Palisade Asset Management LLC Takes Position in The Ensign Group, Inc. (NASDAQ:ENSG)

Palisade Asset Management LLC bought a new position in The Ensign Group, Inc. (NASDAQ:ENSG) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,126 shares of the company’s stock, valued at approximately $239,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its position in The Ensign Group by 1.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 732,166 shares of the company’s stock worth $82,156,000 after acquiring an additional 7,110 shares during the period. Sapient Capital LLC purchased a new stake in The Ensign Group in the fourth quarter worth about $217,000. Benjamin F. Edwards & Company Inc. bought a new position in shares of The Ensign Group during the 4th quarter valued at approximately $168,000. Westover Capital Advisors LLC raised its stake in The Ensign Group by 5.1% during the 4th quarter. Westover Capital Advisors LLC now owns 22,596 shares of the company’s stock worth $2,535,000 after acquiring an additional 1,101 shares during the period. Finally, SRS Capital Advisors Inc. lifted its holdings in The Ensign Group by 333.1% during the fourth quarter. SRS Capital Advisors Inc. now owns 576 shares of the company’s stock valued at $65,000 after purchasing an additional 443 shares in the last quarter. 96.12% of the stock is owned by institutional investors.

Insider Activity

In other news, Chairman Christopher R. Christensen sold 10,800 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $117.56, for a total value of $1,269,648.00. Following the sale, the chairman now owns 147,400 shares of the company’s stock, valued at $17,328,344. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, VP Beverly B. Wittekind sold 10,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $121.65, for a total transaction of $1,216,500.00. Following the transaction, the vice president now directly owns 37,912 shares of the company’s stock, valued at approximately $4,611,994.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Christopher R. Christensen sold 10,800 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $117.56, for a total transaction of $1,269,648.00. Following the completion of the transaction, the chairman now directly owns 147,400 shares of the company’s stock, valued at $17,328,344. The disclosure for this sale can be found here. Insiders sold 31,263 shares of company stock valued at $3,735,086 in the last ninety days. Insiders own 3.90% of the company’s stock.

The Ensign Group Price Performance

ENSG stock traded up $1.90 during trading on Tuesday, hitting $117.95. 298,475 shares of the company’s stock traded hands, compared to its average volume of 274,809. The business has a fifty day simple moving average of $121.20 and a 200 day simple moving average of $114.65. The Ensign Group, Inc. has a 52 week low of $87.14 and a 52 week high of $127.57. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.53 and a current ratio of 1.53. The stock has a market capitalization of $6.71 billion, a price-to-earnings ratio of 30.54, a P/E/G ratio of 1.57 and a beta of 0.95.

The Ensign Group Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Sunday, March 31st were given a dividend of $0.06 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.24 dividend on an annualized basis and a yield of 0.20%. The Ensign Group’s dividend payout ratio (DPR) is presently 6.32%.

Analyst Ratings Changes

A number of research analysts recently weighed in on ENSG shares. Oppenheimer lifted their target price on shares of The Ensign Group from $130.00 to $135.00 and gave the company an “outperform” rating in a research note on Monday. Stephens reissued an “overweight” rating and issued a $135.00 price target on shares of The Ensign Group in a report on Tuesday, April 23rd. Finally, Royal Bank of Canada boosted their target price on shares of The Ensign Group from $112.00 to $133.00 and gave the stock an “outperform” rating in a report on Tuesday, February 6th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, The Ensign Group has a consensus rating of “Moderate Buy” and an average price target of $124.60.

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.