Illinois Municipal Retirement Fund Buys 8,047 Shares of Essent Group Ltd. (NYSE:ESNT)

Illinois Municipal Retirement Fund grew its stake in Essent Group Ltd. (NYSE:ESNT - Free Report) by 22.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,407 shares of the financial services provider's stock after buying 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 SEC filing.

Several other institutional investors have also recently made changes to their positions in ESNT. AdvisorNet Financial Inc bought a new position in shares of Essent Group during the 1st quarter valued at approximately $25,000. Mainstream Capital Management LLC purchased a new position in Essent Group during the fourth quarter valued at approximately $25,000. Picton Mahoney Asset Management boosted its position in shares of 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 purchasing an additional 238 shares during the period. UMB Bank n.a. boosted its position in shares of Essent Group by 330.6% in the first quarter. UMB Bank n.a. now owns 1,098 shares of the financial services provider's stock worth $63,000 after purchasing an additional 843 shares during the period. Finally, Fifth Third Bancorp increased its stake in shares of Essent Group by 20.2% in the first 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 in the last quarter. Institutional investors own 93.00% of the company's stock.

Insider Activity at Essent Group

In other Essent Group news, CFO David B. Weinstock sold 2,500 shares of the stock in a transaction that occurred 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 now directly owns 27,365 shares in the company, valued at $1,608,788.35. This represents a 8.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Mary Lourdes Gibbons sold 1,777 shares of Essent Group stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $60.07, for a total value of $106,744.39. Following the sale, the senior vice president now owns 253,022 shares in the company, valued at $15,199,031.54. This trade represents a 0.70% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,500 shares of company stock valued at $566,506. 3.40% of the stock is owned by insiders.

Essent Group Price Performance

Shares of ESNT stock opened at $60.68 on Monday. Essent Group Ltd. has a 1 year low of $51.61 and a 1 year high of $65.34. The firm has a market capitalization of $6.15 billion, a price-to-earnings ratio of 8.88, a price-to-earnings-growth ratio of 3.50 and a beta of 0.81. The business has a fifty day moving average of $58.19 and a 200 day moving average of $56.79.

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

Essent Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 30th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.04%. Essent Group's payout ratio is currently 18.16%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group restated a "neutral" rating on shares of Essent Group in a research note on Friday, May 9th. Compass Point set a $69.00 price target on Essent Group and gave the stock a "buy" rating in a research note on Friday, May 23rd. Royal Bank Of Canada reiterated an "outperform" rating on shares of Essent Group in a report on Friday, May 9th. Keefe, Bruyette & Woods reaffirmed an "outperform" 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 target price on the stock in a research report on Tuesday, April 8th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus 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.

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