Essent Group Ltd. $ESNT Holdings Lifted by Jane Street Group LLC

Key Points

• Jane Street Group LLC increased its stake in Essent Group Ltd. by 760.5%, owning 367,460 shares valued at approximately $21.21 million as of its latest SEC filing.
• Essent Group reported an earnings per share (EPS) of $1.93 for the last quarter, surpassing analyst estimates of $1.68, with a revenue of $319.14 million.
• The company recently announced a quarterly dividend of $0.31 per share, representing an annualized dividend yield of 1.9%.

Jane Street Group LLC boosted its position in Essent Group Ltd. (NYSE:ESNT - Free Report) by 760.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 367,460 shares of the financial services provider's stock after purchasing an additional 324,757 shares during the quarter. Jane Street Group LLC owned about 0.36% of Essent Group worth $21,210,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc acquired a new position in Essent Group in the 1st quarter valued at about $25,000. Summit Securities Group LLC purchased a new stake in Essent Group in the 1st quarter valued at about $46,000. UMB Bank n.a. grew its holdings in Essent Group by 330.6% in the 1st quarter. UMB Bank n.a. now owns 1,098 shares of the financial services provider's stock valued at $63,000 after buying an additional 843 shares during the period. Fifth Third Bancorp grew its holdings in Essent Group by 20.2% in the 1st 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. Finally, State of Wyoming grew its holdings in Essent Group by 102.0% in the 4th quarter. State of Wyoming now owns 1,687 shares of the financial services provider's stock valued at $92,000 after buying an additional 852 shares during the period. Institutional investors and hedge funds own 93.00% of the company's stock.

Insider Buying and Selling at Essent Group

In related news, Director William Spiegel sold 6,451 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $62.74, for a total transaction of $404,735.74. Following 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO David B. Weinstock sold 2,500 shares of the company's stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $63.33, for a total value of $158,325.00. Following the sale, the chief financial officer directly owned 24,865 shares in the company, valued at approximately $1,574,700.45. This represents a 9.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,950 shares of company stock valued at $931,001 in the last three months. Corporate insiders own 2.90% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented 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. Keefe, Bruyette & Woods cut Essent Group from an "outperform" rating to a "market perform" 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. DOWLING & PARTN cut Essent Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 12th. Finally, Compass Point reiterated a "buy" rating on shares of Essent Group in a report on Friday, August 8th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Essent Group has an average rating of "Moderate Buy" and an average price target of $63.67.

Essent Group Stock Up 3.1%

Essent Group stock traded up $1.94 during midday trading on Thursday, hitting $65.49. 1,077,711 shares of the company were exchanged, compared to its average volume of 480,890. The company's fifty day moving average price is $60.33 and its 200-day moving average price is $58.42. The company has a market cap of $6.45 billion, a PE ratio of 9.56, a price-to-earnings-growth ratio of 2.75 and a beta of 0.86. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.24 and a quick ratio of 1.24. Essent Group Ltd. has a fifty-two week low of $51.61 and a fifty-two week high of $65.88.

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

Essent Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 29th were 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 of this dividend was Friday, August 29th. Essent Group's dividend payout ratio is presently 18.10%.

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.