Norges Bank Makes New Investment in The Ensign Group, Inc. (NASDAQ:ENSG)

Norges Bank purchased a new stake in The Ensign Group, Inc. (NASDAQ:ENSG) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 683,024 shares of the company’s stock, valued at approximately $90,747,000. Norges Bank owned 1.19% of The Ensign Group as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Raymond James Financial Inc. bought a new stake in The Ensign Group in the fourth quarter valued at $36,167,000. Wellington Management Group LLP increased its holdings in shares of The Ensign Group by 54.6% in the 3rd quarter. Wellington Management Group LLP now owns 649,764 shares of the company’s stock worth $93,449,000 after acquiring an additional 229,586 shares during the period. World Investment Advisors LLC bought a new stake in The Ensign Group in the 3rd quarter valued at about $21,744,000. JPMorgan Chase & Co. boosted its stake in The Ensign Group by 26.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 379,608 shares of the company’s stock valued at $54,595,000 after purchasing an additional 78,570 shares during the period. Finally, Barclays PLC grew its position in The Ensign Group by 260.3% in the 3rd quarter. Barclays PLC now owns 107,288 shares of the company’s stock worth $15,430,000 after purchasing an additional 77,514 shares during the last quarter. Institutional investors own 96.12% of the company’s stock.

The Ensign Group Stock Up 1.4 %

Shares of ENSG stock opened at $132.25 on Thursday. 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 stock has a market cap of $7.60 billion, a PE ratio of 25.88, a price-to-earnings-growth ratio of 1.52 and a beta of 0.98. The business’s fifty day moving average is $131.89 and its 200-day moving average is $139.63. The Ensign Group, Inc. has a 1 year low of $113.27 and a 1 year high of $158.45.

The Ensign Group (NASDAQ:ENSG) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $1.36 EPS for the quarter, missing the consensus estimate of $1.47 by ($0.11). The Ensign Group had a return on equity of 17.07% and a net margin of 6.99%. Equities analysts expect that The Ensign Group, Inc. will post 5.59 earnings per share for the current fiscal year.

The Ensign Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a $0.0625 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.25 annualized dividend and a yield of 0.19%. The Ensign Group’s dividend payout ratio (DPR) is 4.89%.

Insider Buying and Selling at The Ensign Group

In other news, Chairman Christopher R. Christensen sold 39,086 shares of The Ensign Group stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $148.52, for a total value of $5,805,052.72. Following the transaction, the chairman now directly owns 12,539 shares of the company’s stock, valued at $1,862,292.28. This trade represents a 75.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Barry M. Smith sold 700 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $129.15, for a total transaction of $90,405.00. Following the completion of the sale, the director now owns 30,052 shares of the company’s stock, valued at approximately $3,881,215.80. This trade represents a 2.28 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 42,486 shares of company stock valued at $6,251,714. Corporate insiders own 3.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Macquarie lifted their price target on The Ensign Group from $165.00 to $166.00 and gave the company an “outperform” rating in a report on Tuesday, February 4th. Truist Financial reduced their price target on The Ensign Group from $170.00 to $155.00 and set a “hold” rating for the company in a research report on Monday, January 6th. Finally, Stephens reissued an “overweight” rating and set a $155.00 price target on shares of The Ensign Group in a report on Thursday, February 6th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, The Ensign Group has an average rating of “Moderate Buy” and an average price target of $165.17.

The Ensign Group Company 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.