Illinois Municipal Retirement Fund Increases Stock Holdings in Essent Group Ltd. (NYSE:ESNT)

Illinois Municipal Retirement Fund increased its holdings in shares of Essent Group Ltd. (NYSE:ESNT - Free Report) by 22.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 43,407 shares of the financial services provider's stock after purchasing an additional 8,047 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Essent Group were worth $2,505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. NFC Investments LLC grew its stake in shares of Essent Group by 0.3% during the 4th quarter. NFC Investments LLC now owns 56,688 shares of the financial services provider's stock valued at $3,086,000 after purchasing an additional 175 shares during the period. Parkside Financial Bank & Trust boosted its holdings in shares of Essent Group by 8.2% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,363 shares of the financial services provider's stock worth $129,000 after buying an additional 180 shares during the last quarter. Fifth Third Bancorp grew its position in Essent Group by 20.2% during the first quarter. Fifth Third Bancorp now owns 1,114 shares of the financial services provider's stock valued at $64,000 after buying an additional 187 shares during the period. State of Alaska Department of Revenue grew its position in Essent Group by 0.5% during the first quarter. State of Alaska Department of Revenue now owns 39,301 shares of the financial services provider's stock valued at $2,268,000 after buying an additional 190 shares during the period. Finally, Picton Mahoney Asset Management raised its position in Essent Group by 68.8% in the fourth 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 during the period. 93.00% of the stock is owned by hedge funds and other institutional investors.

Essent Group Trading Up 1.3%

ESNT traded up $0.78 on Thursday, hitting $61.90. 339,363 shares of the company's stock traded hands, compared to its average volume of 748,581. Essent Group Ltd. has a one year low of $51.61 and a one year high of $65.33. The firm has a market cap of $6.28 billion, a price-to-earnings ratio of 9.06, a P/E/G ratio of 3.55 and a beta of 0.81. The company's 50 day simple moving average is $58.56 and its 200-day simple moving average is $56.89.

Essent Group (NYSE:ESNT - Get Free Report) last released its quarterly earnings data on Friday, May 9th. The financial services provider reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.03. Essent Group had a net margin of 57.29% and a return on equity of 12.98%. The firm had revenue of $317.56 million for the quarter, compared to analysts' expectations of $311.18 million. During the same quarter last year, the business posted $1.70 earnings per share. The company's revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, equities analysts anticipate that Essent Group Ltd. will post 6.88 EPS for the current fiscal year.

Essent Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 30th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.00%. The ex-dividend date was Friday, May 30th. Essent Group's payout ratio is currently 18.16%.

Insider Activity

In related news, SVP Mary Lourdes Gibbons sold 1,999 shares of the business's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $60.00, for a total value of $119,940.00. Following the sale, the senior vice president directly owned 251,023 shares in the company, valued at approximately $15,061,380. The trade was a 0.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO David B. Weinstock sold 2,500 shares of Essent Group stock in a transaction that occurred 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 directly owned 27,365 shares in the company, valued at approximately $1,608,788.35. The trade was a 8.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,500 shares of company stock worth $566,506 over the last 90 days. Corporate insiders own 2.90% of the company's stock.

Analyst Ratings Changes

ESNT has been the subject of several recent research reports. Keefe, Bruyette & Woods reissued an "outperform" rating on shares of Essent Group in a report on Friday, May 9th. Compass Point set a $69.00 price objective on Essent Group and gave the company a "buy" rating in a research note on Friday, May 23rd. BTIG Research restated a "buy" rating on shares of Essent Group in a research note on Friday, May 9th. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Essent Group in a report on Friday, May 9th. Finally, JPMorgan Chase & Co. upgraded shares of Essent Group from a "neutral" rating to an "overweight" rating and set a $60.00 price target for the company in a research report on Tuesday, April 8th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $63.29.

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.