Essent Group Ltd. (NYSE:ESNT) Shares Sold by Jefferies Financial Group Inc.

Key Points

• Jefferies Financial Group Inc. significantly reduced its holdings in Essent Group Ltd. by 74.7% during the first quarter, owning just 26,978 shares after selling 79,823 shares.
• Essent Group recently reported quarterly earnings of $1.69 earnings per share (EPS), surpassing the consensus estimate of $1.66, along with a net margin of 57.29% and $317.56 million in revenue.
• The company declared a quarterly dividend of $0.31, yielding 2.2%, which underscores its commitment to returning value to shareholders.

Jefferies Financial Group Inc. trimmed its position in shares of Essent Group Ltd. (NYSE:ESNT - Free Report) by 74.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 26,978 shares of the financial services provider's stock after selling 79,823 shares during the period. Jefferies Financial Group Inc.'s holdings in Essent Group were worth $1,557,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. AdvisorNet Financial Inc acquired a new position in Essent Group in the first quarter valued at approximately $25,000. UMB Bank n.a. boosted its holdings 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 valued at $63,000 after acquiring an additional 843 shares during the period. Fifth Third Bancorp boosted its holdings 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 valued at $64,000 after acquiring an additional 187 shares during the period. State of Wyoming boosted its holdings in shares of Essent Group by 102.0% in the fourth quarter. State of Wyoming now owns 1,687 shares of the financial services provider's stock valued at $92,000 after acquiring an additional 852 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Essent Group by 66.2% in the first quarter. GAMMA Investing LLC now owns 1,953 shares of the financial services provider's stock valued at $113,000 after acquiring an additional 778 shares during the period. 93.00% of the stock is currently owned by hedge funds and other institutional investors.

Essent Group Stock Performance

NYSE:ESNT traded up $0.59 during trading hours on Tuesday, hitting $57.52. The company's stock had a trading volume of 494,606 shares, compared to its average volume of 808,106. The business's 50-day moving average is $58.18 and its two-hundred day moving average is $57.31. The company has a market capitalization of $5.83 billion, a PE ratio of 8.42, a PEG ratio of 8.31 and a beta of 0.82. Essent Group Ltd. has a 52-week low of $51.61 and a 52-week high of $65.33.

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, topping the consensus estimate of $1.66 by $0.03. Essent Group had a return on equity of 12.98% and a net margin of 57.29%. The firm had revenue of $317.56 million during the quarter, compared to analysts' expectations of $311.18 million. During the same quarter in the prior year, the business posted $1.70 earnings per share. Essent Group's revenue was up 6.4% compared to the same quarter last year. As a group, analysts predict that Essent Group Ltd. will post 6.88 EPS for the current fiscal year.

Essent Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 30th were given a $0.31 dividend. The ex-dividend date was Friday, May 30th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.2%. Essent Group's dividend payout ratio (DPR) is currently 18.16%.

Analysts Set New Price Targets

Several research firms have recently weighed in on ESNT. JPMorgan Chase & Co. raised Essent Group from a "neutral" rating to an "overweight" rating and set a $60.00 price objective for the company in a report on Tuesday, April 8th. Royal Bank Of Canada restated an "outperform" 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. BTIG Research restated a "buy" rating on shares of Essent Group in a research note on Friday, May 9th. Finally, The Goldman Sachs Group restated a "neutral" rating on shares of Essent Group in a research note on Friday, May 9th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Essent Group currently has a consensus rating of "Moderate Buy" and an average target price of $63.71.

Insider Activity

In other news, Director Douglas J. Pauls sold 3,000 shares of the firm's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $59.80, for a total value of $179,400.00. Following the completion of the transaction, the director owned 27,165 shares in the company, valued at $1,624,467. This trade represents a 9.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Mary Lourdes Gibbons sold 1,999 shares of the firm's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $60.00, for a total value of $119,940.00. Following the completion of the transaction, the senior vice president owned 251,023 shares of the company's stock, valued at approximately $15,061,380. This represents a 0.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,740 shares of company stock worth $581,386 over the last 90 days. 3.40% of the stock is currently owned by corporate insiders.

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.