Principal Financial Group Inc. Sells 36,389 Shares of Essent Group Ltd. (NYSE:ESNT)

Principal Financial Group Inc. cut its holdings in Essent Group Ltd. (NYSE:ESNT - Free Report) by 3.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,030,215 shares of the financial services provider's stock after selling 36,389 shares during the period. Principal Financial Group Inc. owned 0.99% of Essent Group worth $59,464,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in ESNT. AdvisorNet Financial Inc purchased a new stake in shares of Essent Group during the 1st quarter worth approximately $25,000. Picton Mahoney Asset Management raised its holdings in shares of Essent Group by 68.8% during the 4th quarter. Picton Mahoney Asset Management now owns 584 shares of the financial services provider's stock worth $32,000 after acquiring an additional 238 shares in the last quarter. US Bancorp DE raised its holdings in shares of Essent Group by 53.3% during the 4th quarter. US Bancorp DE now owns 1,125 shares of the financial services provider's stock worth $61,000 after acquiring an additional 391 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of 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 worth $63,000 after acquiring an additional 843 shares in the last quarter. Finally, Fifth Third Bancorp raised its holdings in shares of Essent Group by 20.2% during the 1st 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 in the last quarter. 93.00% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Essent Group

In other news, CFO David B. Weinstock sold 2,500 shares of the 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 of the company's stock, valued at approximately $1,608,788.35. This represents a 8.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Mary Lourdes Gibbons sold 1,999 shares of the stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $60.00, for a total value of $119,940.00. Following the transaction, the senior vice president directly owned 251,023 shares in the company, valued at $15,061,380. The trade was a 0.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,740 shares of company stock valued at $581,386 in the last quarter. 2.90% of the stock is owned by insiders.

Essent Group Stock Performance

Essent Group stock traded up $0.78 during mid-day trading on Friday, hitting $61.90. The company's stock had a trading volume of 339,363 shares, compared to its average volume of 664,711. The company has a 50 day moving average of $58.80 and a 200-day moving average of $57.01. The stock has a market cap of $6.28 billion, a PE ratio of 9.06, a P/E/G ratio of 3.57 and a beta of 0.81. Essent Group Ltd. has a one year low of $51.61 and a one year high of $65.34.

Essent Group (NYSE:ESNT - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $317.56 million for 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%. Essent Group's quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.70 EPS. On average, equities research analysts forecast 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 was paid on Tuesday, June 10th. Shareholders of record on Friday, May 30th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend was Friday, May 30th. Essent Group's dividend payout ratio (DPR) is presently 18.16%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. JPMorgan Chase & Co. raised Essent Group from a "neutral" rating to an "overweight" rating and set a $60.00 price objective on the stock in a report on Tuesday, April 8th. Compass Point set a $69.00 price objective on Essent Group and gave the stock a "buy" rating in a report on Friday, May 23rd. Keefe, Bruyette & Woods reissued an "outperform" rating on shares of Essent Group in a research report on Friday, May 9th. The Goldman Sachs Group reissued a "neutral" rating on shares of Essent Group in a research report on Friday, May 9th. Finally, Royal Bank Of Canada reissued an "outperform" rating on shares of Essent Group in a research report on Friday, May 9th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $63.29.

About Essent Group

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.