Allspring Global Investments Holdings LLC Has $12.86 Million Stock Holdings in Essent Group Ltd. (NYSE:ESNT)

Allspring Global Investments Holdings LLC trimmed its stake in shares of Essent Group Ltd. (NYSE:ESNT - Free Report) by 11.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 220,721 shares of the financial services provider's stock after selling 29,636 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.21% of Essent Group worth $12,855,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ESNT. Illinois Municipal Retirement Fund increased its position in Essent Group by 22.8% in the 1st quarter. Illinois Municipal Retirement Fund now owns 43,407 shares of the financial services provider's stock valued at $2,505,000 after acquiring an additional 8,047 shares during the period. Diversified Trust Co increased its position in Essent Group by 5.6% in the 1st quarter. Diversified Trust Co now owns 15,645 shares of the financial services provider's stock valued at $903,000 after acquiring an additional 827 shares during the period. HBK Sorce Advisory LLC acquired a new position in Essent Group in the 1st quarter valued at approximately $229,000. Bessemer Group Inc. increased its position in Essent Group by 4.2% in the 1st quarter. Bessemer Group Inc. now owns 347,164 shares of the financial services provider's stock valued at $20,037,000 after acquiring an additional 14,016 shares during the period. Finally, State of Alaska Department of Revenue increased its position in Essent Group by 0.5% in the 1st quarter. State of Alaska Department of Revenue now owns 39,301 shares of the financial services provider's stock valued at $2,268,000 after acquiring an additional 190 shares during the period. 93.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Mary Lourdes Gibbons sold 1,999 shares of the stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $60.00, for a total transaction of $119,940.00. Following the transaction, the senior vice president directly owned 251,023 shares of the company's stock, valued at $15,061,380. This represents a 0.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Douglas J. Pauls sold 3,000 shares of the firm's stock in a transaction 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 completion of the transaction, the director directly owned 27,165 shares in the company, valued at $1,624,467. This trade represents a 9.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,740 shares of company stock valued at $581,386 over the last ninety days. 2.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ESNT. Royal Bank Of Canada restated an "outperform" rating on shares of Essent Group in a research report on Friday, May 9th. Compass Point set a $69.00 price objective on shares of Essent Group and gave the company a "buy" rating in a research note on Friday, May 23rd. BTIG Research reaffirmed a "buy" rating on shares of Essent Group in a research note on Friday, May 9th. JPMorgan Chase & Co. raised shares of Essent Group from a "neutral" rating to an "overweight" rating and set a $60.00 price objective on the stock in a research note on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods reaffirmed an "outperform" rating on shares of Essent Group in a research note on Friday, May 9th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $63.29.

Essent Group Stock Up 1.3%

Shares of NYSE ESNT opened at $61.90 on Friday. The firm has a market cap of $6.28 billion, a PE ratio of 9.06, a P/E/G ratio of 3.53 and a beta of 0.81. Essent Group Ltd. has a 12-month low of $51.61 and a 12-month high of $65.34. The company's fifty day simple moving average is $58.67 and its 200 day simple moving average is $56.93.

Essent Group (NYSE:ESNT - Get Free Report) last issued its earnings results on Friday, May 9th. The financial services provider reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.03. The business had revenue of $317.56 million for the quarter, compared to analyst estimates of $311.18 million. Essent Group had a net margin of 57.29% and a return on equity of 12.98%. Essent Group's revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.70 earnings per share. On average, equities analysts predict that Essent Group Ltd. will post 6.88 earnings per share for the current year.

Essent Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 30th were paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 2.00%. The ex-dividend date was Friday, May 30th. Essent Group's dividend payout ratio is presently 18.16%.

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.

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