Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 34,217 Essent Group Ltd. $ESNT

Key Points

• Connor Clark & Lunn Investment Management acquired 34,217 Essent Group shares worth approximately $2.2 million, while institutional investors collectively own 93% of the company.
• Essent reported quarterly EPS of $2.08 on $362.69 million in revenue, with a 51.45% net margin. The company declared a quarterly dividend of $0.35 per share, equivalent to a 2.0% annual yield.
• Analysts remain broadly neutral, with a consensus “Hold” rating and a $71.86 price target. Several firms raised their targets, while company insiders have sold nearly 98,848 shares worth $6.7 million over the past 90 days.

Connor Clark & Lunn Investment Management Ltd. bought a new position in Essent Group Ltd. (NYSE:ESNT - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 34,217 shares of the financial services provider's stock, valued at approximately $2,199,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new position in Essent Group during the third quarter valued at $25,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Essent Group in the 3rd quarter worth about $27,000. Los Angeles Capital Management LLC bought a new stake in shares of Essent Group in the 4th quarter worth about $27,000. Allworth Financial LP purchased a new stake in shares of Essent Group during the 2nd quarter valued at about $31,000. Finally, IFP Advisors Inc raised its position in shares of Essent Group by 97.1% during the 4th quarter. IFP Advisors Inc now owns 676 shares of the financial services provider's stock valued at $44,000 after buying an additional 333 shares in the last quarter. 93.00% of the stock is owned by institutional investors.

Insider Buying and Selling at Essent Group

In other Essent Group news, Director Douglas J. Pauls sold 2,500 shares of the company's stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $69.70, for a total value of $174,250.00. Following the completion of the transaction, the director owned 30,154 shares in the company, valued at approximately $2,101,733.80. This represents a 7.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Mark Casale sold 21,607 shares of the stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $70.07, for a total transaction of $1,514,002.49. Following the sale, the chief executive officer directly owned 2,039,691 shares in the company, valued at approximately $142,921,148.37. The trade was a 1.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 98,848 shares of company stock valued at $6,726,789. 3.60% of the stock is currently owned by insiders.

Essent Group Stock Performance

Shares of ESNT stock opened at $68.99 on Friday. The firm has a market cap of $6.20 billion, a price-to-earnings ratio of 9.62, a PEG ratio of 1.73 and a beta of 0.76. The company's 50 day moving average is $66.10 and its 200 day moving average is $62.20. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.09. Essent Group Ltd. has a 52-week low of $55.34 and a 52-week high of $70.37.

Essent Group (NYSE:ESNT - Get Free Report) last posted its quarterly earnings data on Tuesday, June 30th. The financial services provider reported $2.08 EPS for the quarter. The firm had revenue of $362.69 million during the quarter. Essent Group had a net margin of 51.45% and a return on equity of 11.91%. On average, sell-side analysts anticipate that Essent Group Ltd. will post 7.6 EPS for the current fiscal year.

Essent Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 31st will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.0%. The ex-dividend date is Monday, August 31st. Essent Group's payout ratio is presently 19.53%.

Analysts Set New Price Targets

ESNT has been the subject of several recent analyst reports. Royal Bank Of Canada lifted their price objective on shares of Essent Group from $68.00 to $75.00 and gave the stock a "sector perform" rating in a research note on Monday, August 10th. Weiss Ratings upgraded shares of Essent Group from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, June 23rd. JPMorgan Chase & Co. lifted their price target on shares of Essent Group from $65.00 to $72.00 and gave the stock a "neutral" rating in a research note on Monday, July 13th. Barclays increased their price objective on shares of Essent Group from $62.00 to $65.00 and gave the stock an "equal weight" rating in a research report on Monday, August 10th. Finally, Keefe, Bruyette & Woods boosted their target price on Essent Group from $74.00 to $78.00 and gave the company an "outperform" rating in a research report on Monday, August 10th. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $71.86.

About Essent Group

Essent Group Ltd. NYSE: ESNT is a publicly traded insurance holding company specializing in private mortgage insurance and mortgage reinsurance solutions. Through its primary subsidiary, Essent Guaranty, the company provides credit protection to mortgage lenders, helping mitigate the risk of borrower default on residential mortgage loans. Essent's insurance policies enable lenders to offer low-down-payment programs, supporting homebuyers in achieving homeownership with reduced upfront equity requirements.

Beyond traditional mortgage insurance, Essent offers a suite of risk management and analytics services designed to help financial institutions monitor and manage mortgage portfolios.

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