Cooke & Bieler LP Sells 129,197 Shares of Essent Group Ltd. (NYSE:ESNT)

Cooke & Bieler LP decreased its position in Essent Group Ltd. (NYSE:ESNT - Free Report) by 5.8% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 2,099,728 shares of the financial services provider's stock after selling 129,197 shares during the period. Cooke & Bieler LP owned about 2.02% of Essent Group worth $121,196,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Fifth Third Bancorp lifted its stake in Essent Group by 20.2% in the 1st quarter. Fifth Third Bancorp now owns 1,114 shares of the financial services provider's stock valued at $64,000 after acquiring an additional 187 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of Essent Group by 0.5% during the 1st quarter. State of Alaska Department of Revenue now owns 39,301 shares of the financial services provider's stock worth $2,268,000 after purchasing an additional 190 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its position in shares of Essent Group by 3.6% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 6,988 shares of the financial services provider's stock worth $380,000 after purchasing an additional 242 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Essent Group by 0.6% during the 4th quarter. Franklin Resources Inc. now owns 47,469 shares of the financial services provider's stock worth $2,584,000 after purchasing an additional 287 shares during the last quarter. Finally, Forum Financial Management LP increased its position in shares of Essent Group by 8.1% during the 4th quarter. Forum Financial Management LP now owns 3,912 shares of the financial services provider's stock worth $213,000 after purchasing an additional 294 shares during the last quarter. Institutional investors own 93.00% of the company's stock.

Insiders Place Their Bets

In other news, Director Douglas J. Pauls sold 3,000 shares of the stock in a transaction dated 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 sale, the director owned 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 SEC, which is accessible through the SEC website. Also, SVP Mary Lourdes Gibbons sold 1,999 shares of the stock in a transaction dated 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 sale, the senior vice president directly owned 251,023 shares of the company's stock, valued at approximately $15,061,380. The trade was a 0.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,740 shares of company stock valued at $581,386 in the last 90 days. Corporate insiders own 2.90% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Essent Group in a research report on Friday, May 9th. Compass Point set a $69.00 target price on Essent Group and gave the stock a "buy" rating in a report on Friday, May 23rd. JPMorgan Chase & Co. raised Essent Group from a "neutral" rating to an "overweight" rating and set a $60.00 target price on the stock in a report on Tuesday, April 8th. Barclays boosted their target price on Essent Group from $58.00 to $59.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 8th. Finally, BTIG Research reaffirmed a "buy" rating on shares of Essent Group in a report 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 company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $63.71.

Essent Group Stock Down 0.7%

Shares of NYSE:ESNT traded down $0.39 during trading on Friday, reaching $55.69. 659,486 shares of the company traded hands, compared to its average volume of 675,879. The company's 50 day moving average is $58.73 and its two-hundred day moving average is $57.21. The firm has a market capitalization of $5.65 billion, a PE ratio of 8.15, a PEG ratio of 3.27 and a beta of 0.81. 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 earnings results on Friday, May 9th. The financial services provider reported $1.69 earnings per share for the quarter, beating analysts' consensus estimates of $1.66 by $0.03. The firm had revenue of $317.56 million during the quarter, compared to the consensus estimate of $311.18 million. Essent Group had a return on equity of 12.98% and a net margin of 57.29%. The company's revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.70 EPS. As a group, research analysts anticipate that Essent Group Ltd. will post 6.88 EPS for the current year.

Essent Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 30th were issued a $0.31 dividend. The ex-dividend date was Friday, May 30th. This represents a $1.24 dividend on an annualized basis and a yield of 2.23%. Essent Group's payout ratio is presently 18.16%.

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.