Synovus Financial Corp Purchases 6,931 Shares of The Ensign Group, Inc. (NASDAQ:ENSG)

Synovus Financial Corp raised its position in The Ensign Group, Inc. (NASDAQ:ENSG - Free Report) by 90.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,618 shares of the company's stock after purchasing an additional 6,931 shares during the period. Synovus Financial Corp's holdings in The Ensign Group were worth $2,102,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of ENSG. CWM LLC raised its holdings in The Ensign Group by 16.2% during the 3rd quarter. CWM LLC now owns 508 shares of the company's stock worth $73,000 after buying an additional 71 shares during the period. Farther Finance Advisors LLC boosted its stake in The Ensign Group by 0.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 7,908 shares of the company's stock worth $982,000 after purchasing an additional 72 shares during the period. Miller Howard Investments Inc. NY increased its holdings in The Ensign Group by 2.4% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 3,018 shares of the company's stock worth $373,000 after purchasing an additional 72 shares in the last quarter. Blue Trust Inc. raised its stake in shares of The Ensign Group by 21.2% in the 2nd quarter. Blue Trust Inc. now owns 429 shares of the company's stock valued at $53,000 after purchasing an additional 75 shares during the period. Finally, Harfst & Associates Inc. lifted its holdings in shares of The Ensign Group by 0.7% in the second quarter. Harfst & Associates Inc. now owns 12,221 shares of the company's stock valued at $1,512,000 after purchasing an additional 89 shares in the last quarter. 96.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at The Ensign Group

In related news, CEO Barry Port sold 2,000 shares of the company's stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $155.00, for a total value of $310,000.00. Following the transaction, the chief executive officer now owns 53,716 shares in the company, valued at approximately $8,325,980. This represents a 3.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ENSG shares. Truist Financial increased their price objective on The Ensign Group from $160.00 to $170.00 and gave the stock a "hold" rating in a report on Monday, October 28th. Stephens lifted their price objective on shares of The Ensign Group from $163.00 to $167.00 and gave the company an "overweight" rating in a report on Monday, October 28th. Oppenheimer raised their target price on shares of The Ensign Group from $165.00 to $168.00 and gave the company an "outperform" rating in a research report on Friday, October 25th. UBS Group initiated coverage on shares of The Ensign Group in a research report on Thursday, November 21st. They set a "buy" rating and a $175.00 price target on the stock. Finally, Royal Bank of Canada raised their price objective on The Ensign Group from $167.00 to $172.00 and gave the company an "outperform" rating in a 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 company. According to MarketBeat, The Ensign Group presently has a consensus rating of "Moderate Buy" and an average target price of $164.33.

The Ensign Group Stock Performance

NASDAQ ENSG traded down $0.06 on Monday, hitting $142.36. 192,183 shares of the stock were exchanged, compared to its average volume of 371,719. The company has a market capitalization of $8.16 billion, a PE ratio of 34.47, a P/E/G ratio of 1.90 and a beta of 0.92. The business's fifty day moving average is $147.43 and its 200 day moving average is $141.00. The Ensign Group, Inc. has a 52 week low of $110.29 and a 52 week high of $158.45. 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 Ensign Group (NASDAQ:ENSG - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.01. The Ensign Group had a return on equity of 17.21% and a net margin of 5.84%. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the company earned $1.10 earnings per share. The business's revenue for the quarter was up 15.0% compared to the same quarter last year. Research analysts anticipate that The Ensign Group, Inc. will post 5.03 EPS for the current fiscal year.

The Ensign Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a $0.0625 dividend. The ex-dividend date is Tuesday, December 31st. This is a positive change from The Ensign Group's previous quarterly dividend of $0.06. This represents a $0.25 annualized dividend and a dividend yield of 0.18%. The Ensign Group's dividend payout ratio is presently 6.05%.

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.