Connor Clark & Lunn Investment Management Ltd. Purchases New Position in The Ensign Group, Inc. (NASDAQ:ENSG)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of The Ensign Group, Inc. (NASDAQ:ENSG) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 66,508 shares of the company’s stock, valued at approximately $9,565,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.12% of The Ensign Group at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Opal Wealth Advisors LLC purchased a new position in The Ensign Group in the 2nd quarter worth approximately $31,000. EntryPoint Capital LLC acquired a new stake in The Ensign Group during the 1st quarter valued at $34,000. Signaturefd LLC increased its stake in The Ensign Group by 115.2% during the 3rd quarter. Signaturefd LLC now owns 284 shares of the company’s stock worth $41,000 after buying an additional 152 shares during the period. LRI Investments LLC acquired a new position in The Ensign Group in the 1st quarter worth $45,000. Finally, Canada Pension Plan Investment Board purchased a new position in The Ensign Group in the 2nd quarter valued at about $49,000. Hedge funds and other institutional investors own 96.12% of the company’s stock.

The Ensign Group Price Performance

ENSG opened at $147.36 on Friday. The firm has a market capitalization of $8.44 billion, a P/E ratio of 35.68, a PEG ratio of 1.92 and a beta of 0.95. The stock has a fifty day moving average of $148.98 and a 200-day moving average of $137.57. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.08. The Ensign Group, Inc. has a 12-month low of $104.18 and a 12-month high of $158.45.

The Ensign Group (NASDAQ:ENSG) last issued its earnings results on Thursday, October 24th. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the company earned $1.10 EPS. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. Equities analysts forecast that The Ensign Group, Inc. will post 5.02 EPS for the current fiscal year.

The Ensign Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were issued a dividend of $0.06 per share. 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 is currently 5.81%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. UBS Group initiated coverage on The Ensign Group in a report on Thursday. They issued a “buy” rating and a $175.00 price target for the company. Royal Bank of Canada increased their target price on The Ensign Group from $167.00 to $172.00 and gave the company an “outperform” rating in a research note on Monday, October 28th. Oppenheimer lifted their price target on shares of The Ensign Group from $165.00 to $168.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Truist Financial increased their price objective 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. Finally, Stephens upped their target price on shares of The Ensign Group from $163.00 to $167.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $164.33.

Insider Transactions at The Ensign Group

In related news, CEO Barry Port sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $155.00, for a total value of $310,000.00. Following the completion of the sale, the chief executive officer now owns 53,716 shares of the company’s stock, 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 SEC, which can be accessed through this link. 3.90% of the stock is currently owned by company insiders.

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.