Allspring Global Investments Holdings LLC Boosts Stock Holdings in Essent Group Ltd. (NYSE:ESNT)

Allspring Global Investments Holdings LLC boosted its position in Essent Group Ltd. (NYSE:ESNT - Free Report) by 4.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 353,218 shares of the financial services provider's stock after acquiring an additional 15,116 shares during the period. Allspring Global Investments Holdings LLC owned 0.33% of Essent Group worth $18,629,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Essent Group by 0.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,198 shares of the financial services provider's stock worth $2,542,000 after buying an additional 267 shares during the last quarter. Asset Management One Co. Ltd. bought a new position in Essent Group during the fourth quarter worth about $290,000. Planned Solutions Inc. bought a new position in Essent Group during the fourth quarter worth about $126,000. Pacer Advisors Inc. boosted its holdings in Essent Group by 68.2% during the fourth quarter. Pacer Advisors Inc. now owns 20,613 shares of the financial services provider's stock worth $1,087,000 after buying an additional 8,361 shares during the last quarter. Finally, Raymond James & Associates boosted its holdings in Essent Group by 11.4% during the fourth quarter. Raymond James & Associates now owns 15,569 shares of the financial services provider's stock worth $821,000 after buying an additional 1,589 shares during the last quarter. Institutional investors own 93.00% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on ESNT shares. Royal Bank of Canada raised their target price on shares of Essent Group from $56.00 to $58.00 and gave the stock an "outperform" rating in a report on Monday, February 12th. JPMorgan Chase & Co. cut shares of Essent Group from an "overweight" rating to a "neutral" rating and boosted their price objective for the company from $58.00 to $61.00 in a research report on Wednesday, April 3rd. Keefe, Bruyette & Woods increased their target price on Essent Group from $62.00 to $64.00 and gave the stock a "market perform" rating in a report on Thursday, April 4th. Finally, StockNews.com cut Essent Group from a "buy" rating to a "hold" rating in a research report on Monday, March 4th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Essent Group presently has an average rating of "Hold" and a consensus price target of $58.38.

Essent Group Stock Performance

NYSE ESNT traded down $0.36 during trading hours on Monday, hitting $53.30. 412,479 shares of the company traded hands, compared to its average volume of 526,876. The business's 50-day moving average is $54.88 and its 200-day moving average is $51.92. Essent Group Ltd. has a twelve month low of $40.33 and a twelve month high of $59.90. The stock has a market capitalization of $5.70 billion, a price-to-earnings ratio of 8.26, a P/E/G ratio of 0.82 and a beta of 1.04.

Essent Group (NYSE:ESNT - Get Free Report) last released its quarterly earnings data on Friday, February 9th. The financial services provider reported $1.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.59 by $0.05. Essent Group had a return on equity of 14.44% and a net margin of 62.75%. The company had revenue of $297.30 million during the quarter, compared to analysts' expectations of $286.18 million. During the same period last year, the firm posted $1.37 earnings per share. The business's revenue was up 29.3% on a year-over-year basis. Analysts predict that Essent Group Ltd. will post 6.56 EPS for the current year.

Essent Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Wednesday, March 13th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.10%. This is a boost from Essent Group's previous quarterly dividend of $0.25. The ex-dividend date was Tuesday, March 12th. Essent Group's dividend payout ratio (DPR) is presently 17.23%.

Insider Activity

In other news, SVP Mary Lourdes Gibbons sold 5,000 shares of the stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $55.00, for a total transaction of $275,000.00. Following the transaction, the senior vice president now owns 247,969 shares in the company, valued at $13,638,295. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 2.90% of the company's stock.

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.