5,748 Shares in Essent Group Ltd. (NYSE:ESNT) Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC acquired a new position in Essent Group Ltd. (NYSE:ESNT - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,748 shares of the financial services provider's stock, valued at approximately $332,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fifth Third Bancorp increased its stake in shares of Essent Group by 20.2% in the 1st quarter. Fifth Third Bancorp now owns 1,114 shares of the financial services provider's stock valued at $64,000 after acquiring an additional 187 shares in the last quarter. GAMMA Investing LLC increased its stake in Essent Group by 66.2% in the first quarter. GAMMA Investing LLC now owns 1,953 shares of the financial services provider's stock valued at $113,000 after purchasing an additional 778 shares in the last quarter. Wedge Capital Management L L P NC raised its holdings in shares of Essent Group by 13.0% during the first quarter. Wedge Capital Management L L P NC now owns 41,105 shares of the financial services provider's stock valued at $2,373,000 after purchasing an additional 4,716 shares during the period. UMB Bank n.a. boosted its position in shares of Essent Group by 330.6% during the 1st quarter. UMB Bank n.a. now owns 1,098 shares of the financial services provider's stock worth $63,000 after purchasing an additional 843 shares in the last quarter. Finally, Vest Financial LLC boosted its position in shares of Essent Group by 22.6% during the 1st quarter. Vest Financial LLC now owns 55,907 shares of the financial services provider's stock worth $3,227,000 after purchasing an additional 10,289 shares in the last quarter. 93.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ESNT shares. 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. JPMorgan Chase & Co. raised Essent Group from a "neutral" rating to an "overweight" rating and set a $60.00 target price on the stock in a research report on Tuesday, April 8th. Royal Bank Of Canada reiterated an "outperform" rating on shares of Essent Group in a report 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. Finally, Keefe, Bruyette & Woods lowered shares of Essent Group from an "outperform" rating to a "market perform" rating and raised their price objective for the company from $65.00 to $67.00 in a research note on Monday. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, Essent Group currently has a consensus rating of "Moderate Buy" and an average price target of $63.71.

Essent Group Trading Down 1.4%

Essent Group stock traded down $0.81 during trading on Friday, hitting $55.96. 1,261,657 shares of the company were exchanged, compared to its average volume of 671,550. The business's 50 day moving average is $58.97 and its 200 day moving average is $57.14. Essent Group Ltd. has a 52 week low of $51.61 and a 52 week high of $65.34. The company has a market capitalization of $5.67 billion, a P/E ratio of 8.19, a PEG ratio of 3.39 and a beta of 0.81.

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 net margin of 57.29% and a return on equity of 12.98%. The company had revenue of $317.56 million during the quarter, compared to the consensus estimate of $311.18 million. During the same quarter in the prior year, the company posted $1.70 earnings per share. The firm's revenue for the quarter was up 6.4% on a year-over-year basis. Equities analysts expect that Essent Group Ltd. will post 6.88 EPS for the current year.

Essent Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 30th were given a dividend of $0.31 per share. The ex-dividend date was Friday, May 30th. This represents a $1.24 annualized dividend and a dividend yield of 2.22%. Essent Group's dividend payout ratio is currently 18.16%.

Insider Transactions at Essent Group

In related news, SVP Mary Lourdes Gibbons sold 1,999 shares of the stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $60.00, for a total transaction of $119,940.00. Following the completion of the sale, the senior vice president directly owned 251,023 shares of the company's stock, valued at approximately $15,061,380. This trade represents a 0.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Douglas J. Pauls sold 3,000 shares of the stock in a transaction that occurred on 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 directly owned 27,165 shares of the company's stock, valued at $1,624,467. The trade was a 9.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,740 shares of company stock worth $581,386 in the last 90 days. Insiders own 2.90% 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.