MetLife Investment Management LLC Has $6.76 Million Stock Position in Essent Group Ltd. $ESNT

Key Points

• MetLife Investment Management LLC reduced its stake in Essent Group Ltd. by 3.3%, owning approximately $6.76 million worth of shares as of its latest filing.
• Insider trading activity included director William Spiegel selling 6,451 shares at an average price of $62.74, decreasing his stake by 19.73%.
• Analysts have mixed views on Essent Group, with a current average rating of "Moderate Buy" and a consensus target price of $63.67.

MetLife Investment Management LLC lowered its stake in shares of Essent Group Ltd. (NYSE:ESNT - Free Report) by 3.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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 approximately 0.11% of Essent Group worth $6,758,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in ESNT. AdvisorNet Financial Inc acquired a new position in shares of Essent Group during the first quarter valued at about $25,000. Summit Securities Group LLC acquired a new position in shares of Essent Group during the first quarter valued at about $46,000. UMB Bank n.a. raised its holdings in shares of Essent Group by 330.6% during the first quarter. UMB Bank n.a. now owns 1,098 shares of the financial services provider's stock valued at $63,000 after purchasing an additional 843 shares during the period. Fifth Third Bancorp raised its holdings in shares of Essent Group by 20.2% during the first quarter. Fifth Third Bancorp now owns 1,114 shares of the financial services provider's stock valued at $64,000 after purchasing an additional 187 shares during the period. Finally, State of Wyoming raised its holdings in shares of Essent Group by 102.0% during the fourth quarter. State of Wyoming now owns 1,687 shares of the financial services provider's stock valued at $92,000 after purchasing an additional 852 shares during the period. Institutional investors and hedge funds own 93.00% of the company's stock.

Insiders Place Their Bets

In other Essent Group news, Director William Spiegel sold 6,451 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $62.74, for a total value 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 SEC, which is accessible through the SEC website. Also, SVP Mary Lourdes Gibbons sold 3,760 shares of the company's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $62.00, for a total transaction of $233,120.00. Following the completion of the sale, the senior vice president directly owned 247,023 shares of the company's stock, valued at $15,315,426. The trade was a 1.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,950 shares of company stock valued at $919,651. Corporate insiders own 2.90% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ESNT. Compass Point reiterated a "buy" rating on shares of Essent Group in a report on Friday, August 8th. JPMorgan Chase & Co. set a $60.00 target price on shares of Essent Group in a report on Friday, August 8th. Barclays upped their target price on shares of Essent Group from $58.00 to $59.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 8th. BTIG Research restated a "buy" rating on shares of Essent Group in a report on Friday, May 9th. Finally, DOWLING & PARTN lowered shares of Essent Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 12th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Essent Group currently has an average rating of "Moderate Buy" and a consensus target price of $63.67.

Essent Group Trading Up 1.0%

Shares of ESNT stock opened at $63.67 on Thursday. Essent Group Ltd. has a 52-week low of $51.61 and a 52-week high of $65.33. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.24 and a current ratio of 1.24. The company has a 50-day simple moving average of $59.32 and a two-hundred day simple moving average of $57.70. The company has a market capitalization of $6.27 billion, a price-to-earnings ratio of 9.30, a PEG ratio of 2.73 and a beta of 0.82.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.68 by $0.25. Essent Group had a net margin of 56.36% and a return on equity of 12.66%. The business had revenue of $319.14 million during the quarter, compared to the consensus estimate of $317.46 million. During the same period in the prior year, the firm posted $1.91 EPS. The firm's quarterly revenue was up 2.0% compared to the same quarter last year. Research analysts anticipate that Essent Group Ltd. will post 6.88 EPS for the current fiscal year.

Essent Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 29th will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Friday, August 29th. Essent Group's dividend payout ratio is presently 18.10%.

About Essent Group

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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