Covenant Partners LLC Makes New $202,000 Investment in The Ensign Group, Inc. (NASDAQ:ENSG)

Covenant Partners LLC acquired a new stake in shares of The Ensign Group, Inc. (NASDAQ:ENSG) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,804 shares of the company’s stock, valued at approximately $202,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ENSG. Capital Research Global Investors raised its position in The Ensign Group by 9.2% in the 4th quarter. Capital Research Global Investors now owns 2,620,360 shares of the company’s stock valued at $294,031,000 after buying an additional 221,838 shares during the last quarter. Crewe Advisors LLC raised its holdings in shares of The Ensign Group by 3.1% in the fourth quarter. Crewe Advisors LLC now owns 1,211,171 shares of the company’s stock valued at $135,905,000 after purchasing an additional 36,587 shares during the last quarter. Northern Trust Corp lifted its position in shares of The Ensign Group by 8.4% during the third quarter. Northern Trust Corp now owns 788,500 shares of the company’s stock valued at $73,275,000 after purchasing an additional 61,127 shares in the last quarter. FMR LLC boosted its holdings in The Ensign Group by 3.2% during the third quarter. FMR LLC now owns 750,388 shares of the company’s stock worth $69,734,000 after purchasing an additional 23,215 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in The Ensign Group by 1.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 732,166 shares of the company’s stock worth $82,156,000 after purchasing an additional 7,110 shares in the last quarter. 96.12% of the stock is owned by institutional investors.

Insider Activity at The Ensign Group

In other news, Director Ann Scott Blouin sold 350 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $116.47, for a total value of $40,764.50. Following the sale, the director now owns 20,002 shares of the company’s stock, valued at $2,329,632.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Ann Scott Blouin sold 350 shares of The Ensign Group stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $116.47, for a total value of $40,764.50. Following the completion of the transaction, the director now directly owns 20,002 shares in the company, valued at $2,329,632.94. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Daren Shaw sold 2,000 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $118.26, for a total value of $236,520.00. Following the sale, the director now directly owns 30,250 shares in the company, valued at approximately $3,577,365. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,813 shares of company stock worth $808,203. Company insiders own 3.90% of the company’s stock.

The Ensign Group Stock Performance

ENSG traded down $0.65 during midday trading on Friday, reaching $118.96. The company had a trading volume of 201,659 shares, compared to its average volume of 262,335. The business has a 50-day moving average price of $118.68 and a two-hundred day moving average price of $117.82. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.53 and a current ratio of 1.53. The Ensign Group, Inc. has a 12-month low of $88.79 and a 12-month high of $127.57. The stock has a market cap of $6.77 billion, a PE ratio of 31.31, a P/E/G ratio of 1.62 and a beta of 0.99.

The Ensign Group (NASDAQ:ENSG) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $1.19 EPS for the quarter, meeting the consensus estimate of $1.19. The Ensign Group had a return on equity of 17.60% and a net margin of 5.67%. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.01 billion. On average, sell-side analysts expect that The Ensign Group, Inc. will post 4.95 earnings per share for the current fiscal year.

The Ensign Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Sunday, March 31st were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.20%. The ex-dividend date was Wednesday, March 27th. The Ensign Group’s dividend payout ratio (DPR) is currently 6.32%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Stephens reissued an “overweight” rating and set a $135.00 target price on shares of The Ensign Group in a research report on Tuesday, April 23rd. Oppenheimer lifted their price target on The Ensign Group from $130.00 to $135.00 and gave the stock an “outperform” rating in a report on Monday, May 6th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $124.60.

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.