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

JPMorgan Chase & Co. raised its position in shares of The Ensign Group, Inc. (NASDAQ:ENSG - Free Report) by 26.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 379,608 shares of the company's stock after purchasing an additional 78,570 shares during the quarter. JPMorgan Chase & Co. owned 0.66% of The Ensign Group worth $54,595,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Signaturefd LLC raised its holdings in shares of The Ensign Group by 115.2% during the third quarter. Signaturefd LLC now owns 284 shares of the company's stock worth $41,000 after purchasing an additional 152 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of The Ensign Group during the 2nd quarter valued at about $49,000. USA Financial Formulas acquired a new position in shares of The Ensign Group in the 3rd quarter valued at about $54,000. UMB Bank n.a. boosted its stake in shares of The Ensign Group by 30.1% in the third quarter. UMB Bank n.a. now owns 385 shares of the company's stock worth $55,000 after buying an additional 89 shares during the last quarter. Finally, Quarry LP grew its holdings in The Ensign Group by 294.2% during the second quarter. Quarry LP now owns 477 shares of the company's stock worth $59,000 after acquiring an additional 356 shares during the period. 96.12% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Barry Port sold 2,000 shares of the business's stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $155.00, for a total transaction of $310,000.00. Following the transaction, the chief executive officer now directly owns 53,716 shares in the company, valued at approximately $8,325,980. The trade was a 3.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ENSG has been the subject of a number of analyst reports. UBS Group assumed coverage on The Ensign Group in a report on Thursday, November 21st. They issued a "buy" rating and a $175.00 price target for the company. Royal Bank of Canada boosted their target price on shares of The Ensign Group from $167.00 to $172.00 and gave the company an "outperform" rating in a research note on Monday, October 28th. Stephens raised their price target on shares of The Ensign Group from $163.00 to $167.00 and gave the company an "overweight" rating in a research report on Monday, October 28th. Oppenheimer upped their price objective 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 raised their target price on 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 analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $164.33.

The Ensign Group Price Performance

NASDAQ:ENSG traded down $0.37 during trading hours on Friday, reaching $132.50. 413,605 shares of the company were exchanged, compared to its average volume of 404,852. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.08. The firm has a market cap of $7.59 billion, a PE ratio of 32.08, a price-to-earnings-growth ratio of 1.90 and a beta of 0.93. The Ensign Group, Inc. has a twelve month low of $110.71 and a twelve month high of $158.45. The stock's 50-day moving average is $143.52 and its 200-day moving average is $142.40.

The Ensign Group (NASDAQ:ENSG - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the firm earned $1.10 EPS. The company's revenue for the quarter was up 15.0% on a year-over-year basis. On average, sell-side analysts anticipate that The Ensign Group, Inc. will post 5.03 earnings per share for the current fiscal year.

The Ensign Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid 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 dividend on an annualized basis and a dividend yield of 0.19%. The Ensign Group's payout ratio is currently 6.05%.

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.