Pinebridge Investments L.P. increased its holdings in shares of The Ensign Group, Inc. (NASDAQ:ENSG) by 224.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,821 shares of the company’s stock after purchasing an additional 26,170 shares during the period. Pinebridge Investments L.P. owned approximately 0.07% of The Ensign Group worth $2,153,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its holdings in The Ensign Group by 100.6% in the second quarter. JPMorgan Chase & Co. now owns 776,107 shares of the company’s stock worth $43,680,000 after acquiring an additional 389,284 shares in the last quarter. Monarch Partners Asset Management LLC bought a new position in The Ensign Group in the second quarter worth approximately $11,756,000. Copeland Capital Management LLC boosted its holdings in The Ensign Group by 21.2% in the second quarter. Copeland Capital Management LLC now owns 815,400 shares of the company’s stock worth $46,413,000 after acquiring an additional 142,478 shares in the last quarter. Allianz Asset Management GmbH boosted its holdings in The Ensign Group by 94.4% in the second quarter. Allianz Asset Management GmbH now owns 272,805 shares of the company’s stock worth $15,528,000 after acquiring an additional 132,463 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in The Ensign Group by 33.6% in the second quarter. Russell Investments Group Ltd. now owns 395,496 shares of the company’s stock worth $22,508,000 after acquiring an additional 99,422 shares in the last quarter. 81.88% of the stock is owned by institutional investors and hedge funds.
Several research analysts have issued reports on the company. ValuEngine upgraded The Ensign Group from a “hold” rating to a “buy” rating in a report on Wednesday, September 4th. BidaskClub lowered The Ensign Group from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Stifel Nicolaus increased their price target on The Ensign Group from $52.00 to $56.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $51.25.
In other news, insider Spencer Burton sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $60.00, for a total value of $60,000.00. Following the transaction, the insider now owns 19,351 shares in the company, valued at $1,161,060. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 2,612 shares of company stock worth $149,118 in the last 90 days. Corporate insiders own 6.70% of the company’s stock.
Shares of ENSG stock traded up $0.49 during trading hours on Monday, reaching $49.00. The company had a trading volume of 5,939 shares, compared to its average volume of 237,021. The Ensign Group, Inc. has a 12 month low of $35.80 and a 12 month high of $63.00. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.15 and a quick ratio of 1.15. The business has a fifty day simple moving average of $52.07 and a 200-day simple moving average of $53.03. The company has a market cap of $2.60 billion, a price-to-earnings ratio of 27.35, a price-to-earnings-growth ratio of 1.54 and a beta of 0.91.
The Ensign Group (NASDAQ:ENSG) last posted its earnings results on Thursday, August 1st. The company reported $0.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.01. The Ensign Group had a return on equity of 17.32% and a net margin of 4.74%. The company had revenue of $575.65 million for the quarter, compared to analyst estimates of $574.24 million. During the same quarter last year, the company earned $0.44 earnings per share. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. On average, equities research analysts expect that The Ensign Group, Inc. will post 2.11 earnings per share for the current year.
The Ensign Group Company Profile
The Ensign Group, Inc provides health care services in the post-acute care continuum and other ancillary businesses. The company operates in three segments: Transitional and Skilled Services; Assisted and Independent Living Services; and Home Health and Hospice Services. The Transitional and Skilled Services segment offers a range of medical, nursing, rehabilitative, and pharmacy services, as well as routine services, such as daily dietary, social, and recreational services to Medicaid, private pay, managed care, and Medicare payors.
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