Verition Fund Management LLC Makes New $3.66 Million Investment in The Ensign Group, Inc. (NASDAQ:ENSG)

Verition Fund Management LLC purchased a new stake in The Ensign Group, Inc. (NASDAQ:ENSG - Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 25,463 shares of the company's stock, valued at approximately $3,662,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Opal Wealth Advisors LLC bought a new stake in The Ensign Group during the 2nd quarter worth about $31,000. Signaturefd LLC raised its holdings in 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 acquiring an additional 152 shares in the last quarter. USA Financial Formulas acquired a new position in The Ensign Group during the third quarter valued at approximately $54,000. UMB Bank n.a. grew its stake in The Ensign Group by 30.1% in the third quarter. UMB Bank n.a. now owns 385 shares of the company's stock valued at $55,000 after purchasing an additional 89 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in shares of The Ensign Group during the 2nd quarter worth approximately $49,000. 96.12% of the stock is owned by institutional investors and hedge funds.

The Ensign Group Stock Performance

ENSG traded up $1.17 during trading on Wednesday, hitting $145.62. The stock had a trading volume of 273,348 shares, compared to its average volume of 375,581. 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 $147.87 and a 200-day moving average price of $139.47. The Ensign Group, Inc. has a one year low of $104.18 and a one year high of $158.45. The firm has a market cap of $8.34 billion, a price-to-earnings ratio of 34.98, a P/E/G ratio of 1.93 and a beta of 0.92.

The Ensign Group (NASDAQ:ENSG - Get Free Report) last announced its earnings results on Thursday, October 24th. The company reported $1.39 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.08 billion during the quarter, compared to analysts' expectations of $1.07 billion. During the same quarter in the previous year, the business posted $1.10 earnings per share. The Ensign Group's quarterly revenue was up 15.0% on a year-over-year basis. As a group, research analysts predict that The Ensign Group, Inc. will post 5.02 EPS for the current year.

The Ensign Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.16%. The ex-dividend date was Monday, September 30th. The Ensign Group's dividend payout ratio (DPR) is currently 5.81%.

Insider Buying and Selling

In other news, CEO Barry Port sold 2,000 shares of the business's stock in a transaction that occurred 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 directly owns 53,716 shares in the company, valued at approximately $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 can be accessed through this hyperlink. 3.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Truist Financial raised their target price on shares of The Ensign Group from $160.00 to $170.00 and gave the company a "hold" rating in a research note on Monday, October 28th. Royal Bank of Canada boosted their price objective on shares of The Ensign Group from $167.00 to $172.00 and gave the stock an "outperform" rating in a research note 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 note on Friday, October 25th. UBS Group assumed coverage on The Ensign Group in a research report on Thursday, November 21st. They issued a "buy" rating and a $175.00 price objective for the company. Finally, Stephens boosted their target price on The Ensign Group from $163.00 to $167.00 and gave the stock an "overweight" rating in a report on Monday, October 28th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, The Ensign Group presently has a consensus rating of "Moderate Buy" and an average target price of $164.33.

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.