Voloridge Investment Management LLC Acquires Shares of 95,819 Essent Group Ltd. (NYSE:ESNT)

Voloridge Investment Management LLC bought a new position in Essent Group Ltd. (NYSE:ESNT - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 95,819 shares of the financial services provider's stock, valued at approximately $5,216,000. Voloridge Investment Management LLC owned about 0.09% of Essent Group at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ESNT. Mainstream Capital Management LLC acquired a new position in Essent Group in the 4th quarter worth about $25,000. Picton Mahoney Asset Management increased its position in Essent Group by 68.8% in the 4th quarter. Picton Mahoney Asset Management now owns 584 shares of the financial services provider's stock worth $32,000 after purchasing an additional 238 shares during the last quarter. US Bancorp DE increased its position in Essent Group by 53.3% in the 4th quarter. US Bancorp DE now owns 1,125 shares of the financial services provider's stock worth $61,000 after purchasing an additional 391 shares during the last quarter. R Squared Ltd acquired a new position in Essent Group in the 4th quarter worth about $63,000. Finally, State of Wyoming boosted its stake in shares of Essent Group by 102.0% during the 4th quarter. State of Wyoming now owns 1,687 shares of the financial services provider's stock worth $92,000 after acquiring an additional 852 shares in the last quarter. 93.00% of the stock is owned by institutional investors and hedge funds.

Essent Group Stock Down 0.4%

ESNT stock traded down $0.24 during midday trading on Friday, reaching $58.01. 679,681 shares of the company's stock traded hands, compared to its average volume of 645,708. The company has a 50-day simple moving average of $56.93 and a two-hundred day simple moving average of $56.44. Essent Group Ltd. has a 1-year low of $51.61 and a 1-year high of $65.34. The company has a market cap of $5.88 billion, a price-to-earnings ratio of 8.48, a PEG ratio of 2.70 and a beta of 0.87.

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, beating analysts' consensus estimates of $1.66 by $0.03. Essent Group had a return on equity of 13.35% and a net margin of 58.69%. The firm had revenue of $317.56 million for the quarter, compared to analyst estimates of $311.18 million. During the same period last year, the company earned $1.70 EPS. The business's quarterly revenue was up 6.4% compared to the same quarter last year. Equities research analysts forecast that Essent Group Ltd. will post 6.88 EPS for the current 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 issued a dividend of $0.31 per share. The ex-dividend date is Friday, May 30th. This represents a $1.24 annualized dividend and a yield of 2.14%. Essent Group's dividend payout ratio is presently 18.16%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. JPMorgan Chase & Co. upgraded Essent Group from a "neutral" rating to an "overweight" rating and set a $60.00 price target for the company in a research note on Tuesday, April 8th. The Goldman Sachs Group reiterated 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 stock a "buy" rating in a research note on Friday, May 23rd. BTIG Research reiterated a "buy" rating on shares of Essent Group in a research note on Friday, May 9th. Finally, Keefe, Bruyette & Woods reiterated an "outperform" rating on shares of Essent Group in a research note on Friday, May 9th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Essent Group presently has an average rating of "Moderate Buy" and a consensus target price of $63.29.

Insiders Place Their Bets

In other news, Director Douglas J. Pauls sold 3,000 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Mary Lourdes Gibbons sold 1,777 shares of Essent Group stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $60.07, for a total value of $106,744.39. Following the completion of the sale, 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. Over the last ninety days, insiders have sold 5,001 shares of company stock worth $299,591. Corporate insiders own 3.40% of the company's stock.

Essent Group Company 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.