Fred Alger Management LLC Decreases Stock Position in The Ensign Group, Inc. (NASDAQ:ENSG)

Fred Alger Management LLC cut its holdings in shares of The Ensign Group, Inc. (NASDAQ:ENSG - Free Report) by 69.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,974 shares of the company's stock after selling 9,064 shares during the quarter. Fred Alger Management LLC's holdings in The Ensign Group were worth $528,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Retirement Wealth Solutions LLC bought a new position in shares of The Ensign Group in the fourth quarter worth approximately $25,000. Avior Wealth Management LLC boosted its holdings in shares of The Ensign Group by 190.1% during the 4th quarter. Avior Wealth Management LLC now owns 206 shares of the company's stock valued at $27,000 after buying an additional 135 shares in the last quarter. Venturi Wealth Management LLC raised its position in shares of The Ensign Group by 150.6% in the 4th quarter. Venturi Wealth Management LLC now owns 208 shares of the company's stock worth $28,000 after purchasing an additional 125 shares during the last quarter. CBIZ Investment Advisory Services LLC raised its position in shares of The Ensign Group by 38.8% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 354 shares of the company's stock worth $47,000 after purchasing an additional 99 shares during the last quarter. Finally, Asset Planning Inc purchased a new position in shares of The Ensign Group in the 4th quarter worth about $80,000. 96.12% of the stock is owned by hedge funds and other institutional investors.

The Ensign Group Stock Performance

Shares of NASDAQ ENSG traded up $1.23 during midday trading on Wednesday, hitting $144.79. 1,259,744 shares of the company's stock traded hands, compared to its average volume of 438,805. The Ensign Group, Inc. has a 1 year low of $116.23 and a 1 year high of $158.45. The stock has a market capitalization of $8.32 billion, a price-to-earnings ratio of 28.33, a price-to-earnings-growth ratio of 1.52 and a beta of 1.03. 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 firm has a fifty day moving average of $129.63 and a 200 day moving average of $135.69.

The Ensign Group (NASDAQ:ENSG - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.50 by $0.02. The Ensign Group had a net margin of 6.99% and a return on equity of 17.07%. 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 prior year, the firm earned $1.30 EPS. The business's revenue for the quarter was up 16.1% compared to the same quarter last year. On average, analysts forecast that The Ensign Group, Inc. will post 5.59 earnings per share for the current year.

The Ensign Group Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Macquarie lowered their price target on The Ensign Group from $159.00 to $156.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Stephens reaffirmed an "overweight" rating and issued a $155.00 price target on shares of The Ensign Group in a research report on Thursday, February 6th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $163.50.

Insider Activity at The Ensign Group

In related news, Director Barry M. Smith sold 700 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $129.15, for a total transaction of $90,405.00. Following the completion of the transaction, the director now directly owns 30,052 shares in the company, valued at approximately $3,881,215.80. The trade was a 2.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Daren Shaw sold 2,000 shares of the company's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $129.66, for a total value of $259,320.00. Following the completion of the transaction, the director now owns 26,325 shares of the company's stock, valued at $3,413,299.50. The trade was a 7.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by corporate insiders.

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.