Insider Selling: Essent Group (NYSE:ESNT) SVP Sells 11,479 Shares of Stock

Key Points

• Vijay Bhasin, the Senior Vice President of Essent Group, sold 11,479 shares of stock on September 18th for a total of $746,135, which represents a 5.51% decrease in his ownership.
• The company reported a quarterly earnings of $1.93 per share, surpassing analysts' estimates by $0.25, with a revenue of $319.14 million.
• Essent Group recently declared a quarterly dividend of $0.31 per share, resulting in an annualized dividend of $1.24 and a dividend yield of 1.9%.

Essent Group Ltd. (NYSE:ESNT - Get Free Report) SVP Vijay Bhasin sold 11,479 shares of the company's stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $65.00, for a total value of $746,135.00. Following the completion of the sale, the senior vice president directly owned 196,922 shares of the company's stock, valued at approximately $12,799,930. This trade represents a 5.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Essent Group Price Performance

ESNT stock traded down $0.21 during midday trading on Tuesday, hitting $64.50. 142,650 shares of the stock were exchanged, compared to its average volume of 732,634. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.24 and a current ratio of 1.24. The stock's 50-day moving average price is $60.68 and its 200-day moving average price is $58.58. The stock has a market cap of $6.36 billion, a price-to-earnings ratio of 9.40, a PEG ratio of 2.83 and a beta of 0.85. Essent Group Ltd. has a fifty-two week low of $51.61 and a fifty-two week high of $65.90.

Essent Group (NYSE:ESNT - Get Free Report) last issued its earnings results on Friday, August 8th. The financial services provider reported $1.93 earnings per share for the quarter, beating analysts' consensus estimates of $1.68 by $0.25. The firm had revenue of $319.14 million for the quarter, compared to analysts' expectations of $317.46 million. Essent Group had a return on equity of 12.66% and a net margin of 56.36%.The firm's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.91 earnings per share. Research analysts predict that Essent Group Ltd. will post 6.88 earnings per share for the current year.

Essent Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 29th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Friday, August 29th. Essent Group's dividend payout ratio is 18.10%.

Hedge Funds Weigh In On Essent Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Millennium Management LLC increased its position in Essent Group by 215.1% in the 4th quarter. Millennium Management LLC now owns 86,087 shares of the financial services provider's stock valued at $4,687,000 after acquiring an additional 58,768 shares during the period. State of Wyoming grew its holdings in Essent Group by 102.0% in the fourth quarter. State of Wyoming now owns 1,687 shares of the financial services provider's stock worth $92,000 after purchasing an additional 852 shares during the period. Tidal Investments LLC lifted its stake in shares of Essent Group by 16.6% in the fourth quarter. Tidal Investments LLC now owns 14,745 shares of the financial services provider's stock valued at $803,000 after buying an additional 2,097 shares in the last quarter. Two Sigma Advisers LP lifted its position in shares of Essent Group by 24.2% during the fourth quarter. Two Sigma Advisers LP now owns 15,900 shares of the financial services provider's stock valued at $866,000 after purchasing an additional 3,100 shares in the last quarter. Finally, Voloridge Investment Management LLC purchased a new position in Essent Group during the fourth quarter worth about $5,216,000. Institutional investors and hedge funds own 93.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ESNT shares. Keefe, Bruyette & Woods downgraded shares of Essent Group from an "outperform" rating to a "market perform" rating in a research note on Friday, August 8th. Compass Point reiterated a "buy" rating on shares of Essent Group in a research note on Friday, August 8th. JPMorgan Chase & Co. set a $60.00 price target on shares of Essent Group in a research note on Friday, August 8th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Essent Group in a report on Friday, August 8th. Finally, Barclays raised their price target on shares of Essent Group from $58.00 to $59.00 and gave the company an "equal weight" rating in a 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. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $63.67.

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.