Vest Financial LLC Raises Position in Essent Group Ltd. (NYSE:ESNT)

Vest Financial LLC lifted its holdings in Essent Group Ltd. (NYSE:ESNT - Free Report) by 22.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,907 shares of the financial services provider's stock after purchasing an additional 10,289 shares during the quarter. Vest Financial LLC owned 0.05% of Essent Group worth $3,227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Rhumbline Advisers increased its position in Essent Group by 5.5% during the first quarter. Rhumbline Advisers now owns 369,249 shares of the financial services provider's stock valued at $21,313,000 after acquiring an additional 19,271 shares during the last quarter. Summit Global Investments increased its position in Essent Group by 15.1% during the first quarter. Summit Global Investments now owns 22,944 shares of the financial services provider's stock valued at $1,324,000 after acquiring an additional 3,018 shares during the last quarter. GAMMA Investing LLC increased its position in Essent Group by 9,493.8% during the first quarter. GAMMA Investing LLC now owns 112,727 shares of the financial services provider's stock valued at $6,507,000 after acquiring an additional 111,552 shares during the last quarter. AdvisorNet Financial Inc purchased a new stake in Essent Group during the first quarter valued at $25,000. Finally, 111 Capital purchased a new stake in Essent Group during the fourth quarter valued at $557,000. Hedge funds and other institutional investors own 93.00% of the company's stock.

Insider Activity at Essent Group

In related news, Director Douglas J. Pauls sold 3,000 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $59.80, for a total transaction of $179,400.00. Following the completion of the transaction, the director now directly owns 27,165 shares of the company's stock, valued at approximately $1,624,467. This represents a 9.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Mary Lourdes Gibbons sold 1,777 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $60.07, for a total value of $106,744.39. Following the transaction, the senior vice president now directly owns 253,022 shares of the company's stock, valued at approximately $15,199,031.54. The trade was a 0.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,001 shares of company stock valued at $299,591. Insiders own 2.90% of the company's stock.

Essent Group Price Performance

Shares of NYSE ESNT traded up $0.72 during mid-day trading on Friday, reaching $57.82. The company's stock had a trading volume of 346,639 shares, compared to its average volume of 647,065. The firm has a market capitalization of $5.86 billion, a PE ratio of 8.45, a P/E/G ratio of 2.70 and a beta of 0.81. The stock has a fifty day moving average of $56.89 and a two-hundred day moving average of $56.50. Essent Group Ltd. has a 52 week low of $51.61 and a 52 week high of $65.34.

Essent Group (NYSE:ESNT - Get Free Report) last released its quarterly earnings data on Friday, May 9th. The financial services provider reported $1.69 earnings per share for the quarter, topping analysts' consensus estimates of $1.66 by $0.03. The firm had revenue of $317.56 million during the quarter, compared to analyst estimates of $311.18 million. Essent Group had a return on equity of 13.35% and a net margin of 58.69%. The business's quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.70 earnings per share. Analysts anticipate that Essent Group Ltd. will post 6.88 EPS for the current fiscal year.

Essent Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 30th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Friday, May 30th. Essent Group's dividend payout ratio (DPR) is 18.16%.

Analysts Set New Price Targets

A number of research firms recently commented on ESNT. The Goldman Sachs Group reiterated a "neutral" rating on shares of Essent Group in a research report on Friday, May 9th. BTIG Research reiterated a "buy" rating on shares of Essent Group in a research report on Friday, May 9th. Compass Point set a $69.00 price target on Essent Group and gave the company a "buy" rating in a report on Friday, May 23rd. Keefe, Bruyette & Woods reissued an "outperform" rating on shares of Essent Group in a report on Friday, May 9th. Finally, JPMorgan Chase & Co. raised Essent Group from a "neutral" rating to an "overweight" rating and set a $60.00 price target for the company in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $63.29.

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.