Hsbc Holdings PLC Grows Stock Holdings in Essent Group Ltd. $ESNT

Key Points

• Hsbc Holdings PLC increased its stake in Essent Group Ltd. by 47.6%, owning approximately 168,214 shares valued at about $9.69 million following a purchase of an additional 54,284 shares.
• The stock of Essent Group has a current market cap of $6.30 billion and reported earnings of $1.93 per share for the latest quarter, exceeding analysts' estimates.
• Essent Group also announced a quarterly dividend of $0.31, set to be paid on September 10th, with a yield of 1.9% and a payout ratio of 18.10%.

Hsbc Holdings PLC boosted its position in Essent Group Ltd. (NYSE:ESNT - Free Report) by 47.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 168,214 shares of the financial services provider's stock after acquiring an additional 54,284 shares during the period. Hsbc Holdings PLC owned 0.16% of Essent Group worth $9,692,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. GSA Capital Partners LLP bought a new stake in Essent Group in the 1st quarter worth $993,000. Bayforest Capital Ltd grew its holdings in Essent Group by 280.5% in the 1st quarter. Bayforest Capital Ltd now owns 10,328 shares of the financial services provider's stock worth $596,000 after acquiring an additional 7,614 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in Essent Group in the 1st quarter worth $332,000. QRG Capital Management Inc. grew its holdings in Essent Group by 16.6% in the 1st quarter. QRG Capital Management Inc. now owns 8,111 shares of the financial services provider's stock worth $468,000 after acquiring an additional 1,157 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Essent Group by 66.2% in the 1st quarter. GAMMA Investing LLC now owns 1,953 shares of the financial services provider's stock worth $113,000 after acquiring an additional 778 shares during the last quarter. Institutional investors own 93.00% of the company's stock.

Essent Group Stock Down 1.1%

NYSE:ESNT traded down $0.70 during mid-day trading on Thursday, hitting $62.91. 438,618 shares of the company's stock were exchanged, compared to its average volume of 739,227. Essent Group Ltd. has a one year low of $51.61 and a one year high of $65.33. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.24 and a quick ratio of 1.24. The business has a fifty day moving average price of $59.32 and a 200 day moving average price of $57.70. The company has a market cap of $6.20 billion, a PE ratio of 9.18, a P/E/G ratio of 2.73 and a beta of 0.82.

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

Insiders Place Their Bets

In other Essent Group news, SVP Mary Lourdes Gibbons sold 3,760 shares of Essent Group stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $62.00, for a total value of $233,120.00. Following the completion of the transaction, the senior vice president directly owned 247,023 shares of the company's stock, valued at approximately $15,315,426. The trade was a 1.50% 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, Director William Spiegel sold 6,451 shares of Essent Group stock in a transaction dated 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 transaction, the director directly owned 26,252 shares of the company's stock, valued at $1,647,050.48. This trade represents a 19.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,950 shares of company stock valued at $919,651. Insiders own 2.90% of the company's stock.

Analysts Set New Price Targets

ESNT has been the topic of a number of recent analyst reports. Royal Bank Of Canada reissued an "outperform" rating on shares of Essent Group in a report on Friday, August 8th. Keefe, Bruyette & Woods lowered shares of Essent Group from an "outperform" rating to a "market perform" rating in a research note on Friday, August 8th. Compass Point reaffirmed a "buy" rating on shares of Essent Group in a research note on Friday, August 8th. DOWLING & PARTN lowered shares of Essent Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 12th. Finally, Barclays lifted their target price on shares of Essent Group from $58.00 to $59.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 8th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Essent Group has an average rating of "Moderate Buy" and an average price target of $63.67.

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.