AQR Capital Management LLC Acquires 27,077 Shares of Essent Group Ltd. (NYSE:ESNT)

AQR Capital Management LLC raised its stake in shares of Essent Group Ltd. (NYSE:ESNT - Free Report) by 5.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 516,747 shares of the financial services provider's stock after acquiring an additional 27,077 shares during the period. AQR Capital Management LLC owned about 0.49% of Essent Group worth $28,132,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Mainstream Capital Management LLC bought a new position in shares of Essent Group during the fourth quarter valued at about $25,000. Picton Mahoney Asset Management boosted its stake in shares of Essent Group by 68.8% in the 4th quarter. Picton Mahoney Asset Management now owns 584 shares of the financial services provider's stock worth $32,000 after buying an additional 238 shares during the last quarter. US Bancorp DE grew its holdings in shares of Essent Group by 53.3% in the fourth quarter. US Bancorp DE now owns 1,125 shares of the financial services provider's stock valued at $61,000 after acquiring an additional 391 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Essent Group during the fourth quarter valued at approximately $63,000. Finally, Parkside Financial Bank & Trust lifted its holdings in Essent Group by 8.2% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,363 shares of the financial services provider's stock worth $129,000 after acquiring an additional 180 shares during the period. 93.00% of the stock is owned by hedge funds and other institutional investors.

Essent Group Stock Down 1.5 %

NYSE:ESNT traded down $0.90 during mid-day trading on Friday, hitting $57.82. 245,983 shares of the stock traded hands, compared to its average volume of 635,038. Essent Group Ltd. has a 12-month low of $51.61 and a 12-month high of $65.34. The company has a market cap of $6.00 billion, a PE ratio of 8.45, a price-to-earnings-growth ratio of 2.70 and a beta of 0.87. The business's 50-day moving average price is $55.95 and its 200 day moving average price is $56.40.

Essent Group (NYSE:ESNT - Get Free Report) last released its quarterly earnings results on Friday, May 9th. The financial services provider reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.03. The firm had revenue of $317.56 million for the quarter, compared to analysts' expectations of $311.18 million. Essent Group had a return on equity of 13.35% and a net margin of 58.69%. The company's revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.70 EPS. Analysts anticipate that Essent Group Ltd. will post 6.88 earnings per share for the current fiscal year.

Essent Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, March 14th were paid a dividend of $0.31 per share. The ex-dividend date was Friday, March 14th. This represents a $1.24 annualized dividend and a yield of 2.14%. This is a positive change from Essent Group's previous quarterly dividend of $0.28. Essent Group's payout ratio is 18.13%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ESNT. BTIG Research reiterated a "buy" rating on shares of Essent Group in a research note on Friday. The Goldman Sachs Group reiterated a "neutral" rating on shares of Essent Group in a research note on Friday. Keefe, Bruyette & Woods restated an "outperform" rating on shares of Essent Group in a research note on Friday. Royal Bank of Canada reiterated an "outperform" rating on shares of Essent Group in a research note on Friday. Finally, JPMorgan Chase & Co. raised Essent Group from a "neutral" rating to an "overweight" rating and set a $60.00 target price for the company in a research report on Tuesday, April 8th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $61.71.

Essent Group Company Profile

Essent Group Ltd., through its subsidiaries, provides private mortgage insurance and reinsurance for mortgages secured by residential properties located in the United States. Its mortgage insurance products include primary, pool, and master policy. The company also provides information technology maintenance and development services; customer support-related services; underwriting consulting; and contract underwriting services, as well as risk management products and title insurance and settlement services.