Peregrine Capital Management LLC Sells 15,882 Shares of Essent Group Ltd. (NYSE:ESNT)

Peregrine Capital Management LLC lessened its holdings in shares of Essent Group Ltd. (NYSE:ESNT - Free Report) by 6.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 213,988 shares of the financial services provider's stock after selling 15,882 shares during the period. Peregrine Capital Management LLC owned 0.21% of Essent Group worth $12,351,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds 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 about $25,000. Mainstream Capital Management LLC bought a new position in shares of Essent Group in the fourth quarter valued at $25,000. Picton Mahoney Asset Management increased its position in Essent Group by 68.8% during the fourth quarter. Picton Mahoney Asset Management now owns 584 shares of the financial services provider's stock worth $32,000 after buying an additional 238 shares during the last quarter. UMB Bank n.a. lifted its holdings in Essent Group by 330.6% during the 1st 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 last quarter. Finally, Fifth Third Bancorp boosted its holdings in shares of Essent Group by 20.2% during the 1st quarter. Fifth Third Bancorp now owns 1,114 shares of the financial services provider's stock worth $64,000 after buying an additional 187 shares during the period. Institutional investors own 93.00% of the company's stock.

Insider Activity

In other news, CFO David B. Weinstock sold 2,500 shares of the firm's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $58.79, for a total transaction of $146,975.00. Following the sale, the chief financial officer owned 27,365 shares in the company, valued at approximately $1,608,788.35. This trade represents a 8.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Mary Lourdes Gibbons sold 1,999 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $60.00, for a total value of $119,940.00. Following the completion of the sale, the senior vice president owned 251,023 shares of the company's stock, valued at $15,061,380. The trade was a 0.79% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,500 shares of company stock worth $566,506. 3.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ESNT has been the subject of several analyst reports. BTIG Research reiterated a "buy" rating on shares of Essent Group in a research note on Friday, May 9th. The Goldman Sachs Group reiterated a "neutral" rating on shares of Essent Group in a research report on Friday, May 9th. Keefe, Bruyette & Woods reaffirmed an "outperform" rating on shares of Essent Group in a research note on Friday, May 9th. JPMorgan Chase & Co. upgraded Essent Group from a "neutral" rating to an "overweight" rating and set a $60.00 target price on the stock in a research report on Tuesday, April 8th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Essent Group in a research note on Friday, May 9th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $63.29.

Essent Group Stock Performance

NYSE:ESNT traded down $0.26 during trading on Wednesday, reaching $61.18. The company's stock had a trading volume of 173,802 shares, compared to its average volume of 748,072. The firm has a 50 day moving average of $58.45 and a 200-day moving average of $56.86. The firm has a market cap of $6.20 billion, a price-to-earnings ratio of 8.96, a price-to-earnings-growth ratio of 3.51 and a beta of 0.81. Essent Group Ltd. has a 12 month low of $51.61 and a 12 month high of $65.33.

Essent Group (NYSE:ESNT - Get Free Report) last issued its quarterly earnings results on Friday, May 9th. The financial services provider reported $1.69 EPS for the quarter, beating analysts' consensus estimates of $1.66 by $0.03. The firm had revenue of $317.56 million for the quarter, compared to analysts' expectations of $311.18 million. Essent Group had a return on equity of 12.98% and a net margin of 57.29%. The business's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.70 EPS. Equities research analysts forecast that Essent Group Ltd. will post 6.88 earnings per share for the current fiscal year.

Essent Group Dividend Announcement

The business 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. This represents a $1.24 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend was Friday, May 30th. Essent Group's dividend payout ratio (DPR) is presently 18.16%.

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.