Trust Point Inc. Trims Holdings in The Ensign Group, Inc. (NASDAQ:ENSG)

Trust Point Inc. cut its stake in The Ensign Group, Inc. (NASDAQ:ENSG - Free Report) by 36.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,745 shares of the company's stock after selling 4,348 shares during the quarter. Trust Point Inc.'s holdings in The Ensign Group were worth $1,002,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Wasatch Advisors LP grew its position in shares of The Ensign Group by 4.8% in the fourth quarter. Wasatch Advisors LP now owns 3,497,137 shares of the company's stock valued at $464,630,000 after purchasing an additional 159,691 shares in the last quarter. FMR LLC grew its position in shares of The Ensign Group by 4.3% in the fourth quarter. FMR LLC now owns 2,082,647 shares of the company's stock valued at $276,701,000 after purchasing an additional 86,676 shares in the last quarter. Northern Trust Corp grew its position in shares of The Ensign Group by 26.7% in the fourth quarter. Northern Trust Corp now owns 937,930 shares of the company's stock valued at $124,613,000 after purchasing an additional 197,865 shares in the last quarter. Norges Bank purchased a new position in shares of The Ensign Group in the fourth quarter valued at $90,747,000. Finally, Bank of New York Mellon Corp grew its position in shares of The Ensign Group by 8.2% in the fourth quarter. Bank of New York Mellon Corp now owns 557,717 shares of the company's stock valued at $74,098,000 after purchasing an additional 42,184 shares in the last quarter. 96.12% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Macquarie dropped their price objective on 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. One 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 presently has an average rating of "Moderate Buy" and an average price target of $163.50.

The Ensign Group Price Performance

NASDAQ:ENSG opened at $151.24 on Monday. The firm has a market capitalization of $8.70 billion, a price-to-earnings ratio of 29.60, a P/E/G ratio of 1.52 and a beta of 1.03. The Ensign Group, Inc. has a 52-week low of $118.56 and a 52-week high of $158.45. The stock has a fifty day moving average of $138.29 and a 200 day moving average of $135.47. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.56 and a current ratio of 1.56.

The Ensign Group (NASDAQ:ENSG - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.02. The Ensign Group had a return on equity of 17.07% and a net margin of 6.99%. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the previous year, the company posted $1.30 earnings per share. The company's revenue was up 16.1% compared to the same quarter last year. On average, research analysts expect that The Ensign Group, Inc. will post 5.59 EPS for the current fiscal year.

The Ensign Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were paid a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.17%. The ex-dividend date of this dividend was Monday, March 31st. The Ensign Group's dividend payout ratio (DPR) is currently 4.73%.

Insiders Place Their Bets

In other news, VP Beverly B. Wittekind sold 3,539 shares of The Ensign Group stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $150.00, for a total value of $530,850.00. Following the transaction, the vice president now owns 39,209 shares in the company, valued at approximately $5,881,350. The trade was a 8.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daren Shaw sold 1,999 shares of The Ensign Group stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $145.47, for a total value of $290,794.53. Following the completion of the transaction, the director now owns 24,926 shares in the company, 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. Corporate 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.

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