University of Texas Texas AM Investment Management Co. Raises Stake in Essent Group Ltd. (NYSE:ESNT)

University of Texas Texas AM Investment Management Co. lifted its stake in Essent Group Ltd. (NYSE:ESNT - Free Report) by 39.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 40,453 shares of the financial services provider's stock after acquiring an additional 11,397 shares during the quarter. University of Texas Texas AM Investment Management Co.'s holdings in Essent Group were worth $2,202,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ESNT. NFC Investments LLC boosted its stake in shares of Essent Group by 0.3% during the 4th quarter. NFC Investments LLC now owns 56,688 shares of the financial services provider's stock worth $3,086,000 after acquiring an additional 175 shares during the period. Parkside Financial Bank & Trust boosted its position in Essent Group by 8.2% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,363 shares of the financial services provider's stock worth $129,000 after purchasing an additional 180 shares during the period. Picton Mahoney Asset Management raised its position in shares of Essent Group by 68.8% in the fourth quarter. Picton Mahoney Asset Management now owns 584 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 238 shares during the period. Mercer Global Advisors Inc. ADV lifted its stake 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 worth $380,000 after buying an additional 242 shares during the last quarter. Finally, Franklin Resources Inc. grew its position 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 last quarter. Institutional investors own 93.00% of the company's stock.

Analysts Set New Price Targets

ESNT has been the subject of several recent research reports. Royal Bank of Canada restated an "outperform" rating on shares of Essent Group in a research note on Friday, May 9th. The Goldman Sachs Group restated a "neutral" rating on shares of Essent Group in a research note on Friday, May 9th. Keefe, Bruyette & Woods reissued an "outperform" rating on shares of Essent Group in a report on Friday, May 9th. BTIG Research reaffirmed a "buy" rating on shares of Essent Group in a report on Friday, May 9th. Finally, Compass Point set a $69.00 price objective on Essent Group and gave the stock a "buy" rating in a research note on Friday, May 23rd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $63.29.

Insider Transactions at Essent Group

In related news, SVP Mary Lourdes Gibbons sold 1,777 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $60.07, for a total value of $106,744.39. Following the sale, the senior vice president now directly owns 253,022 shares in the company, valued at $15,199,031.54. This represents a 0.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Douglas J. Pauls sold 3,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the director now owns 27,165 shares in the company, valued at $1,624,467. This trade represents a 9.95% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,001 shares of company stock worth $299,591. Corporate insiders own 3.40% of the company's stock.

Essent Group Price Performance

Shares of ESNT stock traded down $0.32 on Wednesday, hitting $58.22. 148,411 shares of the company's stock were exchanged, compared to its average volume of 766,386. The company has a 50 day moving average of $56.84 and a 200 day moving average of $56.41. The stock has a market cap of $5.90 billion, a P/E ratio of 8.51, a price-to-earnings-growth ratio of 2.70 and a beta of 0.87. 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 posted its quarterly earnings results on Friday, May 9th. The financial services provider reported $1.69 earnings per share for the quarter, beating analysts' consensus estimates of $1.66 by $0.03. The company had revenue of $317.56 million for 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%. The firm's quarterly revenue was up 6.4% compared to the same quarter last year. During the same period last year, the company posted $1.70 EPS. Sell-side analysts predict that Essent Group Ltd. will post 6.88 EPS for the current fiscal year.

Essent Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.13%. Essent Group's payout ratio is presently 18.16%.

Essent Group Profile

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.