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Entropy Technologies LP Increases Stake in Essent Group Ltd. (NYSE:ESNT)

Essent Group logo with Finance background

Key Points

  • Entropy Technologies LP has significantly increased its stake in Essent Group Ltd. by 326.1%, owning 34,984 shares valued at approximately $2,019,000.
  • Insider trading activity includes sales by Director Douglas J. Pauls and SVP Mary Lourdes Gibbons, with total sales of 7,739 shares valued at $461,195 over the last ninety days.
  • Equities research analysts maintain a positive outlook for Essent Group, with a consensus rating of "Moderate Buy" and an average target price of $63.67.
  • Want stock alerts on Essent Group? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Entropy Technologies LP increased its position in shares of Essent Group Ltd. (NYSE:ESNT - Free Report) by 326.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,984 shares of the financial services provider's stock after buying an additional 26,774 shares during the period. Entropy Technologies LP's holdings in Essent Group were worth $2,019,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Covestor Ltd grew its stake in Essent Group by 32.9% in the first quarter. Covestor Ltd now owns 1,717 shares of the financial services provider's stock valued at $99,000 after purchasing an additional 425 shares during the last quarter. Citigroup Inc. grew its stake in Essent Group by 1.1% in the first quarter. Citigroup Inc. now owns 115,461 shares of the financial services provider's stock valued at $6,664,000 after purchasing an additional 1,271 shares during the last quarter. Headlands Technologies LLC purchased a new position in Essent Group in the first quarter valued at about $99,000. Ontario Teachers Pension Plan Board purchased a new position in Essent Group in the first quarter valued at about $750,000. Finally, Deutsche Bank AG grew its stake in Essent Group by 5.6% in the first quarter. Deutsche Bank AG now owns 349,677 shares of the financial services provider's stock valued at $20,183,000 after purchasing an additional 18,480 shares during the last quarter. Hedge funds and other institutional investors own 93.00% of the company's stock.

Insider Buying and Selling at Essent Group

In other Essent Group news, Director Douglas J. Pauls sold 3,000 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $59.80, for a total value of $179,400.00. Following the completion of the transaction, the director directly owned 27,165 shares of the company's stock, valued at approximately $1,624,467. The trade was a 9.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Mary Lourdes Gibbons sold 1,999 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $60.00, for a total value of $119,940.00. Following the completion of the transaction, the senior vice president directly owned 251,023 shares of the company's stock, valued at $15,061,380. The trade was a 0.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,739 shares of company stock valued at $461,195. 3.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. BTIG Research restated a "buy" rating on shares of Essent Group in a research note on Friday, May 9th. Royal Bank Of Canada restated an "outperform" rating on shares of Essent Group in a research note on Friday. Compass Point restated a "buy" rating on shares of Essent Group in a research note on Friday. Keefe, Bruyette & Woods lowered Essent Group from an "outperform" rating to a "market perform" rating in a research note on Friday. Finally, JPMorgan Chase & Co. set a $60.00 price target on Essent Group in a research note on Friday. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $63.67.

View Our Latest Report on ESNT

Essent Group Trading Up 5.6%

Essent Group stock opened at $60.23 on Monday. The company has a quick ratio of 1.32, a current ratio of 1.24 and a debt-to-equity ratio of 0.09. Essent Group Ltd. has a 52 week low of $51.61 and a 52 week high of $65.33. The company has a market capitalization of $6.11 billion, a price-to-earnings ratio of 8.79, a price-to-earnings-growth ratio of 8.80 and a beta of 0.82. The stock has a 50-day moving average price of $58.18 and a 200 day moving average price of $57.32.

Essent Group (NYSE:ESNT - Get Free Report) last released its earnings results on Friday, August 8th. The financial services provider reported $1.93 EPS for the quarter, topping analysts' consensus estimates of $1.68 by $0.25. Essent Group had a return on equity of 12.66% and a net margin of 56.36%. The firm had revenue of $319.14 million during the quarter, compared to the consensus estimate of $317.46 million. During the same quarter in the previous year, the company posted $1.91 earnings per share. The company's revenue was up 2.0% compared to the same quarter last year. Sell-side analysts anticipate that Essent Group Ltd. will post 6.88 EPS for the current year.

Essent Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 29th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 2.1%. Essent Group's payout ratio is presently 18.10%.

About Essent Group

(Free Report)

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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Want to see what other hedge funds are holding ESNT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Essent Group Ltd. (NYSE:ESNT - Free Report).

Institutional Ownership by Quarter for Essent Group (NYSE:ESNT)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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