BNP Paribas Financial Markets Acquires 7,201 Shares of Essent Group Ltd. (NYSE:ESNT)

BNP Paribas Financial Markets raised its position in Essent Group Ltd. (NYSE:ESNT - Free Report) by 19.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,037 shares of the financial services provider's stock after acquiring an additional 7,201 shares during the quarter. BNP Paribas Financial Markets' holdings in Essent Group were worth $2,397,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

ESNT has been the topic of several recent analyst reports. JPMorgan Chase & Co. upgraded shares of Essent Group from a "neutral" rating to an "overweight" rating and set a $60.00 price target on the stock in a report on Tuesday, April 8th. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Essent Group in a research note on Friday, May 9th. Royal Bank of Canada reiterated an "outperform" rating on shares of Essent Group in a research report on Friday, May 9th. Keefe, Bruyette & Woods restated an "outperform" rating on shares of Essent Group in a report on Friday, May 9th. Finally, BTIG Research reaffirmed a "buy" rating on shares of Essent Group in a research report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $61.71.

Essent Group Stock Performance

Shares of Essent Group stock traded down $0.17 during trading on Thursday, hitting $57.40. The company's stock had a trading volume of 51,365 shares, compared to its average volume of 639,831. Essent Group Ltd. has a 52 week low of $51.61 and a 52 week high of $65.34. The company has a market capitalization of $5.82 billion, a PE ratio of 8.39, a P/E/G ratio of 2.70 and a beta of 0.87. The company has a fifty day simple moving average of $56.64 and a two-hundred day simple moving average of $56.32.

Essent Group (NYSE:ESNT - Get Free Report) last announced its quarterly earnings data on Friday, May 9th. The financial services provider reported $1.69 earnings per share for the quarter, topping analysts' consensus estimates of $1.66 by $0.03. Essent Group had a net margin of 58.69% and a return on equity of 13.35%. The business had revenue of $317.56 million for the quarter, compared to analysts' expectations of $311.18 million. During the same quarter in the prior year, the company earned $1.70 earnings per share. The business's revenue was up 6.4% compared to the same quarter last year. As a group, analysts predict that Essent Group Ltd. will post 6.88 EPS for the current year.

Essent Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 30th will be paid a $0.31 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.24 annualized dividend and a dividend yield of 2.16%. Essent Group's payout ratio is currently 18.16%.

Insider Activity at Essent Group

In other Essent Group news, Director Douglas J. Pauls sold 3,000 shares of Essent Group stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $59.80, for a total value of $179,400.00. Following the completion of the transaction, the director now directly owns 27,165 shares of the company's stock, valued at approximately $1,624,467. The trade was a 9.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Mary Lourdes Gibbons sold 1,777 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $60.07, for a total transaction of $106,744.39. Following the completion of the transaction, the senior vice president now owns 253,022 shares in the company, valued at approximately $15,199,031.54. This represents a 0.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,001 shares of company stock valued at $299,591 in the last 90 days. Corporate insiders own 2.90% of the company's stock.

Essent Group 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.