Russell Investments Group Ltd. trimmed its position in shares of Essent Group Ltd. (NYSE:ESNT - Free Report) by 58.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 28,483 shares of the financial services provider's stock after selling 39,429 shares during the quarter. Russell Investments Group Ltd.'s holdings in Essent Group were worth $1,643,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of the company. AdvisorNet Financial Inc purchased a new position in shares of Essent Group during the first quarter valued at approximately $25,000. UMB Bank n.a. lifted 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 last quarter. Fifth Third Bancorp lifted 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 last quarter. State of Wyoming lifted 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 last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of Essent Group during the first quarter valued at approximately $99,000. 93.00% of the stock is owned by institutional investors.
Essent Group Price Performance
Shares of NYSE ESNT traded down $0.09 during mid-day trading on Tuesday, hitting $62.65. 387,780 shares of the company's stock traded hands, compared to its average volume of 566,542. The company's 50-day moving average is $59.53 and its two-hundred day moving average is $57.85. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market capitalization of $6.17 billion, a P/E ratio of 9.15, a PEG ratio of 2.72 and a beta of 0.86. Essent Group Ltd. has a 1 year low of $51.61 and a 1 year high of $65.33.
Essent Group (NYSE:ESNT - Get Free Report) last announced its earnings results on Friday, August 8th. The financial services provider reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.25. The firm had revenue of $319.14 million for the quarter, compared to analysts' expectations of $317.46 million. Essent Group had a net margin of 56.36% and a return on equity of 12.66%. The business's revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.91 EPS. On average, equities analysts anticipate that Essent Group Ltd. will post 6.88 EPS for the current fiscal year.
Essent Group Dividend Announcement
The firm 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. This represents a $1.24 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Friday, August 29th. Essent Group's dividend payout ratio is currently 18.10%.
Insider Activity
In related news, SVP Mary Lourdes Gibbons sold 3,760 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $62.00, for a total value of $233,120.00. Following the sale, the senior vice president directly owned 247,023 shares of the company's stock, valued at $15,315,426. This represents a 1.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO David B. Weinstock sold 2,500 shares of the 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 directly owned 27,365 shares in the company, valued at $1,608,788.35. This trade represents a 8.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,950 shares of company stock worth $919,651. 3.40% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on the stock. BTIG Research restated a "buy" rating on shares of Essent Group in a report on Friday, May 9th. JPMorgan Chase & Co. set a $60.00 target price on Essent Group in a research report on Friday, August 8th. Compass Point reissued a "buy" rating on shares of Essent Group in a research report on Friday, August 8th. Keefe, Bruyette & Woods downgraded shares of Essent Group from an "outperform" rating to a "market perform" rating in a report on Friday, August 8th. Finally, The Goldman Sachs Group set a $60.00 target price on shares of Essent Group and gave the stock a "neutral" rating in a report on Friday, August 8th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $63.67.
Read Our Latest Stock Analysis on ESNT
About Essent Group
(
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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