Palisade Asset Management LLC Invests $239,000 in The Ensign Group, Inc. (NASDAQ:ENSG)

Palisade Asset Management LLC bought a new stake in The Ensign Group, Inc. (NASDAQ:ENSG) in the fourth quarter, Holdings Channel reports. The fund bought 2,126 shares of the company’s stock, valued at approximately $239,000.

Other large investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its holdings in shares of The Ensign Group by 25.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 725,056 shares of the company’s stock valued at $67,379,000 after buying an additional 147,698 shares in the last quarter. Epoch Investment Partners Inc. acquired a new position in The Ensign Group during the third quarter valued at $13,578,000. Van Berkom & Associates Inc. boosted its position in The Ensign Group by 13.8% during the 3rd quarter. Van Berkom & Associates Inc. now owns 1,000,973 shares of the company’s stock worth $93,020,000 after acquiring an additional 121,432 shares during the period. California Public Employees Retirement System increased its holdings in shares of The Ensign Group by 51.1% in the 3rd quarter. California Public Employees Retirement System now owns 274,881 shares of the company’s stock valued at $25,545,000 after purchasing an additional 93,003 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of The Ensign Group by 30.4% during the third quarter. Envestnet Asset Management Inc. now owns 332,115 shares of the company’s stock worth $30,863,000 after purchasing an additional 77,511 shares during the period. Institutional investors and hedge funds own 96.12% of the company’s stock.

The Ensign Group Stock Performance

Shares of NASDAQ:ENSG traded up $1.90 during midday trading on Tuesday, hitting $117.95. The company’s stock had a trading volume of 298,475 shares, compared to its average volume of 274,809. The stock’s 50 day simple moving average is $121.20 and its 200 day simple moving average is $114.65. The Ensign Group, Inc. has a fifty-two week low of $87.14 and a fifty-two week high of $127.57. The stock has a market capitalization of $6.71 billion, a price-to-earnings ratio of 30.54, a PEG ratio of 1.57 and a beta of 0.95. 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 Ensign Group Cuts Dividend

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

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Stephens restated an “overweight” rating and set a $135.00 price target on shares of The Ensign Group in a report on Tuesday, April 23rd. Oppenheimer increased their price objective on The Ensign Group from $130.00 to $135.00 and gave the stock an “outperform” rating in a report on Monday. 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 research report on Tuesday, February 6th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $124.60.

Insiders Place Their Bets

In other news, Director Daren Shaw sold 6,000 shares of The Ensign Group stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $119.67, for a total transaction of $718,020.00. Following the sale, the director now owns 31,375 shares of the company’s stock, valued at approximately $3,754,646.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other The Ensign Group news, Chairman Christopher R. Christensen sold 10,800 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $117.56, for a total value of $1,269,648.00. Following the sale, the chairman now directly owns 147,400 shares in the company, valued at $17,328,344. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daren Shaw sold 6,000 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $119.67, for a total transaction of $718,020.00. Following the completion of the sale, the director now owns 31,375 shares in the company, valued at approximately $3,754,646.25. The disclosure for this sale can be found here. Insiders have sold 31,263 shares of company stock worth $3,735,086 in the last ninety days. Insiders own 3.90% of the company’s stock.

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.