Connor Clark & Lunn Investment Management Ltd. Invests $9.57 Million in The Ensign Group, Inc. (NASDAQ:ENSG)

Connor Clark & Lunn Investment Management Ltd. bought a new stake in The Ensign Group, Inc. (NASDAQ:ENSG) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 66,508 shares of the company’s stock, valued at approximately $9,565,000.

A number of other large investors have also modified their holdings of ENSG. Baillie Gifford & Co. acquired a new stake in The Ensign Group during the third quarter worth $151,827,000. F M Investments LLC acquired a new stake in shares of The Ensign Group during the 2nd quarter valued at about $14,370,000. Bank of New York Mellon Corp boosted its position in shares of The Ensign Group by 11.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 571,532 shares of the company’s stock valued at $70,693,000 after acquiring an additional 59,933 shares in the last quarter. Victory Capital Management Inc. increased its stake in The Ensign Group by 26.5% in the third quarter. Victory Capital Management Inc. now owns 245,325 shares of the company’s stock valued at $35,283,000 after acquiring an additional 51,367 shares during the period. Finally, Grandeur Peak Global Advisors LLC acquired a new position in The Ensign Group in the first quarter worth about $5,167,000. 96.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Barry Port sold 2,000 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $155.00, for a total value of $310,000.00. Following the completion of the transaction, the chief executive officer now owns 53,716 shares of the company’s stock, valued at $8,325,980. The trade was a 3.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Stephens upped their price objective on The Ensign Group from $163.00 to $167.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Royal Bank of Canada increased their price objective on The Ensign Group from $167.00 to $172.00 and gave the stock an “outperform” rating in a research note on Monday, October 28th. UBS Group began coverage on shares of The Ensign Group in a research note on Thursday. They issued a “buy” rating and a $175.00 target price on the stock. Oppenheimer increased their target price on shares of The Ensign Group from $165.00 to $168.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, Truist Financial boosted their price target on shares of The Ensign Group from $160.00 to $170.00 and gave the company a “hold” rating in a research report on Monday, October 28th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $164.33.

The Ensign Group Stock Performance

ENSG stock opened at $147.36 on Friday. The stock has a market capitalization of $8.44 billion, a PE ratio of 35.68, a price-to-earnings-growth ratio of 1.92 and a beta of 0.95. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.56 and a quick ratio of 1.56. The company has a 50 day moving average price of $148.98 and a 200 day moving average price of $137.57. The Ensign Group, Inc. has a fifty-two week low of $104.18 and a fifty-two week high of $158.45.

The Ensign Group (NASDAQ:ENSG) last posted its quarterly earnings results on Thursday, October 24th. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. The Ensign Group had a net margin of 5.84% and a return on equity of 17.21%. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the firm posted $1.10 earnings per share. The Ensign Group’s revenue for the quarter was up 15.0% compared to the same quarter last year. Analysts forecast that The Ensign Group, Inc. will post 5.02 EPS for the current year.

The Ensign Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.24 annualized dividend and a dividend yield of 0.16%. The Ensign Group’s payout ratio is currently 5.81%.

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.