Inc purchased a new position in shares of The Ensign Group during the 1st quarter worth approximately $38,000. Blue Trust Inc. increased its stake in shares of The Ensign Group by 39.0% during the 1st quarter. Blue Trust Inc. now owns 467 shares of the company's stock worth $60,000 after purchasing an additional 131 shares in the last quarter. Finally, CWM LLC increased its stake in shares of 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 purchasing an additional 89 shares in the last quarter. Hedge funds and other institutional investors own 96.12% of the company's stock.

The Ensign Group Price Performance

Shares of ENSG stock traded up $0.46 during midday trading on Thursday, reaching $158.59. 318,338 shares of the company were exchanged, compared to its average volume of 432,632. The company's 50 day moving average price is $148.93 and its two-hundred day moving average price is $138.49. The company has a market cap of $9.15 billion, a P/E ratio of 28.76, a PEG ratio of 1.84 and a beta of 1.02. The Ensign Group, Inc. has a 12 month low of $118.73 and a 12 month high of $159.63. 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 (NASDAQ:ENSG - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The company reported $1.59 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the business earned $1.32 EPS. The company's revenue for the quarter was up 18.5% compared to the same quarter last year. On average, sell-side analysts expect that The Ensign Group, Inc. will post 5.59 earnings per share for the current year.

The Ensign Group Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were issued a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Monday, June 30th. The Ensign Group's dividend payout ratio (DPR) is currently 4.54%.

Analyst Ratings Changes

ENSG has been the subject of a number of analyst reports. 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. Macquarie lowered their price objective on shares of The Ensign Group from $159.00 to $156.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Finally, Stephens increased their price objective on shares of The Ensign Group from $165.00 to $170.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, The Ensign Group has a consensus rating of "Moderate Buy" and an average price target of $167.67.

Insider Activity

In other The Ensign Group news, CFO Suzanne D. Snapper sold 8,379 shares of the firm's stock in a transaction dated 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 sale, the chief financial officer owned 269,692 shares in the company, valued at approximately $39,971,051.32. This trade represents a 3.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Daren Shaw sold 1,999 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $145.47, for a total transaction of $290,794.53. Following the transaction, the director owned 24,926 shares of the company's stock, valued at approximately $3,625,985.22. This represents a 7.42% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,336 shares of company stock valued at $2,902,377. Company insiders own 3.90% of the company's stock.

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.