Canada Pension Plan Investment Board Invests $4.03 Million in Essent Group Ltd. (NYSE:ESNT)

Canada Pension Plan Investment Board bought a new stake in Essent Group Ltd. (NYSE:ESNT - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 74,000 shares of the financial services provider's stock, valued at approximately $4,029,000. Canada Pension Plan Investment Board owned 0.07% of Essent Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Mainstream Capital Management LLC bought a new stake in Essent Group in the fourth quarter valued at $25,000. Picton Mahoney Asset Management grew its position in Essent Group by 68.8% in the fourth quarter. Picton Mahoney Asset Management now owns 584 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 238 shares during the period. US Bancorp DE grew its position in 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 during the period. R Squared Ltd bought a new stake in Essent Group in the fourth quarter valued at $63,000. Finally, Parkside Financial Bank & Trust grew its position in Essent Group by 8.2% in 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 during the period. 93.00% of the stock is owned by institutional investors and hedge funds.

Essent Group Trading Up 0.8 %

Shares of ESNT traded up $0.44 during trading hours on Monday, hitting $55.98. 515,085 shares of the stock traded hands, compared to its average volume of 638,901. Essent Group Ltd. has a 1-year low of $51.61 and a 1-year high of $65.34. The business has a fifty day moving average of $55.79 and a 200-day moving average of $56.63. The firm has a market capitalization of $5.81 billion, a PE ratio of 8.18, a price-to-earnings-growth ratio of 2.70 and a beta of 0.80.

Essent Group (NYSE:ESNT - Get Free Report) last released its earnings results on Friday, February 14th. The financial services provider reported $1.58 earnings per share for the quarter, missing the consensus estimate of $1.67 by ($0.09). Essent Group had a net margin of 58.69% and a return on equity of 13.35%. The company had revenue of $315.00 million during the quarter, compared to analyst estimates of $313.88 million. During the same period in the previous year, the company posted $1.64 EPS. The company's quarterly revenue was up 6.0% compared to the same quarter last year. As a group, equities research analysts expect that Essent Group Ltd. will post 6.88 earnings per share for the current fiscal year.

Essent Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Friday, March 14th were paid a $0.31 dividend. This is a positive change from Essent Group's previous quarterly dividend of $0.28. The ex-dividend date was Friday, March 14th. This represents a $1.24 annualized dividend and a yield of 2.22%. Essent Group's dividend payout ratio is presently 18.13%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ESNT. Keefe, Bruyette & Woods decreased their target price on Essent Group from $71.00 to $65.00 and set an "outperform" rating on the stock in a report on Tuesday, April 8th. Barclays cut Essent Group from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $69.00 to $58.00 in a report on Monday, January 6th. Royal Bank of Canada restated an "outperform" rating and set a $67.00 target price on shares of Essent Group in a report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. upgraded Essent Group from a "neutral" rating to an "overweight" rating and set a $60.00 target price on the stock in a report on Tuesday, April 8th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $61.71.

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.