Epoch Investment Partners Inc. Sells 17,930 Shares of Essent Group Ltd. $ESNT

Key Points

• Epoch Investment Partners Inc. has reduced its holdings in Essent Group Ltd. by 40.7%, now owning 26,162 shares valued at approximately $1.51 million.
• Several large investors have adjusted their positions in Essent Group, with Victory Capital Management Inc. dramatically increasing its stake by 1,272.6% in the first quarter.
• Essent Group reported strong earnings, with $1.93 EPS for the quarter, surpassing analysts' expectations of $1.68 EPS.

Epoch Investment Partners Inc. lowered its position in shares of Essent Group Ltd. (NYSE:ESNT - Free Report) by 40.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,162 shares of the financial services provider's stock after selling 17,930 shares during the period. Epoch Investment Partners Inc.'s holdings in Essent Group were worth $1,510,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ESNT. AdvisorNet Financial Inc bought a new position in Essent Group during the 1st quarter valued at approximately $25,000. Summit Securities Group LLC purchased a new position in shares of Essent Group during the first quarter valued at approximately $46,000. UMB Bank n.a. raised its holdings in shares of Essent Group by 330.6% during the first quarter. UMB Bank n.a. now owns 1,098 shares of the financial services provider's stock valued at $63,000 after acquiring an additional 843 shares in the last quarter. Fifth Third Bancorp lifted its stake in Essent Group by 20.2% in the first quarter. Fifth Third Bancorp now owns 1,114 shares of the financial services provider's stock worth $64,000 after acquiring an additional 187 shares during the period. Finally, State of Wyoming lifted its stake in Essent Group by 102.0% in the fourth quarter. State of Wyoming now owns 1,687 shares of the financial services provider's stock worth $92,000 after acquiring an additional 852 shares during the period. Hedge funds and other institutional investors own 93.00% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on ESNT. BTIG Research reiterated a "buy" rating on shares of Essent Group in a research report on Friday, May 9th. JPMorgan Chase & Co. set a $60.00 target price on Essent Group in a report on Friday, August 8th. Keefe, Bruyette & Woods cut Essent Group from an "outperform" rating to a "market perform" rating in a research note on Friday, August 8th. Barclays lifted their price target on Essent Group from $58.00 to $59.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 8th. Finally, The Goldman Sachs Group set a $60.00 price objective on Essent Group and gave the stock a "neutral" rating in a report on Friday, August 8th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $63.67.

Essent Group Stock Down 0.1%

Essent Group stock opened at $62.65 on Wednesday. Essent Group Ltd. has a 12 month low of $51.61 and a 12 month high of $65.33. The stock has a fifty day simple moving average of $59.53 and a two-hundred day simple moving average of $57.85. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.09. The firm has a market cap of $6.17 billion, a price-to-earnings ratio of 9.15, a PEG ratio of 2.72 and a beta of 0.86.

Essent Group (NYSE:ESNT - Get Free Report) last released its quarterly earnings data on Friday, August 8th. The financial services provider reported $1.93 EPS for the quarter, topping the consensus estimate of $1.68 by $0.25. The company had revenue of $319.14 million during the quarter, compared to the consensus estimate of $317.46 million. Essent Group had a return on equity of 12.66% and a net margin of 56.36%.Essent Group's revenue for the quarter was up 2.0% on a year-over-year basis. During the same period last year, the company earned $1.91 EPS. Equities analysts predict 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 will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 29th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, August 29th. Essent Group's dividend payout ratio (DPR) is 18.10%.

Insiders Place Their Bets

In other Essent Group news, SVP Mary Lourdes Gibbons sold 3,760 shares of the business's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $62.00, for a total transaction of $233,120.00. Following the completion of the sale, the senior vice president directly owned 247,023 shares in the company, valued at $15,315,426. The trade was a 1.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO David B. Weinstock sold 2,500 shares of the company's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $58.79, for a total transaction of $146,975.00. Following the sale, the chief financial officer directly owned 27,365 shares of the company's stock, valued at $1,608,788.35. The trade was a 8.37% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,950 shares of company stock valued at $919,651. Insiders own 3.40% of the company's stock.

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.