20,247 Shares in Essent Group Ltd. $ESNT Bought by Jacobs Levy Equity Management Inc.

Key Points

• Jacobs Levy Equity Management Inc. has acquired a new position in Essent Group Ltd., purchasing 20,247 shares valued at approximately $1,169,000.
• Insider trading activity included Director William Spiegel selling 6,451 shares, reducing his ownership by nearly 20%, while CFO David B. Weinstock sold 2,500 shares, representing an 8.37% decrease in his position.
• Analysts have rated Essent Group with an average consensus of "Moderate Buy", and the company recently reported stronger-than-expected earnings, with a net margin of 56.36% and revenue up 2.0% year-over-year.

Jacobs Levy Equity Management Inc. acquired a new position in shares of Essent Group Ltd. (NYSE:ESNT - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 20,247 shares of the financial services provider's stock, valued at approximately $1,169,000.

Several other institutional investors have also recently modified their holdings of ESNT. Victory Capital Management Inc. raised its position in shares of Essent Group by 1,272.6% during the 1st quarter. Victory Capital Management Inc. now owns 970,969 shares of the financial services provider's stock worth $56,044,000 after purchasing an additional 900,229 shares during the last quarter. Wellington Management Group LLP acquired a new position in Essent Group in the 1st quarter valued at $41,084,000. Nuveen LLC acquired a new position in Essent Group in the 1st quarter valued at $34,060,000. Polar Capital Holdings Plc raised its holdings in Essent Group by 14.9% in the 4th quarter. Polar Capital Holdings Plc now owns 2,700,000 shares of the financial services provider's stock valued at $146,988,000 after acquiring an additional 350,000 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in Essent Group by 64.2% in the 1st quarter. AQR Capital Management LLC now owns 848,282 shares of the financial services provider's stock valued at $48,581,000 after acquiring an additional 331,535 shares during the last quarter. 93.00% of the stock is currently owned by institutional investors and hedge funds.

Essent Group Trading Up 1.6%

Shares of ESNT stock traded up $1.02 on Wednesday, reaching $63.50. 743,107 shares of the stock were exchanged, compared to its average volume of 464,616. The stock has a market cap of $6.26 billion, a P/E ratio of 9.27, a price-to-earnings-growth ratio of 2.71 and a beta of 0.86. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.09. The firm has a 50 day moving average of $60.15 and a two-hundred day moving average of $58.36. Essent Group Ltd. has a 1-year low of $51.61 and a 1-year high of $65.33.

Essent Group (NYSE:ESNT - Get Free Report) last released its quarterly earnings data on Friday, August 8th. The financial services provider reported $1.93 EPS for the quarter, topping analysts' consensus estimates of $1.68 by $0.25. The business 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 period in the prior year, the firm posted $1.91 EPS. On average, research analysts anticipate that Essent Group Ltd. will post 6.88 EPS for the current year.

Essent Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 29th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Friday, August 29th. Essent Group's dividend payout ratio is 18.10%.

Insider Buying and Selling

In related news, Director William Spiegel sold 6,451 shares of the company's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $62.74, for a total transaction of $404,735.74. Following the completion of the sale, the director directly owned 26,252 shares of the company's stock, valued at approximately $1,647,050.48. This represents a 19.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Mary Lourdes Gibbons sold 3,760 shares of the company's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $62.00, for a total transaction of $233,120.00. Following the sale, the senior vice president directly owned 247,023 shares of the company's stock, valued at approximately $15,315,426. This trade represents a 1.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 14,950 shares of company stock valued at $931,001. Company insiders own 2.90% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. The Goldman Sachs Group set a $60.00 price target on Essent Group and gave the company a "neutral" rating in a report on Friday, August 8th. Royal Bank Of Canada reiterated an "outperform" rating on shares of Essent Group in a report on Friday, August 8th. Compass Point reiterated a "buy" rating on shares of Essent Group in a report on Friday, August 8th. DOWLING & PARTN downgraded Essent Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 12th. Finally, Keefe, Bruyette & Woods cut shares of Essent Group from an "outperform" rating to a "market perform" rating in a research note on Friday, August 8th. Four 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, the company presently 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.