Seizert Capital Partners LLC Invests $4.17 Million in Essent Group Ltd. (NYSE:ESNT)

Key Points

• Seizert Capital Partners LLC acquired a stake in Essent Group Ltd. by purchasing 72,241 shares valued at approximately $4,170,000 during the first quarter.
• Essent Group reported $1.69 EPS for its latest quarter, exceeding analysts' expectations, with revenue rising by 6.4% compared to the previous year.
• The company has declared a quarterly dividend of $0.31 per share, resulting in an annualized dividend of $1.24 and a yield of 2.19%.

Seizert Capital Partners LLC purchased a new position in shares of Essent Group Ltd. (NYSE:ESNT - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 72,241 shares of the financial services provider's stock, valued at approximately $4,170,000. Seizert Capital Partners LLC owned 0.07% of Essent Group as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in ESNT. Norges Bank acquired a new position in Essent Group during the 4th quarter worth $69,364,000. Victory Capital Management Inc. boosted its position in Essent Group by 1,272.6% during the 1st quarter. Victory Capital Management Inc. now owns 970,969 shares of the financial services provider's stock worth $56,044,000 after acquiring an additional 900,229 shares during the period. First Trust Advisors LP boosted its position in Essent Group by 43.2% during the 4th quarter. First Trust Advisors LP now owns 1,709,029 shares of the financial services provider's stock worth $93,040,000 after acquiring an additional 515,171 shares during the period. Walleye Capital LLC boosted its position in Essent Group by 144.8% during the 4th quarter. Walleye Capital LLC now owns 846,169 shares of the financial services provider's stock worth $46,065,000 after acquiring an additional 500,494 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in Essent Group by 29.3% during the 4th quarter. Ameriprise Financial Inc. now owns 1,966,171 shares of the financial services provider's stock worth $107,038,000 after acquiring an additional 445,012 shares during the period. Institutional investors and hedge funds own 93.00% of the company's stock.

Essent Group Stock Up 0.9%

Shares of NYSE ESNT traded up $0.53 during mid-day trading on Friday, hitting $56.52. 669,061 shares of the company traded hands, compared to its average volume of 781,265. Essent Group Ltd. has a 1 year low of $51.61 and a 1 year high of $65.33. The stock has a market capitalization of $5.73 billion, a price-to-earnings ratio of 8.28, a PEG ratio of 8.18 and a beta of 0.82. The business has a 50 day moving average of $58.22 and a two-hundred day moving average of $57.32.

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

Essent Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 30th were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Friday, May 30th. Essent Group's payout ratio is presently 18.16%.

Insider Activity at Essent Group

In related news, Director Douglas J. Pauls sold 3,000 shares of the company's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $59.80, for a total transaction of $179,400.00. Following the transaction, the director directly owned 27,165 shares of the company's stock, valued at approximately $1,624,467. The trade was a 9.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David B. Weinstock sold 2,500 shares of the company's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $58.79, for a total value of $146,975.00. Following the completion of the transaction, the chief financial officer directly owned 27,365 shares in the company, valued at approximately $1,608,788.35. The trade was a 8.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,740 shares of company stock valued at $581,386. Company insiders own 2.90% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on ESNT shares. BTIG Research reissued a "buy" rating on shares of Essent Group in a research note on Friday, May 9th. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Essent Group in a research note on Friday, May 9th. Compass Point set a $69.00 target price on Essent Group and gave the company a "buy" rating in a research note on Friday, May 23rd. JPMorgan Chase & Co. raised Essent Group from a "neutral" rating to an "overweight" rating and set a $60.00 target price for the company in a research note on Tuesday, April 8th. Finally, Barclays raised their target price on Essent Group from $58.00 to $59.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 8th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $63.71.

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.