Essent Group Ltd. (NYSE:ESNT) Shares Acquired by Rhumbline Advisers

Rhumbline Advisers raised its holdings in Essent Group Ltd. (NYSE:ESNT - Free Report) by 5.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 369,249 shares of the financial services provider's stock after purchasing an additional 19,271 shares during the quarter. Rhumbline Advisers owned 0.36% of Essent Group worth $21,313,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NFC Investments LLC lifted its stake in Essent Group by 0.3% in the 4th quarter. NFC Investments LLC now owns 56,688 shares of the financial services provider's stock worth $3,086,000 after purchasing an additional 175 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of Essent Group by 8.2% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,363 shares of the financial services provider's stock worth $129,000 after acquiring an additional 180 shares during the period. Picton Mahoney Asset Management boosted its position in shares of Essent Group by 68.8% during the 4th quarter. Picton Mahoney Asset Management now owns 584 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 238 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its position in shares of Essent Group by 3.6% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 6,988 shares of the financial services provider's stock valued at $380,000 after acquiring an additional 242 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Essent Group by 0.6% in the fourth quarter. Franklin Resources Inc. now owns 47,469 shares of the financial services provider's stock valued at $2,584,000 after purchasing an additional 287 shares during the period. 93.00% of the stock is owned by institutional investors and hedge funds.

Essent Group Price Performance

Shares of ESNT traded up $0.38 during midday trading on Tuesday, reaching $57.90. 436,439 shares of the stock were exchanged, compared to its average volume of 646,325. Essent Group Ltd. has a twelve month low of $51.61 and a twelve month high of $65.34. The company has a market capitalization of $5.87 billion, a price-to-earnings ratio of 8.47, a PEG ratio of 2.70 and a beta of 0.81. The business's 50-day moving average price is $56.89 and its 200 day moving average price is $56.52.

Essent Group (NYSE:ESNT - Get Free Report) last announced its quarterly earnings data on Friday, May 9th. The financial services provider reported $1.69 EPS for the quarter, topping analysts' consensus estimates of $1.66 by $0.03. The company had revenue of $317.56 million during the quarter, compared to the consensus estimate of $311.18 million. Essent Group had a net margin of 58.69% and a return on equity of 13.35%. Essent Group's quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.70 EPS. As a group, equities research analysts expect that Essent Group Ltd. will post 6.88 earnings per share for the current fiscal year.

Essent Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 30th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend is Friday, May 30th. Essent Group's payout ratio is 18.16%.

Insider Transactions at Essent Group

In related news, Director Douglas J. Pauls sold 3,000 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $59.80, for a total value of $179,400.00. Following the sale, the director now directly owns 27,165 shares in the company, valued at $1,624,467. The trade was a 9.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Mary Lourdes Gibbons sold 1,777 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $60.07, for a total transaction of $106,744.39. Following the transaction, the senior vice president now directly owns 253,022 shares in the company, valued at approximately $15,199,031.54. This represents a 0.70% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,001 shares of company stock valued at $299,591. Corporate insiders own 2.90% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on ESNT. Keefe, Bruyette & Woods reiterated an "outperform" rating on shares of Essent Group in a report on Friday, May 9th. JPMorgan Chase & Co. upgraded Essent Group from a "neutral" rating to an "overweight" rating and set a $60.00 price objective on the stock in a report on Tuesday, April 8th. The Goldman Sachs Group reissued a "neutral" 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 company a "buy" rating in a research note on Friday, May 23rd. 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's stock. Based on data from MarketBeat.com, Essent Group has an average rating of "Moderate Buy" and a consensus price target of $63.29.

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.