Deutsche Bank AG Invests $43.07 Million in Essent Group Ltd. $ESNT

Key Points

• Deutsche Bank acquired 670,014 Essent Group shares worth approximately $43.1 million, giving it a 0.73% stake. Institutional investors collectively own 93% of the company.
• Analysts raised several price targets, ranging from $65 to $80, but the overall consensus remains “Hold” with an average target of $71.86.
• Essent reported quarterly earnings of $2.08 per share on $362.7 million in revenue and declared a $0.35 quarterly dividend, equivalent to a 2.1% yield. Shares opened at $68.10, near their 12-month high.

Deutsche Bank AG purchased a new stake in shares of Essent Group Ltd. (NYSE:ESNT - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 670,014 shares of the financial services provider's stock, valued at approximately $43,068,000. Deutsche Bank AG owned 0.73% of Essent Group as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ESNT. Caitong International Asset Management Co. Ltd bought a new position in Essent Group in the third quarter worth $25,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Essent Group in the 3rd quarter valued at $27,000. Los Angeles Capital Management LLC bought a new position in shares of Essent Group during the 4th quarter worth about $27,000. IFP Advisors Inc boosted 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 acquiring an additional 333 shares in the last quarter. Finally, Versant Capital Management Inc increased its stake in Essent Group by 790.6% in the second quarter. Versant Capital Management Inc now owns 757 shares of the financial services provider's stock valued at $49,000 after acquiring an additional 672 shares during the period. Institutional investors own 93.00% of the company's stock.

Insider Buying and Selling

In other Essent Group news, SVP Vijay Bhasin sold 14,175 shares of the company's stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $70.00, for a total transaction of $992,250.00. Following the transaction, the senior vice president owned 184,274 shares of the company's stock, valued at approximately $12,899,180. This represents a 7.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David B. Weinstock sold 5,500 shares of Essent Group stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $63.51, for a total value of $349,305.00. Following the completion of the sale, the chief financial officer owned 35,494 shares of the company's stock, valued at approximately $2,254,223.94. The trade was a 13.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 96,348 shares of company stock worth $6,552,539 in the last quarter. Insiders own 3.60% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on ESNT shares. Royal Bank Of Canada boosted their price target on Essent Group from $68.00 to $75.00 and gave the company a "sector perform" rating in a research note on Monday, August 10th. Roth Capital lifted their price objective on Essent Group from $65.00 to $80.00 and gave the company a "buy" rating in a report on Monday, August 10th. Barclays boosted their target price on shares of Essent Group from $62.00 to $65.00 and gave the company an "equal weight" rating in a research note on Monday, August 10th. Keefe, Bruyette & Woods increased their target price on shares of Essent Group from $74.00 to $78.00 and gave the stock an "outperform" rating in a research report on Monday, August 10th. Finally, Weiss Ratings raised shares of Essent Group from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, June 23rd. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $71.86.

Essent Group Stock Down 0.6%

Shares of NYSE ESNT opened at $68.10 on Friday. Essent Group Ltd. has a 12-month low of $55.34 and a 12-month high of $70.37. The firm's 50-day simple moving average is $65.06 and its 200 day simple moving average is $62.04. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.09. The company has a market cap of $6.12 billion, a price-to-earnings ratio of 9.50, a price-to-earnings-growth ratio of 1.72 and a beta of 0.76.

Essent Group (NYSE:ESNT - Get Free Report) last announced its earnings results on Tuesday, June 30th. The financial services provider reported $2.08 earnings per share for the quarter. Essent Group had a net margin of 51.45% and a return on equity of 11.91%. The company had revenue of $362.69 million during the quarter. On average, research analysts expect that Essent Group Ltd. will post 7.6 earnings per share for the current fiscal year.

Essent Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 31st will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.1%. The ex-dividend date is Monday, August 31st. Essent Group's payout ratio is 19.53%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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