Pallas Capital Advisors LLC Makes New $314,000 Investment in Essent Group Ltd. $ESNT

Key Points

• Pallas Capital Advisors LLC has acquired 5,167 shares of Essent Group Ltd., valued at approximately $314,000, marking their new position in the company during the 2nd quarter.
• Essent Group recently reported an earnings per share (EPS) of $1.93 for the last quarter, exceeding the consensus estimate of $1.68, with revenues of $319.14 million.
• The firm also announced a quarterly dividend of $0.31 per share, reflecting an annual yield of 1.9% and a dividend payout ratio of 18.10%.

Pallas Capital Advisors LLC acquired a new stake in Essent Group Ltd. (NYSE:ESNT - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 5,167 shares of the financial services provider's stock, valued at approximately $314,000.

Other institutional investors have also added to or reduced their stakes in the company. GSA Capital Partners LLP bought a new stake in Essent Group in the 1st quarter valued at $993,000. Bayforest Capital Ltd lifted its position in Essent Group by 280.5% in the 1st quarter. Bayforest Capital Ltd now owns 10,328 shares of the financial services provider's stock valued at $596,000 after acquiring an additional 7,614 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in Essent Group in the 1st quarter valued at $332,000. Jane Street Group LLC lifted its position in Essent Group by 760.5% in the 1st quarter. Jane Street Group LLC now owns 367,460 shares of the financial services provider's stock valued at $21,210,000 after acquiring an additional 324,757 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its position in Essent Group by 16.6% in the 1st quarter. QRG Capital Management Inc. now owns 8,111 shares of the financial services provider's stock valued at $468,000 after acquiring an additional 1,157 shares in the last quarter. 93.00% of the stock is owned by institutional investors.

Insider Activity at Essent Group

In related news, SVP Mary Lourdes Gibbons sold 4,000 shares of the company's stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $65.00, for a total value of $260,000.00. Following the transaction, the senior vice president owned 243,023 shares in the company, valued at approximately $15,796,495. This represents a 1.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Vijay Bhasin sold 11,479 shares of the company's stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $65.00, for a total transaction of $746,135.00. Following the completion of the transaction, the senior vice president owned 196,922 shares in the company, valued at approximately $12,799,930. This trade represents a 5.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,430 shares of company stock worth $1,817,196 in the last quarter. Corporate insiders own 3.40% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on ESNT shares. DOWLING & PARTN cut shares of Essent Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 12th. Royal Bank Of Canada reissued an "outperform" rating on shares of Essent Group in a research report on Friday, August 8th. The Goldman Sachs Group set a $60.00 price target on shares of Essent Group and gave the stock a "neutral" rating in a research report on Friday, August 8th. Compass Point reissued a "buy" rating on shares of Essent Group in a research report on Friday, August 8th. Finally, Barclays boosted their price target on shares of Essent Group from $58.00 to $59.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Essent Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $63.67.

Essent Group Stock Performance

Shares of ESNT stock traded down $0.54 on Monday, reaching $64.74. The stock had a trading volume of 961,499 shares, compared to its average volume of 604,405. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.09. The firm's 50-day moving average is $60.68 and its two-hundred day moving average is $58.58. The firm has a market capitalization of $6.38 billion, a price-to-earnings ratio of 9.45, a P/E/G ratio of 2.83 and a beta of 0.85. Essent Group Ltd. has a 12 month low of $51.61 and a 12 month high of $65.90.

Essent Group (NYSE:ESNT - Get Free Report) last issued its earnings results on Friday, August 8th. The financial services provider reported $1.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.68 by $0.25. Essent Group had a net margin of 56.36% and a return on equity of 12.66%. The company had revenue of $319.14 million for the quarter, compared to analysts' expectations of $317.46 million. During the same period in the prior year, the firm earned $1.91 EPS. Essent Group's quarterly revenue was up 2.0% compared to the same quarter last year. On average, research analysts expect that Essent Group Ltd. will post 6.88 EPS for the current fiscal year.

Essent Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 29th were paid a $0.31 dividend. The ex-dividend date was Friday, August 29th. This represents a $1.24 dividend on an annualized basis and a yield of 1.9%. Essent Group's dividend payout ratio is 18.10%.

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.