JPMorgan Chase & Co. Raises Stake in The Ensign Group, Inc. (NASDAQ:ENSG)

JPMorgan Chase & Co. lifted its stake in The Ensign Group, Inc. (NASDAQ:ENSG - Free Report) by 9.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 415,902 shares of the company's stock after purchasing an additional 36,294 shares during the period. JPMorgan Chase & Co. owned 0.72% of The Ensign Group worth $55,257,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ENSG. Retirement Wealth Solutions LLC bought a new stake in shares of The Ensign Group during the 4th quarter worth approximately $25,000. Avior Wealth Management LLC increased its holdings in The Ensign Group by 190.1% during the fourth quarter. Avior Wealth Management LLC now owns 206 shares of the company's stock worth $27,000 after buying an additional 135 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in The Ensign Group by 150.6% during the fourth quarter. Venturi Wealth Management LLC now owns 208 shares of the company's stock worth $28,000 after buying an additional 125 shares during the last quarter. CBIZ Investment Advisory Services LLC increased its holdings in 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 buying an additional 99 shares during the last quarter. Finally, Asset Planning Inc purchased a new stake in The Ensign Group during the fourth quarter worth about $80,000. Institutional investors and hedge funds own 96.12% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ENSG. Stephens reiterated an "overweight" rating and set a $155.00 target price on shares of The Ensign Group in a research report on Thursday, February 6th. Macquarie boosted their price objective on shares of The Ensign Group from $165.00 to $166.00 and gave the stock an "outperform" rating in a report on Tuesday, February 4th. Finally, Truist Financial dropped their price target on shares of 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. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $165.17.

Insiders Place Their Bets

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

The Ensign Group Price Performance

Shares of The Ensign Group stock traded down $1.31 on Thursday, hitting $127.98. 27,713 shares of the company traded hands, compared to its average volume of 459,132. The stock has a market capitalization of $7.35 billion, a P/E ratio of 25.05, a price-to-earnings-growth ratio of 1.52 and a beta of 0.91. 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 Ensign Group, Inc. has a 52 week low of $113.27 and a 52 week high of $158.45. The business has a 50-day simple moving average of $130.16 and a 200 day simple moving average of $138.54.

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

The Ensign Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.0625 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.25 dividend on an annualized basis and a yield of 0.20%. The Ensign Group's dividend payout ratio is presently 4.89%.

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.