111,551 Shares in Essent Group Ltd. (NYSE:ESNT) Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. acquired a new position in shares of Essent Group Ltd. (NYSE:ESNT - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 111,551 shares of the financial services provider's stock, valued at approximately $6,439,000. Edgestream Partners L.P. owned approximately 0.11% of Essent Group at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. AdvisorNet Financial Inc purchased a new stake in Essent Group during the 1st quarter valued at $25,000. Picton Mahoney Asset Management raised its holdings in Essent Group by 68.8% during the 4th quarter. Picton Mahoney Asset Management now owns 584 shares of the financial services provider's stock valued at $32,000 after buying an additional 238 shares during the period. US Bancorp DE raised its holdings in Essent Group by 53.3% during the 4th quarter. US Bancorp DE now owns 1,125 shares of the financial services provider's stock valued at $61,000 after buying an additional 391 shares during the period. UMB Bank n.a. raised its holdings in Essent Group by 330.6% during the 1st quarter. UMB Bank n.a. now owns 1,098 shares of the financial services provider's stock valued at $63,000 after buying an additional 843 shares during the period. Finally, Fifth Third Bancorp raised its holdings in Essent Group by 20.2% during the 1st quarter. Fifth Third Bancorp now owns 1,114 shares of the financial services provider's stock valued at $64,000 after buying an additional 187 shares during the period. 93.00% of the stock is owned by hedge funds and other institutional investors.

Essent Group Stock Performance

ESNT stock traded down $0.33 during midday trading on Friday, reaching $55.76. The company's stock had a trading volume of 327,618 shares, compared to its average volume of 751,977. The firm has a market capitalization of $5.65 billion, a price-to-earnings ratio of 8.16, a PEG ratio of 3.27 and a beta of 0.81. Essent Group Ltd. has a 1 year low of $51.61 and a 1 year high of $65.33. The stock has a fifty day simple moving average of $58.73 and a two-hundred day simple moving average of $57.21.

Essent Group (NYSE:ESNT - Get Free Report) last announced its quarterly earnings results on Friday, May 9th. The financial services provider reported $1.69 EPS for the quarter, beating the consensus estimate of $1.66 by $0.03. The firm had revenue of $317.56 million for the quarter, compared to analyst estimates of $311.18 million. Essent Group had a return on equity of 12.98% and a net margin of 57.29%. The business's revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.70 earnings per share. As a group, analysts forecast 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 was paid on Tuesday, June 10th. Stockholders of record on Friday, May 30th were paid a dividend of $0.31 per share. The ex-dividend date was Friday, May 30th. This represents a $1.24 annualized dividend and a dividend yield of 2.22%. Essent Group's dividend payout ratio is currently 18.16%.

Analysts Set New Price Targets

Several research firms recently weighed in on ESNT. JPMorgan Chase & Co. upgraded Essent Group from a "neutral" rating to an "overweight" rating and set a $60.00 price target on the stock in a report on Tuesday, April 8th. Barclays increased their target price on Essent Group from $58.00 to $59.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. Compass Point set a $69.00 target price on Essent Group and gave the stock a "buy" rating in a research note on Friday, May 23rd. Keefe, Bruyette & Woods lowered Essent Group from an "outperform" rating to a "market perform" rating and increased their target price for the stock from $65.00 to $67.00 in a research note on Monday, July 7th. Finally, Royal Bank Of Canada reiterated an "outperform" rating on shares of Essent Group in a research note on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $63.71.

Insider Activity

In other news, CFO David B. Weinstock sold 2,500 shares of the firm's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $58.79, for a total transaction of $146,975.00. Following the transaction, the chief financial officer owned 27,365 shares in the company, valued at approximately $1,608,788.35. This trade represents a 8.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Douglas J. Pauls sold 3,000 shares of the firm's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $59.80, for a total value of $179,400.00. Following the sale, the director directly owned 27,165 shares in the company, valued at approximately $1,624,467. The trade was a 9.95% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,740 shares of company stock worth $581,386. Company insiders own 2.90% of the company's stock.

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.