Essent Group (NYSE:ESNT) Director William Spiegel Sells 6,451 Shares

Key Points

• Director William Spiegel of Essent Group Ltd. sold 6,451 shares at an average price of $62.74, amounting to a total of $404,735.74, reducing his holdings by 19.73%.
• Essent Group reported an earnings per share (EPS) of $1.93 for the latest quarter, exceeding expectations and reflecting a 2.0% year-over-year revenue increase.
• The company announced a quarterly dividend of $0.31 per share to be paid on September 10th, offering a dividend yield of 2.0%.

Essent Group Ltd. (NYSE:ESNT - Get Free Report) Director William Spiegel sold 6,451 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $62.74, for a total value of $404,735.74. Following the sale, the director owned 26,252 shares in the company, valued at approximately $1,647,050.48. This trade represents a 19.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Essent Group Trading Up 1.2%

Shares of NYSE ESNT traded up $0.7250 during trading hours on Tuesday, hitting $62.2850. 173,426 shares of the company traded hands, compared to its average volume of 750,617. The company's 50 day moving average price is $58.72 and its 200 day moving average price is $57.47. Essent Group Ltd. has a 12 month low of $51.61 and a 12 month high of $65.33. The stock has a market capitalization of $6.14 billion, a price-to-earnings ratio of 9.09, a price-to-earnings-growth ratio of 8.62 and a beta of 0.82. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.09.

Essent Group (NYSE:ESNT - Get Free Report) last issued its quarterly earnings results on Friday, August 8th. The financial services provider reported $1.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.68 by $0.25. Essent Group had a return on equity of 12.66% and a net margin of 56.36%.The company had revenue of $319.14 million during the quarter, compared to the consensus estimate of $317.46 million. During the same period last year, the company earned $1.91 earnings per share. Essent Group's revenue was up 2.0% on a year-over-year basis. On average, equities research analysts anticipate that Essent Group Ltd. will post 6.88 earnings per share for the current fiscal year.

Essent Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 29th will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, August 29th. Essent Group's dividend payout ratio is 18.10%.

Analyst Ratings Changes

Several brokerages have recently weighed in on ESNT. Compass Point reiterated a "buy" rating on shares of Essent Group in a report on Friday, August 8th. DOWLING & PARTN downgraded shares of Essent Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 12th. The Goldman Sachs Group set a $60.00 price target on shares of Essent Group and gave the company a "neutral" rating in a research report on Friday, August 8th. Keefe, Bruyette & Woods downgraded Essent Group from an "outperform" rating to a "market perform" rating in a research note on Friday, August 8th. Finally, Barclays upped their target price on Essent Group from $58.00 to $59.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 8th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $63.67.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ESNT. AdvisorNet Financial Inc purchased a new position in Essent Group during the first quarter worth about $25,000. Hantz Financial Services Inc. grew its position in Essent Group by 1,765.2% in the second quarter. Hantz Financial Services Inc. now owns 429 shares of the financial services provider's stock worth $26,000 after acquiring an additional 406 shares during the period. Summit Securities Group LLC acquired a new stake in Essent Group during the first quarter worth $46,000. UMB Bank n.a. raised its position in Essent Group by 330.6% in 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 period. Finally, Fifth Third Bancorp lifted 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 purchasing an additional 187 shares during the last quarter. Institutional investors and hedge funds own 93.00% 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.