Vanguard Group Inc. Has $701.82 Million Stake in Essent Group Ltd. (NYSE:ESNT)

Vanguard Group Inc. cut its stake in Essent Group Ltd. (NYSE:ESNT - Free Report) by 1.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,159,073 shares of the financial services provider's stock after selling 208,028 shares during the period. Vanguard Group Inc. owned approximately 11.71% of Essent Group worth $701,822,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. GSA Capital Partners LLP bought a new stake in Essent Group during the first quarter worth approximately $993,000. Bayforest Capital Ltd boosted its holdings in Essent Group by 280.5% during the first quarter. Bayforest Capital Ltd now owns 10,328 shares of the financial services provider's stock worth $596,000 after buying an additional 7,614 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in Essent Group during the first quarter worth approximately $332,000. QRG Capital Management Inc. boosted its holdings in Essent Group by 16.6% during the first quarter. QRG Capital Management Inc. now owns 8,111 shares of the financial services provider's stock worth $468,000 after buying an additional 1,157 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Essent Group by 66.2% during the first quarter. GAMMA Investing LLC now owns 1,953 shares of the financial services provider's stock worth $113,000 after buying an additional 778 shares in the last quarter. 93.00% of the stock is currently owned by institutional investors.

Essent Group Stock Down 1.6%

ESNT stock traded down $0.98 during midday trading on Friday, reaching $61.84. The company had a trading volume of 561,815 shares, compared to its average volume of 756,030. Essent Group Ltd. has a 1 year low of $51.61 and a 1 year high of $65.33. The company has a current ratio of 1.24, a quick ratio of 1.32 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $6.09 billion, a P/E ratio of 9.03, a PEG ratio of 8.75 and a beta of 0.82. The company has a 50 day moving average of $58.56 and a two-hundred day moving average of $57.45.

Essent Group (NYSE:ESNT - Get Free Report) last released its quarterly earnings results on Friday, August 8th. The financial services provider reported $1.93 earnings per share for the quarter, beating analysts' consensus estimates of $1.68 by $0.25. The business had revenue of $319.14 million for the quarter, compared to the consensus estimate of $317.46 million. Essent Group had a net margin of 56.36% and a return on equity of 12.66%. Essent Group's revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.91 EPS. On average, equities research analysts expect that Essent Group Ltd. will post 6.88 earnings per share for the current fiscal year.

Essent Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 29th will be paid a $0.31 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.24 dividend on an annualized basis and a yield of 2.0%. Essent Group's dividend payout ratio (DPR) is presently 18.10%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ESNT shares. JPMorgan Chase & Co. set a $60.00 target price on shares of Essent Group in a report on Friday, August 8th. Compass Point restated a "buy" rating on shares of Essent Group in a research report on Friday, August 8th. Royal Bank Of Canada restated an "outperform" rating on shares of Essent Group in a research report on Friday, August 8th. Barclays upped their price target on shares of 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, DOWLING & PARTN downgraded shares of Essent Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $63.67.

Insider Activity at Essent Group

In related news, CFO David B. Weinstock sold 2,500 shares of the firm's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $58.79, for a total value of $146,975.00. Following the transaction, the chief financial officer directly owned 27,365 shares in the company, valued at approximately $1,608,788.35. This trade represents a 8.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director William Spiegel sold 6,451 shares of the firm's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $62.74, for a total transaction of $404,735.74. Following the completion of the sale, the director owned 26,252 shares in the company, valued at $1,647,050.48. This represents a 19.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,950 shares of company stock worth $919,651. 2.90% of the stock is owned by insiders.

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.