Essent Group Ltd. (NYSE:ESNT) Shares Purchased by Bank of America Corp DE

Bank of America Corp DE grew its position in Essent Group Ltd. (NYSE:ESNT - Free Report) by 64.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 721,457 shares of the financial services provider's stock after acquiring an additional 282,895 shares during the quarter. Bank of America Corp DE owned 0.68% of Essent Group worth $39,276,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Essent Group during the 4th quarter valued at approximately $69,364,000. Cooke & Bieler LP raised its stake in shares of Essent Group by 45.9% in the fourth quarter. Cooke & Bieler LP now owns 2,228,925 shares of the financial services provider's stock valued at $121,343,000 after acquiring an additional 700,730 shares during the period. First Trust Advisors LP raised its stake in shares of Essent Group by 43.2% in the fourth quarter. First Trust Advisors LP now owns 1,709,029 shares of the financial services provider's stock valued at $93,040,000 after acquiring an additional 515,171 shares during the period. Walleye Capital LLC grew its holdings in Essent Group by 144.8% during the 4th quarter. Walleye Capital LLC now owns 846,169 shares of the financial services provider's stock valued at $46,065,000 after purchasing an additional 500,494 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in Essent Group by 29.3% in the 4th quarter. Ameriprise Financial Inc. now owns 1,966,171 shares of the financial services provider's stock worth $107,038,000 after purchasing an additional 445,012 shares during the period. Institutional investors own 93.00% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Essent Group

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

Essent Group Stock Down 1.9%

ESNT stock traded down $1.10 during trading on Wednesday, hitting $58.03. 52,284 shares of the company's stock traded hands, compared to its average volume of 637,937. The firm has a market capitalization of $5.88 billion, a P/E ratio of 8.50, a PEG ratio of 2.70 and a beta of 0.87. 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 simple moving average of $56.58 and a two-hundred day simple moving average of $56.31.

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

Essent Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 30th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Friday, May 30th. Essent Group's dividend payout ratio is currently 18.16%.

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.