Allspring Global Investments Holdings LLC Boosts Holdings in The Ensign Group, Inc. (NASDAQ:ENSG)

Allspring Global Investments Holdings LLC lifted its stake in shares of The Ensign Group, Inc. (NASDAQ:ENSG) by 8.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 114,414 shares of the company’s stock after purchasing an additional 8,533 shares during the period. Allspring Global Investments Holdings LLC owned about 0.20% of The Ensign Group worth $14,925,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of ENSG. Opal Wealth Advisors LLC acquired a new stake in The Ensign Group in the 1st quarter worth about $36,000. AdvisorNet Financial Inc acquired a new stake in shares of The Ensign Group in the first quarter worth approximately $38,000. CBIZ Investment Advisory Services LLC increased its position in shares of The Ensign Group by 38.8% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 354 shares of the company’s stock worth $47,000 after purchasing an additional 99 shares in the last quarter. Blue Trust Inc. increased its position in shares of The Ensign Group by 39.0% during the first quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $60,000 after purchasing an additional 131 shares in the last quarter. Finally, UMB Bank n.a. raised its stake in The Ensign Group by 109.2% in the 1st quarter. UMB Bank n.a. now owns 822 shares of the company’s stock valued at $106,000 after purchasing an additional 429 shares during the last quarter. Institutional investors and hedge funds own 96.12% of the company’s stock.

Insider Activity

In other news, VP Beverly B. Wittekind sold 4,719 shares of the company’s stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $155.00, for a total value of $731,445.00. Following the transaction, the vice president owned 38,679 shares of the company’s stock, valued at $5,995,245. This represents a 10.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Daren Shaw sold 1,999 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $145.47, for a total value of $290,794.53. Following the transaction, the director owned 24,926 shares of the company’s stock, valued at approximately $3,625,985.22. This represents a 7.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,257 shares of company stock worth $1,553,090 over the last quarter. 3.90% of the stock is currently owned by company insiders.

The Ensign Group Price Performance

NASDAQ:ENSG opened at $148.90 on Thursday. The Ensign Group, Inc. has a one year low of $118.73 and a one year high of $158.45. The stock has a market cap of $8.56 billion, a PE ratio of 28.15, a P/E/G ratio of 1.75 and a beta of 1.03. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.40 and a current ratio of 1.40. The stock has a 50 day moving average price of $145.19 and a 200 day moving average price of $136.43.

The Ensign Group (NASDAQ:ENSG) last issued its earnings results on Tuesday, April 29th. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.02. The Ensign Group had a return on equity of 16.90% and a net margin of 6.99%. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the prior year, the business earned $1.30 EPS. The firm’s quarterly revenue was up 16.1% on a year-over-year basis. Equities research analysts expect that The Ensign Group, Inc. will post 5.59 EPS for the current fiscal year.

The Ensign Group Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a $0.0625 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.25 annualized dividend and a yield of 0.17%. The Ensign Group’s payout ratio is 4.73%.

Wall Street Analysts Forecast Growth

Separately, Macquarie lowered their target price on shares of The Ensign Group from $159.00 to $156.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.50.

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.