MetLife Investment Management LLC lowered its position in Essent Group Ltd. (NYSE:ESNT - Free Report) by 3.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 117,083 shares of the financial services provider's stock after selling 4,007 shares during the period. MetLife Investment Management LLC owned about 0.11% of Essent Group worth $6,758,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of the business. Hsbc Holdings PLC lifted its position in shares of Essent Group by 47.6% in the first quarter. Hsbc Holdings PLC now owns 168,214 shares of the financial services provider's stock valued at $9,692,000 after acquiring an additional 54,284 shares in the last quarter. Quantbot Technologies LP raised its stake in Essent Group by 71.5% during the 1st quarter. Quantbot Technologies LP now owns 24,616 shares of the financial services provider's stock valued at $1,421,000 after purchasing an additional 10,266 shares during the period. Wellington Management Group LLP bought a new stake in Essent Group during the 1st quarter valued at approximately $41,084,000. Summit Securities Group LLC purchased a new position in Essent Group in the 1st quarter worth approximately $46,000. Finally, Element Capital Management LLC purchased a new position in Essent Group in the 1st quarter worth approximately $2,712,000. Hedge funds and other institutional investors own 93.00% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on ESNT. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Essent Group in a report on Friday, August 8th. DOWLING & PARTN cut shares of Essent Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 12th. BTIG Research reiterated a "buy" rating on shares of Essent Group in a report on Friday, May 9th. 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. Finally, Compass Point reissued a "buy" rating on shares of Essent Group in a report on Friday, August 8th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $63.67.
Get Our Latest Stock Report on ESNT
Insider Activity at Essent Group
In other news, Director William Spiegel sold 6,451 shares of the stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $62.74, for a total value of $404,735.74. Following the sale, the director owned 26,252 shares of the company's stock, valued at approximately $1,647,050.48. This represents a 19.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO David B. Weinstock sold 2,500 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $58.79, for a total transaction of $146,975.00. Following the completion of the sale, the chief financial officer owned 27,365 shares of the company's stock, valued at $1,608,788.35. This trade represents a 8.37% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,950 shares of company stock worth $919,651. Company insiders own 3.40% of the company's stock.
Essent Group Trading Down 0.1%
Shares of NYSE:ESNT traded down $0.09 during trading on Tuesday, reaching $62.65. The company's stock had a trading volume of 387,780 shares, compared to its average volume of 566,542. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.09. Essent Group Ltd. has a 12 month low of $51.61 and a 12 month high of $65.33. The firm's 50 day simple moving average is $59.53 and its two-hundred day simple moving average is $57.85. The stock has a market capitalization of $6.17 billion, a PE ratio of 9.15, a price-to-earnings-growth ratio of 2.72 and a beta of 0.86.
Essent Group (NYSE:ESNT - Get Free Report) last issued its quarterly earnings data on Friday, August 8th. The financial services provider reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.25. Essent Group had a return on equity of 12.66% and a net margin of 56.36%.The company had revenue of $319.14 million for the quarter, compared to analysts' expectations of $317.46 million. During the same period in the previous year, the firm posted $1.91 earnings per share. The firm's revenue for the quarter was up 2.0% on a year-over-year basis. On average, research analysts predict that Essent Group Ltd. will post 6.88 EPS for the current fiscal year.
Essent Group Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 29th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.24 annualized dividend and a dividend yield of 2.0%. Essent Group's payout ratio is currently 18.10%.
Essent Group Profile
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Free Report)
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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