22,044 Shares in Essent Group Ltd. $ESNT Acquired by Ieq Capital LLC

Key Points

• Ieq Capital LLC has purchased approximately 22,044 shares of Essent Group Ltd., valued at around $1,272,000, indicating growing institutional interest in the company.
• Essent Group's stock has received a mix of ratings from analysts, with a consensus rating of "Moderate Buy" and an average price target of $63.67.
• The company recently reported earnings of $1.93 per share for the last quarter, surpassing analysts' expectations and reflecting a 2.0% year-over-year revenue growth.

Ieq Capital LLC purchased a new stake in Essent Group Ltd. (NYSE:ESNT - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 22,044 shares of the financial services provider's stock, valued at approximately $1,272,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fifth Third Bancorp increased its position in 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 purchasing an additional 187 shares during the period. State of Alaska Department of Revenue boosted its position in 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 period. PNC Financial Services Group Inc. boosted its position in Essent Group by 5.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,721 shares of the financial services provider's stock worth $215,000 after purchasing an additional 200 shares during the period. Mercer Global Advisors Inc. ADV boosted its position in Essent Group by 3.6% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 6,988 shares of the financial services provider's stock valued at $380,000 after buying an additional 242 shares during the last quarter. Finally, Forum Financial Management LP lifted its position in shares of Essent Group by 8.1% during the fourth 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 and hedge funds own 93.00% of the company's stock.

Essent Group Stock Up 0.0%

Shares of NYSE ESNT traded up $0.01 during midday trading on Friday, hitting $63.81. 453,625 shares of the stock traded hands, compared to its average volume of 529,897. The business has a 50 day moving average price of $59.71 and a two-hundred day moving average price of $57.99. Essent Group Ltd. has a one year low of $51.61 and a one year high of $65.33. The company has a market cap of $6.29 billion, a PE ratio of 9.32, a P/E/G ratio of 2.76 and a beta of 0.86. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.24 and a current ratio of 1.24.

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

Essent Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 29th will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, August 29th. Essent Group's dividend payout ratio (DPR) is currently 18.10%.

Analysts Set New Price Targets

Several brokerages have commented on ESNT. Compass Point restated a "buy" rating on shares of Essent Group in a research note on Friday, August 8th. Barclays raised their price objective on shares of Essent Group from $58.00 to $59.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. The Goldman Sachs Group set a $60.00 target price on shares of Essent Group and gave the company a "neutral" rating in a research note on Friday, August 8th. Keefe, Bruyette & Woods cut Essent Group from an "outperform" rating to a "market perform" rating in a research note on Friday, August 8th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Essent Group in a research report on Friday, August 8th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Essent Group presently has an average rating of "Moderate Buy" and a consensus target price of $63.67.

Insider Transactions at Essent Group

In related news, CFO David B. Weinstock sold 2,500 shares of Essent Group stock in a transaction on Monday, June 16th. The stock was sold at an average price of $58.79, for a total value of $146,975.00. Following the completion of the sale, the chief financial officer owned 27,365 shares of the company's stock, valued at $1,608,788.35. The trade was a 8.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William Spiegel sold 6,451 shares of the company's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $62.74, for a total value of $404,735.74. Following the completion of the sale, the director owned 26,252 shares of the company's stock, valued at approximately $1,647,050.48. The trade was a 19.73% decrease in their position. 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 currently owned by insiders.

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.