Envestnet Portfolio Solutions Inc. Reduces Stock Holdings in The Ensign Group, Inc. (NASDAQ:ENSG)

Envestnet Portfolio Solutions Inc. reduced its position in The Ensign Group, Inc. (NASDAQ:ENSG) by 7.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,564 shares of the company’s stock after selling 674 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in The Ensign Group were worth $1,059,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. purchased a new stake in The Ensign Group during the fourth quarter valued at about $211,000. Vontobel Holding Ltd. lifted its stake in shares of The Ensign Group by 5.3% during the 4th quarter. Vontobel Holding Ltd. now owns 5,659 shares of the company’s stock valued at $635,000 after buying an additional 287 shares in the last quarter. Strs Ohio boosted its holdings in The Ensign Group by 8.1% in the 4th quarter. Strs Ohio now owns 6,700 shares of the company’s stock worth $751,000 after buying an additional 500 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in The Ensign Group by 6.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,521 shares of the company’s stock valued at $1,405,000 after buying an additional 806 shares in the last quarter. Finally, Knights of Columbus Asset Advisors LLC raised its holdings in The Ensign Group by 8.5% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 1,353 shares of the company’s stock valued at $152,000 after acquiring an additional 106 shares during the period. 96.12% of the stock is currently owned by institutional investors.

Insider Activity at The Ensign Group

In other The Ensign Group news, CEO Barry Port sold 3,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $140.00, for a total transaction of $420,000.00. Following the completion of the sale, the chief executive officer now directly owns 53,716 shares in the company, valued at $7,520,240. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Barry Port sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $140.00, for a total transaction of $420,000.00. Following the completion of the transaction, the chief executive officer now owns 53,716 shares in the company, valued at $7,520,240. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Spencer Burton sold 7,519 shares of The Ensign Group stock in a transaction on Friday, July 12th. The shares were sold at an average price of $135.04, for a total transaction of $1,015,365.76. Following the completion of the sale, the chief operating officer now owns 42,629 shares in the company, valued at approximately $5,756,620.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,618 shares of company stock valued at $1,857,419. Corporate insiders own 3.90% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ENSG. Macquarie assumed coverage on The Ensign Group in a research report on Friday, June 28th. They issued an “outperform” rating and a $134.00 price target for the company. Stephens reaffirmed an “overweight” rating and set a $135.00 target price on shares of The Ensign Group in a report on Tuesday, April 23rd. Oppenheimer increased their price target on shares of The Ensign Group from $130.00 to $135.00 and gave the stock an “outperform” rating in a report on Monday, May 6th. Finally, Truist Financial boosted their price objective on shares of The Ensign Group from $150.00 to $160.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $134.50.

The Ensign Group Stock Performance

Shares of ENSG opened at $141.25 on Monday. The Ensign Group, Inc. has a 12-month low of $90.00 and a 12-month high of $147.93. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.09. The company has a market cap of $8.04 billion, a PE ratio of 37.17, a price-to-earnings-growth ratio of 1.88 and a beta of 0.99. The stock has a 50-day moving average price of $131.54 and a 200-day moving average price of $124.26.

The Ensign Group (NASDAQ:ENSG) last announced its earnings results on Thursday, July 25th. The company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.02. The Ensign Group had a net margin of 5.68% and a return on equity of 17.32%. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period last year, the firm posted $1.08 earnings per share. The Ensign Group’s quarterly revenue was up 12.5% on a year-over-year basis. As a group, equities analysts forecast that The Ensign Group, Inc. will post 4.95 earnings per share for the current fiscal year.

The Ensign Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Sunday, June 30th were given a dividend of $0.06 per share. The ex-dividend date was Friday, June 28th. This represents a $0.24 dividend on an annualized basis and a yield of 0.17%. The Ensign Group’s payout ratio is 6.32%.

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.